Several other brokerages have also commented on DGX. Jefferies Group increased their price objective on Quest Diagnostics from $75.00 to $86.00 and gave the company a hold rating in a research report on Friday, July 22nd. Evercore ISI restated a hold rating and set a $89.50 price target (up from $78.50) on shares of Quest Diagnostics in a research report on Sunday, July 24th. Zacks Investment Research upgraded Quest Diagnostics from a hold rating to a buy rating and set a $94.00 price target on the stock in a research report on Friday, July 22nd. Mizuho raised their price target on Quest Diagnostics from $86.00 to $88.00 and gave the stock a neutral rating in a research report on Friday. Finally, Jyske Bank lowered Quest Diagnostics from a neutral rating to a sell rating in a research report on Friday, June 24th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $82.65.
Shares of Quest Diagnostics (NYSE:DGX) opened at 83.67 on Thursday. Quest Diagnostics has a 12-month low of $59.66 and a 12-month high of $86.85. The stock’s 50 day moving average price is $83.74 and its 200 day moving average price is $80.77. The company has a market cap of $11.60 billion, a P/E ratio of 17.76 and a beta of 0.70.
Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings data on Thursday, October 20th. The company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.35 by $0.02. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.53 billion. Quest Diagnostics had a return on equity of 14.57% and a net margin of 9.01%. The company’s revenue was up .3% on a year-over-year basis. During the same period in the prior year, the company earned $1.28 EPS. On average, analysts forecast that Quest Diagnostics will post $5.11 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 19th. Stockholders of record on Tuesday, October 4th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend was Friday, September 30th. Quest Diagnostics’s payout ratio is presently 34.04%.
In other news, Director Jenne K. Britell sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $84.76, for a total value of $339,040.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey M. Leiden sold 6,345 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $85.62, for a total value of $543,258.90. Following the completion of the transaction, the director now owns 7,233 shares of the company’s stock, valued at approximately $619,289.46. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Citizens Financial Group Inc RI raised its position in Quest Diagnostics by 1,610.2% in the first quarter. Citizens Financial Group Inc RI now owns 1,676 shares of the company’s stock worth $119,000 after buying an additional 1,578 shares during the period. Financial Architects Inc raised its position in Quest Diagnostics by 6.4% in the second quarter. Financial Architects Inc now owns 1,476 shares of the company’s stock worth $120,000 after buying an additional 89 shares during the period. Pinkerton Retirement Specialists LLC raised its position in Quest Diagnostics by 792.4% in the second quarter. Pinkerton Retirement Specialists LLC now owns 1,651 shares of the company’s stock worth $134,000 after buying an additional 1,466 shares during the period. Integrated Investment Consultants LLC raised its position in Quest Diagnostics by 10.4% in the second quarter. Integrated Investment Consultants LLC now owns 1,869 shares of the company’s stock worth $152,000 after buying an additional 176 shares during the period. Finally, Creative Planning raised its position in Quest Diagnostics by 13.5% in the second quarter. Creative Planning now owns 1,972 shares of the company’s stock worth $161,000 after buying an additional 234 shares during the period. Institutional investors own 91.29% 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 Company’s Diagnostic Information Services business develops and delivers diagnostic testing information and services to patients, physicians, health plans, hospitals, accountable care organizations (ACOs), integrated delivery networks (IDNs), other commercial laboratories, employers and others.
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