Quest Diagnostics (NYSE:DGX) Upgraded at 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 Tuesday.

Several other research analysts have also commented on DGX. Citigroup lifted their price objective on shares of Quest Diagnostics from $130.00 to $145.00 and gave the stock a neutral rating in a research note on Monday, December 11th. Leerink Partnrs reaffirmed a market perform rating on shares of Quest Diagnostics in a research note on Monday, February 26th. SVB Leerink began coverage on shares of Quest Diagnostics in a research note on Monday, February 26th. They set a market perform rating and a $135.00 price objective for the company. Truist Financial reaffirmed a hold rating and set a $145.00 price objective on shares of Quest Diagnostics in a research note on Wednesday, March 20th. Finally, TheStreet lowered shares of Quest Diagnostics from a b- rating to a c rating in a research note on Monday, February 5th. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $144.18.

Quest Diagnostics Trading Down 1.2 %

Shares of DGX opened at $130.02 on Tuesday. The company’s fifty day moving average is $128.06 and its 200 day moving average is $130.58. Quest Diagnostics has a fifty-two week low of $119.59 and a fifty-two week high of $148.62. The stock has a market capitalization of $14.44 billion, a PE ratio of 17.36, a P/E/G ratio of 2.81 and a beta of 0.91. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.20 and a current ratio of 1.31.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings results on Thursday, February 1st. The medical research company reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.11 by $0.04. Quest Diagnostics had a net margin of 9.23% and a return on equity of 15.79%. The company had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.25 billion. During the same quarter in the previous year, the business posted $1.98 earnings per share. Quest Diagnostics’s quarterly revenue was down 1.9% on a year-over-year basis. Sell-side analysts expect that Quest Diagnostics will post 8.75 earnings per share for the current fiscal year.

Quest Diagnostics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 22nd. Shareholders of record on Monday, April 8th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.31%. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Friday, April 5th. Quest Diagnostics’s dividend payout ratio is presently 37.92%.

Insiders Place Their Bets

In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 5,611 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $125.88, for a total transaction of $706,312.68. Following the transaction, the senior vice president now directly owns 38,478 shares in the company, valued at approximately $4,843,610.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 661 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $126.14, for a total transaction of $83,378.54. Following the completion of the sale, the senior vice president now directly owns 40,206 shares of the company’s stock, valued at $5,071,584.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Michael E. Prevoznik sold 5,611 shares of the 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 completion of the transaction, the senior vice president now directly owns 38,478 shares of the company’s stock, valued at $4,843,610.64. The disclosure for this sale can be found here. Insiders have sold a total of 15,150 shares of company stock worth $1,913,202 in the last three months. Corporate insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On Quest Diagnostics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Crestmont Private Wealth LLC raised its position in shares of Quest Diagnostics by 16.4% in the 1st quarter. Crestmont Private Wealth LLC now owns 2,916 shares of the medical research company’s stock valued at $388,000 after purchasing an additional 411 shares during the last quarter. International Assets Investment Management LLC raised its position in Quest Diagnostics by 118.0% during the 1st quarter. International Assets Investment Management LLC now owns 55,335 shares of the medical research company’s stock worth $7,366,000 after buying an additional 29,950 shares during the last quarter. Dakota Community Bank & Trust NA raised its position in Quest Diagnostics by 26.7% during the 1st quarter. Dakota Community Bank & Trust NA now owns 1,744 shares of the medical research company’s stock worth $232,000 after buying an additional 367 shares during the last quarter. Private Capital Management LLC raised its position in Quest Diagnostics by 19.2% during the 4th quarter. Private Capital Management LLC now owns 6,200 shares of the medical research company’s stock worth $855,000 after buying an additional 1,000 shares during the last quarter. Finally, Banque Cantonale Vaudoise raised its position in Quest Diagnostics by 6.9% during the 1st quarter. Banque Cantonale Vaudoise now owns 22,022 shares of the medical research company’s stock worth $2,930,000 after buying an additional 1,423 shares during 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.