Quest Diagnostics (NYSE:DGX) Downgraded by StockNews.com to Hold

Quest Diagnostics (NYSE:DGXGet Free Report) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Friday.

Several other brokerages also recently weighed in on DGX. Barclays upped their price objective on Quest Diagnostics from $138.00 to $144.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 25th. UBS Group increased their target price on Quest Diagnostics from $139.00 to $146.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. SVB Leerink assumed coverage on Quest Diagnostics in a research report on Monday, February 26th. They issued a “market perform” rating and a $135.00 target price for the company. Mizuho increased their target price on Quest Diagnostics from $150.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, Citigroup increased their target price on Quest Diagnostics from $135.00 to $145.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Ten analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Quest Diagnostics has a consensus rating of “Hold” and a consensus price target of $146.67.

View Our Latest Analysis on Quest Diagnostics

Quest Diagnostics Price Performance

Shares of NYSE:DGX traded down $0.30 during trading on Friday, reaching $142.34. 365,619 shares of the company traded hands, compared to its average volume of 1,020,226. The company’s 50 day moving average is $136.57 and its two-hundred day moving average is $133.53. The firm has a market capitalization of $15.81 billion, a PE ratio of 19.16, a PEG ratio of 3.10 and a beta of 0.90. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.59. Quest Diagnostics has a 52 week low of $119.59 and a 52 week high of $145.62.

Quest Diagnostics (NYSE:DGXGet Free Report) last released its earnings results on Tuesday, April 23rd. The medical research company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.86 by $0.18. The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.29 billion. Quest Diagnostics had a return on equity of 15.52% and a net margin of 9.11%. The company’s revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.04 EPS. As a group, sell-side analysts predict that Quest Diagnostics will post 8.79 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Karthik Kuppusamy sold 1,760 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $140.00, for a total transaction of $246,400.00. Following the completion of the sale, the senior vice president now owns 13,435 shares of the company’s stock, valued at $1,880,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.79% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in DGX. Norges Bank bought a new position in Quest Diagnostics in the fourth quarter worth approximately $140,472,000. Nuance Investments LLC bought a new position in shares of Quest Diagnostics in the fourth quarter valued at approximately $83,070,000. JPMorgan Chase & Co. lifted its holdings in shares of Quest Diagnostics by 36.8% in the third quarter. JPMorgan Chase & Co. now owns 2,001,347 shares of the medical research company’s stock valued at $243,884,000 after purchasing an additional 538,377 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Quest Diagnostics by 12.3% in the third quarter. American Century Companies Inc. now owns 3,554,517 shares of the medical research company’s stock valued at $433,153,000 after purchasing an additional 388,162 shares in the last quarter. Finally, M&G Plc bought a new position in shares of Quest Diagnostics in the first quarter valued at approximately $46,432,000. Institutional investors own 88.06% of the company’s stock.

About Quest Diagnostics

(Get Free Report)

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.

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