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Quest Diagnostics (NYSE:DGX) Given "Buy" Rating at Jefferies Financial Group

Quest Diagnostics logo with Medical background

Quest Diagnostics (NYSE:DGX - Get Free Report)'s stock had its "buy" rating reiterated by Jefferies Financial Group in a note issued to investors on Tuesday, MarketBeat reports. They currently have a $185.00 price target on the medical research company's stock, up from their previous price target of $175.00. Jefferies Financial Group's target price would suggest a potential upside of 16.75% from the company's previous close.

Several other research analysts have also recently issued reports on DGX. UBS Group raised their target price on shares of Quest Diagnostics from $165.00 to $166.00 and gave the stock a "neutral" rating in a report on Wednesday, October 23rd. Barclays boosted their price objective on Quest Diagnostics from $154.00 to $168.00 and gave the company an "equal weight" rating in a report on Wednesday, October 23rd. Evercore ISI initiated coverage on Quest Diagnostics in a report on Wednesday, August 28th. They set an "in-line" rating and a $165.00 target price on the stock. Mizuho boosted their price target on Quest Diagnostics from $160.00 to $174.00 and gave the company an "outperform" rating in a report on Thursday, October 24th. Finally, Truist Financial raised their price objective 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. Nine analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $167.08.

Check Out Our Latest Research Report on Quest Diagnostics

Quest Diagnostics Stock Performance

DGX traded up $0.26 on Tuesday, reaching $158.46. 1,017,361 shares of the stock were exchanged, compared to its average volume of 914,558. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.25 and a quick ratio of 1.17. The company's 50-day moving average price is $156.30 and its 200 day moving average price is $149.99. The firm has a market capitalization of $17.69 billion, a PE ratio of 21.30, a PEG ratio of 2.72 and a beta of 0.89. Quest Diagnostics has a fifty-two week low of $123.04 and a fifty-two week high of $165.32.

Quest Diagnostics (NYSE:DGX - Get Free Report) last released its 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 return on equity of 15.25% and a net margin of 8.82%. The firm had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the previous year, the company posted $2.22 earnings per share. The company's revenue was up 8.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Quest Diagnostics will post 8.9 EPS for the current fiscal year.

Insider Activity at Quest Diagnostics

In other news, CAO Michael J. Deppe sold 18,755 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The stock was 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 in the company, valued at $5,382,661.05. The trade was a 34.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Karthik Kuppusamy sold 1,775 shares of Quest Diagnostics stock in a transaction that occurred on Monday, October 28th. The stock was 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 position. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by corporate insiders.

Institutional Trading of Quest Diagnostics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. grew its stake in shares of Quest Diagnostics by 45.8% in the 3rd quarter. Franklin Resources Inc. now owns 54,897 shares of the medical research company's stock valued at $8,180,000 after buying an additional 17,240 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Quest Diagnostics in the third quarter worth approximately $201,000. Sanctuary Advisors LLC increased its stake in Quest Diagnostics by 85.5% during the third quarter. Sanctuary Advisors LLC now owns 17,969 shares of the medical research company's stock worth $2,940,000 after acquiring an additional 8,282 shares during the last quarter. Pine Valley Investments Ltd Liability Co raised its position in Quest Diagnostics by 13.1% in the third 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 purchasing an additional 4,024 shares during the period. Finally, Te Ahumairangi Investment Management Ltd lifted its stake in shares of 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 valued at $7,719,000 after purchasing an additional 1,520 shares during the last quarter. 88.06% of the stock is owned by institutional investors and hedge funds.

Quest Diagnostics Company Profile

(Get Free Report)

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.

Further Reading

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