StockNews.com Lowers Quest Diagnostics (NYSE:DGX) to Hold

StockNews.com lowered shares of Quest Diagnostics (NYSE:DGX) from a buy rating to a hold rating in a research report report published on Wednesday morning.

Several other research firms have also recently weighed in on DGX. Citigroup boosted their price target on Quest Diagnostics from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday. Barclays upped their price target on shares of Quest Diagnostics from $154.00 to $168.00 and gave the company an “equal weight” rating in a research report on Wednesday. UBS Group lifted their price target on shares of Quest Diagnostics from $165.00 to $166.00 and gave the stock a “neutral” rating in a report on Wednesday. Robert W. Baird upgraded Quest Diagnostics from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $157.00 to $182.00 in a report on Wednesday. Finally, Truist Financial lifted their target price on Quest Diagnostics from $158.00 to $165.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Nine equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Quest Diagnostics presently has a consensus rating of “Hold” and a consensus price target of $163.33.

Quest Diagnostics Stock Down 1.9 %

DGX stock opened at $155.04 on Wednesday. The stock has a market capitalization of $17.22 billion, a P/E ratio of 20.87, a price-to-earnings-growth ratio of 2.45 and a beta of 0.89. The company has a current ratio of 1.00, a quick ratio of 0.91 and a debt-to-equity ratio of 0.57. The firm has a 50-day moving average price of $153.12 and a 200-day moving average price of $144.75. Quest Diagnostics has a 12 month low of $123.04 and a 12 month high of $160.95.

Quest Diagnostics (NYSE:DGX) last posted its earnings results on Tuesday, October 22nd. The medical research company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.04. Quest Diagnostics had a net margin of 8.99% and a return on equity of 15.35%. The firm had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter in the previous year, the firm posted $2.22 earnings per share. The company’s revenue was up 8.5% on a year-over-year basis. As a group, equities research analysts anticipate that Quest Diagnostics will post 8.89 EPS for the current fiscal year.

Quest Diagnostics Dividend Announcement

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

Insider Transactions at Quest Diagnostics

In related 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 value 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Quest Diagnostics

A number of hedge funds have recently bought and sold shares of DGX. Rothschild Investment LLC bought a new position in shares of Quest Diagnostics during the 2nd quarter worth approximately $26,000. Innealta Capital LLC bought a new stake in Quest Diagnostics in the second quarter worth about $31,000. Larson Financial Group LLC raised its holdings in shares of Quest Diagnostics by 77.5% in the 2nd quarter. Larson Financial Group LLC now owns 229 shares of the medical research company’s stock worth $31,000 after purchasing an additional 100 shares during the period. Riverview Trust Co purchased a new position in shares of Quest Diagnostics during the 1st quarter valued at $33,000. Finally, TruNorth Capital Management LLC bought a new stake in Quest Diagnostics in the 2nd quarter valued at about $33,000. 88.06% of the stock is owned by hedge funds and other institutional investors.

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.