Quest Diagnostics (NYSE:DGX) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of Quest Diagnostics (NYSE:DGX) from a hold rating to a buy rating in a research note released on Friday.

DGX has been the topic of several other reports. Mizuho raised their price objective on Quest Diagnostics from $150.00 to $155.00 and gave the stock a buy rating in a report on Wednesday, April 24th. Jefferies Financial Group upgraded Quest Diagnostics from a hold rating to a buy rating and lifted their price objective for the company from $140.00 to $155.00 in a report on Wednesday, February 7th. Barclays increased their target price on shares of Quest Diagnostics from $138.00 to $144.00 and gave the stock an equal weight rating in a report on Thursday, April 25th. Citigroup boosted their price target on shares of Quest Diagnostics from $135.00 to $145.00 and gave the company a neutral rating in a report on Wednesday, April 24th. Finally, Truist Financial increased their price objective on shares of Quest Diagnostics from $145.00 to $150.00 and gave the company a hold rating in a research note on Wednesday, April 24th. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Hold and an average target price of $146.17.

Quest Diagnostics Trading Up 0.9 %

DGX stock traded up $1.24 during midday trading on Friday, reaching $141.28. The company’s stock had a trading volume of 647,499 shares, compared to its average volume of 912,856. The firm has a market capitalization of $15.69 billion, a price-to-earnings ratio of 19.01, a PEG ratio of 3.04 and a beta of 0.88. Quest Diagnostics has a 1 year low of $119.59 and a 1 year high of $145.62. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.89 and a current ratio of 0.97. The stock has a fifty day simple moving average of $134.34 and a two-hundred day simple moving average of $133.03.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings data on Tuesday, April 23rd. The medical research company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.18. The company had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.29 billion. Quest Diagnostics had a net margin of 9.11% and a return on equity of 15.52%. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.04 EPS. On average, equities research analysts predict that Quest Diagnostics will post 8.78 EPS for the current year.

Quest Diagnostics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 22nd. Investors of record on Monday, July 8th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.12%. The ex-dividend date is Monday, July 8th. Quest Diagnostics’s dividend payout ratio is currently 38.22%.

Insider Buying and Selling at Quest Diagnostics

In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 5,611 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $125.88, for a total transaction of $706,312.68. Following the sale, the senior vice president now owns 38,478 shares of the company’s stock, valued at approximately $4,843,610.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 5,611 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $125.88, for a total transaction of $706,312.68. Following the sale, the senior vice president now owns 38,478 shares in the company, valued at approximately $4,843,610.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Karthik Kuppusamy sold 1,760 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $140.00, for a total value of $246,400.00. Following the completion of the transaction, the senior vice president now directly owns 13,435 shares in the company, valued at $1,880,900. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,928 shares of company stock worth $1,656,062. 0.79% of the stock is owned by insiders.

Institutional Trading of Quest Diagnostics

Large investors have recently made changes to their positions in the business. Raymond James & Associates lifted its holdings in Quest Diagnostics by 103.3% in the fourth quarter. Raymond James & Associates now owns 148,251 shares of the medical research company’s stock valued at $20,441,000 after acquiring an additional 75,315 shares during the period. CHURCHILL MANAGEMENT Corp acquired a new stake in Quest Diagnostics during the fourth quarter valued at $1,483,000. Wellington Management Group LLP increased its holdings in Quest Diagnostics by 14.6% in the third quarter. Wellington Management Group LLP now owns 2,613,793 shares of the medical research company’s stock valued at $318,517,000 after buying an additional 333,947 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Quest Diagnostics by 201.5% in the fourth quarter. Pacer Advisors Inc. now owns 31,912 shares of the medical research company’s stock worth $4,400,000 after acquiring an additional 21,327 shares during the period. Finally, Strs Ohio boosted its stake in shares of Quest Diagnostics by 7.6% during the 4th quarter. Strs Ohio now owns 16,270 shares of the medical research company’s stock worth $2,243,000 after acquiring an additional 1,150 shares in the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

About Quest Diagnostics

Quest Diagnostics Incorporated provides diagnostic testing and services in the United States and internationally. The company develops and delivers diagnostic information services, such as routine, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.