Quest Diagnostics (NYSE:DGX) Upgraded to "Overweight" at Morgan Stanley

Morgan Stanley upgraded shares of Quest Diagnostics (NYSE:DGX - Free Report) from an equal weight rating to an overweight rating in a report released on Tuesday morning, MarketBeat.com reports. The firm currently has $172.00 price target on the medical research company's stock, up from their prior price target of $145.00.

Other analysts have also recently issued research reports about the stock. Citigroup raised their price objective on shares of Quest Diagnostics from $165.00 to $185.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Mizuho upped their price target on shares of Quest Diagnostics from $160.00 to $174.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Evercore ISI began coverage on shares of Quest Diagnostics in a report on Wednesday, August 28th. They set an "in-line" rating and a $165.00 target price on the stock. StockNews.com lowered shares of Quest Diagnostics from a "buy" rating to a "hold" rating in a research report on Monday, November 18th. Finally, Baird R W raised shares of Quest Diagnostics from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 23rd. Nine analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $169.15.

Quest Diagnostics Stock Performance

Quest Diagnostics stock traded up $2.85 during trading hours on Tuesday, hitting $155.50. The company had a trading volume of 1,115,676 shares, compared to its average volume of 914,394. The firm has a market cap of $17.36 billion, a PE ratio of 20.52, a PEG ratio of 2.69 and a beta of 0.89. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.25 and a quick ratio of 1.17. Quest Diagnostics has a one year low of $123.04 and a one year high of $165.32. The firm has a 50-day moving average of $156.68 and a 200 day moving average of $150.55.

Quest Diagnostics (NYSE:DGX - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The medical research company reported $2.30 EPS for the quarter, topping analysts' consensus estimates of $2.26 by $0.04. Quest Diagnostics had a net margin of 8.82% and a return on equity of 15.25%. The company had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the previous year, the business earned $2.22 earnings per share. Quest Diagnostics's revenue was up 8.5% compared to the same quarter last year. On average, sell-side analysts expect that Quest Diagnostics will post 8.9 earnings per share for the current year.

Quest Diagnostics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Tuesday, January 14th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Tuesday, January 14th. Quest Diagnostics's dividend payout ratio (DPR) is 40.32%.

Insider Activity at Quest Diagnostics

In other Quest Diagnostics news, SVP Karthik Kuppusamy sold 1,775 shares of Quest Diagnostics stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $156.92, for a total value of $278,533.00. Following the transaction, the senior vice president now owns 9,734 shares in the company, valued at approximately $1,527,459.28. The trade was a 15.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Michael J. Deppe sold 18,755 shares of the company's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $154.05, for a total transaction of $2,889,207.75. Following the transaction, the chief accounting officer now directly owns 34,941 shares of the company's stock, valued at $5,382,661.05. This represents a 34.93 % decrease in their position. The disclosure for this sale can be found here. 0.79% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Quest Diagnostics

Institutional investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. increased its holdings in Quest Diagnostics by 45.8% during the third quarter. Franklin Resources Inc. now owns 54,897 shares of the medical research company's stock worth $8,180,000 after buying an additional 17,240 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Quest Diagnostics during the 3rd quarter valued at $201,000. Sanctuary Advisors LLC increased its position in Quest Diagnostics by 85.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 17,969 shares of the medical research company's stock valued at $2,940,000 after purchasing an additional 8,282 shares during the period. Pine Valley Investments Ltd Liability Co boosted its holdings in shares of Quest Diagnostics by 13.1% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 34,708 shares of the medical research company's stock valued at $5,388,000 after buying an additional 4,024 shares in the last quarter. Finally, Te Ahumairangi Investment Management Ltd boosted its stake in Quest Diagnostics by 3.1% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 50,004 shares of the medical research company's stock worth $7,719,000 after purchasing an additional 1,520 shares in the last quarter. 88.06% of the stock is owned by 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.