Quest Diagnostics Incorporated (NYSE:DGX) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Quest Diagnostics Incorporated (NYSE:DGX) have been given a consensus recommendation of “Moderate Buy” by the fifteen analysts that are covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $178.38.

DGX has been the subject of several recent research reports. Citigroup cut Quest Diagnostics from a “buy” rating to a “neutral” rating and set a $185.00 price target for the company. in a research note on Tuesday, March 4th. UBS Group raised their price target on shares of Quest Diagnostics from $166.00 to $170.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Bank of America upped their price objective on shares of Quest Diagnostics from $179.00 to $182.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Piper Sandler reissued a “neutral” rating and set a $180.00 target price (up previously from $165.00) on shares of Quest Diagnostics in a research note on Monday, February 3rd. Finally, StockNews.com cut shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th.

Quest Diagnostics Stock Down 1.0 %

Shares of NYSE DGX opened at $166.25 on Friday. Quest Diagnostics has a 1 year low of $125.42 and a 1 year high of $178.87. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.10 and a quick ratio of 1.02. The firm has a market cap of $18.45 billion, a PE ratio of 21.62, a price-to-earnings-growth ratio of 2.16 and a beta of 0.92. The company has a 50 day simple moving average of $164.88 and a 200 day simple moving average of $158.53.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Thursday, January 30th. The medical research company reported $2.23 EPS for the quarter, topping analysts’ consensus estimates of $2.19 by $0.04. Quest Diagnostics had a net margin of 8.80% and a return on equity of 15.07%. On average, research analysts forecast that Quest Diagnostics will post 9.7 EPS for the current year.

Quest Diagnostics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Monday, April 7th. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.75. Quest Diagnostics’s payout ratio is 41.61%.

Insider Buying and Selling at Quest Diagnostics

In related news, SVP Mark E. Delaney sold 403 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $164.30, for a total value of $66,212.90. Following the completion of the sale, the senior vice president now directly owns 4,624 shares of the company’s stock, valued at approximately $759,723.20. This represents a 8.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Catherine T. Doherty sold 5,370 shares of Quest Diagnostics stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $174.13, for a total transaction of $935,078.10. Following the transaction, the executive vice president now directly owns 68,068 shares in the company, valued at $11,852,680.84. This represents a 7.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,157 shares of company stock valued at $2,423,755. Corporate insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Quest Diagnostics

Several hedge funds have recently modified their holdings of the company. Meiji Yasuda Asset Management Co Ltd. increased its position in shares of Quest Diagnostics by 1.6% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,843 shares of the medical research company’s stock valued at $580,000 after acquiring an additional 60 shares during the last quarter. Net Worth Advisory Group raised its stake in shares of Quest Diagnostics by 1.0% during the 4th quarter. Net Worth Advisory Group now owns 6,495 shares of the medical research company’s stock worth $980,000 after purchasing an additional 62 shares during the period. Bessemer Group Inc. boosted its holdings in shares of Quest Diagnostics by 0.3% in the 4th quarter. Bessemer Group Inc. now owns 20,811 shares of the medical research company’s stock worth $3,140,000 after buying an additional 65 shares during the last quarter. Brooklyn Investment Group grew its position in Quest Diagnostics by 5.5% during the fourth quarter. Brooklyn Investment Group now owns 1,315 shares of the medical research company’s stock valued at $198,000 after buying an additional 68 shares during the period. Finally, Avestar Capital LLC increased its holdings in Quest Diagnostics by 1.1% during the third quarter. Avestar Capital LLC now owns 6,288 shares of the medical research company’s stock worth $976,000 after buying an additional 71 shares during the last quarter. Institutional investors own 88.06% of the company’s stock.

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.