Quest Diagnostics Incorporated (NYSE:DGX) Short Interest Update

Quest Diagnostics Incorporated (NYSE:DGX) saw a significant decrease in short interest in the month of September. As of September 15th, there was short interest totalling 2,420,000 shares, a decrease of 5.1% from the August 31st total of 2,550,000 shares. Based on an average trading volume of 840,000 shares, the days-to-cover ratio is presently 2.9 days. Approximately 2.2% of the company’s stock are sold short.

Analyst Ratings Changes

Several brokerages recently weighed in on DGX. StockNews.com upgraded Quest Diagnostics from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Robert W. Baird lifted their target price on shares of Quest Diagnostics from $153.00 to $154.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Truist Financial upped their price target on shares of Quest Diagnostics from $150.00 to $158.00 and gave the company a “hold” rating in a research note on Monday, July 15th. Evercore ISI assumed coverage on shares of Quest Diagnostics in a report on Wednesday, August 28th. They set an “in-line” rating and a $165.00 price objective on the stock. Finally, Piper Sandler raised their target price on Quest Diagnostics from $145.00 to $150.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $154.33.

Insider Buying and Selling

In other Quest Diagnostics news, SVP Karthik Kuppusamy sold 1,990 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $153.26, for a total transaction of $304,987.40. Following the transaction, the senior vice president now owns 11,459 shares of the company’s stock, valued at approximately $1,756,206.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Quest Diagnostics news, SVP Mark E. Delaney sold 420 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $143.08, for a total transaction of $60,093.60. Following the completion of the sale, the senior vice president now directly owns 5,019 shares of the company’s stock, valued at $718,118.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Karthik Kuppusamy sold 1,990 shares of Quest Diagnostics stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $153.26, for a total transaction of $304,987.40. Following the completion of the transaction, the senior vice president now directly owns 11,459 shares in the company, valued at approximately $1,756,206.34. The disclosure for this sale can be found here. 0.79% of the stock is owned by insiders.

Institutional Investors Weigh In On Quest Diagnostics

Several institutional investors have recently bought and sold shares of the company. Legacy Financial Advisors Inc. boosted its stake in shares of Quest Diagnostics by 1.6% in the second quarter. Legacy Financial Advisors Inc. now owns 4,697 shares of the medical research company’s stock worth $643,000 after acquiring an additional 72 shares during the last quarter. Arkadios Wealth Advisors grew its holdings in shares of Quest Diagnostics by 1.6% during the first quarter. Arkadios Wealth Advisors now owns 4,933 shares of the medical research company’s stock worth $657,000 after buying an additional 77 shares in the last quarter. New England Capital Financial Advisors LLC raised its position in shares of Quest Diagnostics by 24.7% in the first quarter. New England Capital Financial Advisors LLC now owns 389 shares of the medical research company’s stock valued at $52,000 after buying an additional 77 shares during the last quarter. Meeder Advisory Services Inc. lifted its stake in shares of Quest Diagnostics by 4.9% in the second quarter. Meeder Advisory Services Inc. now owns 1,795 shares of the medical research company’s stock worth $246,000 after buying an additional 84 shares in the last quarter. Finally, Keudell Morrison Wealth Management boosted its position in Quest Diagnostics by 3.8% during the first quarter. Keudell Morrison Wealth Management now owns 2,312 shares of the medical research company’s stock worth $308,000 after acquiring an additional 85 shares during the last quarter. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Quest Diagnostics Stock Performance

Shares of NYSE DGX traded up $0.45 during midday trading on Monday, reaching $155.25. 934,251 shares of the stock were exchanged, compared to its average volume of 938,340. The company has a quick ratio of 0.91, a current ratio of 1.00 and a debt-to-equity ratio of 0.57. The firm has a 50-day simple moving average of $151.29 and a two-hundred day simple moving average of $141.97. Quest Diagnostics has a twelve month low of $119.59 and a twelve month high of $159.36. The firm has a market cap of $17.25 billion, a price-to-earnings ratio of 20.80, a PEG ratio of 2.80 and a beta of 0.89.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings data on Tuesday, July 23rd. The medical research company reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.04. Quest Diagnostics had a net margin of 8.99% and a return on equity of 15.35%. The business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the prior year, the firm posted $2.30 earnings per share. The company’s revenue was up 2.5% compared to the same quarter last year. As a group, analysts anticipate that Quest Diagnostics will post 8.89 EPS for the current fiscal year.

Quest Diagnostics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Friday, October 4th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend is Friday, October 4th. Quest Diagnostics’s dividend payout ratio is presently 40.38%.

Quest Diagnostics Company Profile

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.