Piper Jaffray Companies Boosts Quest Diagnostics Incorporated (NYSE:DGX) Price Target to $107.00
Quest Diagnostics Incorporated (NYSE:DGX) had its target price increased by Piper Jaffray Companies to $107.00 in a report published on Tuesday morning, The Fly reports. Piper Jaffray Companies currently has a neutral rating on the medical research company’s stock.
Other analysts also recently issued research reports about the stock. UBS AG raised shares of Quest Diagnostics from a market perform rating to an outperform rating in a report on Friday, April 21st. Evercore ISI reissued an in-line rating and issued a $104.50 price objective on shares of Quest Diagnostics in a report on Wednesday, June 28th. Barclays PLC reissued a hold rating and issued a $110.00 price objective on shares of Quest Diagnostics in a report on Wednesday, July 19th. Mizuho boosted their price objective on shares of Quest Diagnostics from $115.00 to $122.00 and gave the company a buy rating in a report on Monday, June 5th. Finally, Canaccord Genuity reaffirmed a buy rating and set a $118.00 price target on shares of Quest Diagnostics in a report on Tuesday, June 13th. Nine research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Quest Diagnostics currently has a consensus rating of Buy and an average price target of $110.84.
Shares of Quest Diagnostics (DGX) traded up 0.48% on Tuesday, reaching $109.51. 617,305 shares of the company’s stock were exchanged. The firm’s 50-day moving average price is $109.16 and its 200 day moving average price is $102.05. The company has a market cap of $14.94 billion, a price-to-earnings ratio of 22.07 and a beta of 0.70. Quest Diagnostics has a 12 month low of $79.12 and a 12 month high of $112.97.
Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings data on Tuesday, July 25th. The medical research company reported $1.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.42 by $0.13. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. Quest Diagnostics had a net margin of 9.28% and a return on equity of 15.66%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.34 EPS. Equities research analysts predict that Quest Diagnostics will post $5.67 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which was paid on Monday, July 24th. Investors of record on Monday, July 10th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend was Thursday, July 6th. Quest Diagnostics’s payout ratio is 36.29%.
In related news, SVP Catherine T. Doherty sold 59,762 shares of the stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $107.55, for a total value of $6,427,403.10. Following the completion of the transaction, the senior vice president now owns 78,582 shares of the company’s stock, valued at approximately $8,451,494.10. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.50% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the stock. YorkBridge Wealth Partners LLC increased its position in shares of Quest Diagnostics by 1.5% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,188 shares of the medical research company’s stock valued at $127,000 after buying an additional 18 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Quest Diagnostics by 16.1% in the first quarter. Parallel Advisors LLC now owns 1,279 shares of the medical research company’s stock valued at $137,000 after buying an additional 177 shares during the last quarter. Advisors Capital Management LLC bought a new position in shares of Quest Diagnostics during the first quarter valued at approximately $164,000. Financial Architects Inc increased its position in shares of Quest Diagnostics by 5.6% in the second quarter. Financial Architects Inc now owns 1,666 shares of the medical research company’s stock valued at $185,000 after buying an additional 88 shares during the last quarter. Finally, Wagner Bowman Management Corp bought a new position in shares of Quest Diagnostics during the second quarter valued at approximately $200,000. 90.81% of the stock is owned by institutional investors and hedge funds.
Quest Diagnostics Company Profile
Quest Diagnostics Incorporated is a provider of diagnostic information services. The Company operates through two businesses: Diagnostic Information Services and Diagnostic Solutions. The Diagnostic Information Services business develops and delivers diagnostic testing information and services, providing insights that empower and enable a range of customers, including patients, clinicians, hospitals, integrated delivery networks (IDNs), health plans, employers and accountable care organizations (ACOs).
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