Quest Diagnostics (NYSE:DGX) Upgraded at Baird R W

Baird R W upgraded shares of Quest Diagnostics (NYSE:DGX) from a hold rating to a strong-buy rating in a research report report published on Wednesday morning, Zacks.com reports.

Several other research analysts have also issued reports on the stock. Truist Financial increased their target price on shares of Quest Diagnostics from $158.00 to $165.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. UBS Group boosted their target price on Quest Diagnostics from $165.00 to $166.00 and gave the stock a “neutral” rating in a research note on Wednesday. Piper Sandler lifted their price objective on shares of Quest Diagnostics from $145.00 to $150.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Citigroup boosted their price objective on Quest Diagnostics from $165.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, StockNews.com lowered Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Wednesday. Nine equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $163.33.

Quest Diagnostics Stock Performance

NYSE:DGX opened at $155.04 on Wednesday. The stock’s 50-day simple moving average is $153.12 and its 200 day simple moving average is $144.83. Quest Diagnostics has a twelve month low of $123.04 and a twelve month high of $160.95. 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 market capitalization of $17.22 billion, a PE ratio of 20.87, a price-to-earnings-growth ratio of 2.45 and a beta of 0.89.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings results on Tuesday, October 22nd. The medical research company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter last year, the firm earned $2.22 earnings per share. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, analysts anticipate that Quest Diagnostics will post 8.89 EPS for the current fiscal year.

Quest Diagnostics Announces Dividend

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

Insider Buying and Selling at Quest Diagnostics

In related news, SVP Karthik Kuppusamy sold 1,990 shares of the firm’s stock in a transaction 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 completion of the sale, the senior vice president now owns 11,459 shares of the company’s stock, valued at $1,756,206.34. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.79% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Quest Diagnostics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. WD Rutherford LLC grew its holdings in shares of Quest Diagnostics by 9.6% during the first quarter. WD Rutherford LLC now owns 2,900 shares of the medical research company’s stock valued at $386,000 after buying an additional 255 shares during the last quarter. Occidental Asset Management LLC lifted its position in shares of Quest Diagnostics by 7.0% in the first quarter. Occidental Asset Management LLC now owns 20,471 shares of the medical research company’s stock worth $2,725,000 after buying an additional 1,341 shares in the last quarter. Toth Financial Advisory Corp increased its position in Quest Diagnostics by 2.1% in the first quarter. Toth Financial Advisory Corp now owns 19,196 shares of the medical research company’s stock worth $2,555,000 after purchasing an additional 402 shares during the last quarter. Waterway Wealth Management LLC lifted its holdings in shares of Quest Diagnostics by 14.4% in the 1st quarter. Waterway Wealth Management LLC now owns 3,481 shares of the medical research company’s stock valued at $463,000 after acquiring an additional 438 shares during the last quarter. Finally, Wasatch Advisors LP bought a new stake in Quest Diagnostics in the first quarter worth $4,747,000. 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.