SunTrust Banks, Inc. Analysts Give Quest Diagnostics Incorporated (DGX) a $105.00 Price Target
SunTrust Banks, Inc. set a $105.00 price objective on Quest Diagnostics Incorporated (NYSE:DGX) in a research report report published on Sunday. The brokerage currently has a hold rating on the medical research company’s stock. SunTrust Banks also issued estimates for Quest Diagnostics’ Q3 2017 earnings at $1.34 EPS and FY2017 earnings at $5.61 EPS.
Other research analysts also recently issued reports about the stock. UBS AG boosted their price objective on shares of Quest Diagnostics from $115.00 to $123.00 and gave the company a buy rating in a research report on Thursday, July 6th. Evercore ISI restated an in-line rating and set a $104.50 price objective on shares of Quest Diagnostics in a research report on Wednesday, June 28th. Barclays PLC restated a hold rating and set a $110.00 price objective on shares of Quest Diagnostics in a research report on Wednesday, July 19th. BidaskClub upgraded shares of Quest Diagnostics from a sell rating to a hold rating in a research report on Tuesday, August 15th. Finally, Zacks Investment Research downgraded shares of Quest Diagnostics from a buy rating to a hold rating in a research report on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $108.39.
Quest Diagnostics (NYSE DGX) opened at 92.18 on Friday. The stock has a 50 day moving average price of $99.98 and a 200-day moving average price of $104.83. The firm has a market capitalization of $12.57 billion, a PE ratio of 18.58 and a beta of 0.66. Quest Diagnostics has a one year low of $79.12 and a one year high of $112.97.
Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Tuesday, July 25th. The medical research company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.13. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Quest Diagnostics had a return on equity of 15.66% and a net margin of 9.28%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.34 earnings per share. On average, equities analysts forecast that Quest Diagnostics will post $5.63 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 18th. Stockholders of record on Tuesday, October 3rd will be issued a dividend of $0.45 per share. The ex-dividend date is Monday, October 2nd. This represents a $1.80 annualized dividend and a dividend yield of 1.95%. Quest Diagnostics’s dividend payout ratio (DPR) is presently 36.29%.
In other news, Director Jeffrey M. Leiden sold 1,304 shares of the company’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $108.73, for a total transaction of $141,783.92. Following the completion of the transaction, the director now directly owns 6,296 shares in the company, valued at $684,564.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel Stanzione sold 3,803 shares of the company’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $108.01, for a total transaction of $410,762.03. Following the transaction, the director now owns 35,359 shares of the company’s stock, valued at $3,819,125.59. The disclosure for this sale can be found here. Insiders have sold 161,996 shares of company stock valued at $17,517,207 over the last quarter. Company insiders own 1.75% of the company’s stock.
Several large investors have recently made changes to their positions in DGX. Wellington Management Group LLP increased its holdings in shares of Quest Diagnostics by 77.0% during the first quarter. Wellington Management Group LLP now owns 369,359 shares of the medical research company’s stock worth $36,268,000 after buying an additional 160,723 shares in the last quarter. FMR LLC increased its holdings in Quest Diagnostics by 2.4% in the first quarter. FMR LLC now owns 759,611 shares of the medical research company’s stock valued at $74,586,000 after purchasing an additional 17,794 shares during the period. Teachers Advisors LLC increased its holdings in Quest Diagnostics by 23.6% in the first quarter. Teachers Advisors LLC now owns 219,065 shares of the medical research company’s stock valued at $21,510,000 after purchasing an additional 41,822 shares during the period. Teacher Retirement System of Texas increased its holdings in Quest Diagnostics by 6.7% in the first quarter. Teacher Retirement System of Texas now owns 30,663 shares of the medical research company’s stock valued at $3,011,000 after purchasing an additional 1,938 shares during the period. Finally, Trustmark National Bank Trust Department increased its holdings in Quest Diagnostics by 2.1% in the first quarter. Trustmark National Bank Trust Department now owns 13,711 shares of the medical research company’s stock valued at $1,346,000 after purchasing an additional 286 shares during the period. Institutional investors own 86.99% of the company’s stock.
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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