Quest Diagnostics Incorporated (NYSE:DGX) Given Average Recommendation of “Hold” by Brokerages

Shares of Quest Diagnostics Incorporated (NYSE:DGX) have received an average recommendation of “Hold” from the thirteen analysts that are presently covering the firm, Marketbeat.com reports. Nine investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $154.92.

DGX has been the topic of a number of recent analyst reports. StockNews.com upgraded Quest Diagnostics from a “hold” rating to a “buy” rating in a research report on Tuesday. Barclays boosted their price target on Quest Diagnostics from $144.00 to $154.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 27th. Evercore ISI began coverage on Quest Diagnostics in a report on Wednesday, August 28th. They set an “in-line” rating and a $165.00 price target on the stock. Robert W. Baird boosted their price target on Quest Diagnostics from $153.00 to $154.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Finally, Piper Sandler boosted their price target on Quest Diagnostics from $145.00 to $150.00 and gave the stock a “neutral” rating in a report on Monday, July 29th.

Quest Diagnostics Stock Up 0.2 %

DGX stock opened at $149.00 on Tuesday. Quest Diagnostics has a 52 week low of $120.87 and a 52 week high of $159.36. 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 business has a 50-day simple moving average of $152.57 and a 200 day simple moving average of $143.64. The company has a market cap of $16.55 billion, a PE ratio of 20.05, a price-to-earnings-growth ratio of 2.45 and a beta of 0.89.

Quest Diagnostics (NYSE:DGX) last released its earnings results on Tuesday, July 23rd. The medical research company reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.04. Quest Diagnostics had a return on equity of 15.35% and a net margin of 8.99%. The firm had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.39 billion. During the same quarter in the previous year, the business posted $2.30 earnings per share. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. Sell-side analysts anticipate that Quest Diagnostics will post 8.89 EPS for the current fiscal year.

Quest Diagnostics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Friday, October 4th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Friday, October 4th. Quest Diagnostics’s dividend payout ratio (DPR) is presently 40.38%.

Insider Buying and Selling at Quest Diagnostics

In other news, SVP Mark E. Delaney sold 420 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $143.08, for a total transaction of $60,093.60. Following the transaction, the senior vice president now directly owns 5,019 shares of the company’s stock, valued at $718,118.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, SVP Mark E. Delaney sold 420 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $143.08, for a total transaction of $60,093.60. Following the transaction, the senior vice president now directly owns 5,019 shares of the company’s stock, valued at $718,118.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Karthik Kuppusamy sold 1,990 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $153.26, for a total value of $304,987.40. Following the transaction, the senior vice president now directly owns 11,459 shares in the company, valued at $1,756,206.34. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Quest Diagnostics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Quest Diagnostics by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 13,921,955 shares of the medical research company’s stock valued at $1,853,151,000 after buying an additional 345,754 shares during the last quarter. Wellington Management Group LLP grew its stake in Quest Diagnostics by 0.7% in the 4th quarter. Wellington Management Group LLP now owns 2,632,326 shares of the medical research company’s stock valued at $362,945,000 after purchasing an additional 18,533 shares during the period. Davis Selected Advisers grew its stake in Quest Diagnostics by 0.4% in the 2nd quarter. Davis Selected Advisers now owns 2,390,828 shares of the medical research company’s stock valued at $327,257,000 after purchasing an additional 9,665 shares during the period. Dimensional Fund Advisors LP grew its stake in Quest Diagnostics by 6.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,109,515 shares of the medical research company’s stock valued at $288,758,000 after purchasing an additional 129,395 shares during the period. Finally, Nuance Investments LLC grew its stake in Quest Diagnostics by 13.1% in the 1st quarter. Nuance Investments LLC now owns 681,636 shares of the medical research company’s stock valued at $90,733,000 after purchasing an additional 79,152 shares during the period. 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.