Quest Diagnostics Incorporated (NYSE:DGX) Receives $169.15 Average PT from Brokerages

Shares of Quest Diagnostics Incorporated (NYSE:DGX - Get Free Report) have earned a consensus rating of "Moderate Buy" from the fifteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $169.15.

Several equities research analysts have issued reports on the stock. Baird R W upgraded shares of Quest Diagnostics from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 23rd. Truist Financial raised their target price on shares of Quest Diagnostics from $158.00 to $165.00 and gave the stock a "hold" rating in a report on Monday, October 7th. UBS Group lifted their price objective on Quest Diagnostics from $165.00 to $166.00 and gave the company a "neutral" rating in a report on Wednesday, October 23rd. Bank of America boosted their price target on Quest Diagnostics from $179.00 to $182.00 and gave the company a "buy" rating in a research note on Friday, December 13th. Finally, Citigroup raised their target price on shares of Quest Diagnostics from $165.00 to $185.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd.

Quest Diagnostics Stock Down 0.3 %

Shares of NYSE DGX traded down $0.39 during trading hours on Friday, hitting $152.63. The company had a trading volume of 480,116 shares, compared to its average volume of 909,525. The firm's 50 day moving average is $157.42 and its 200-day moving average is $151.28. Quest Diagnostics has a 1-year low of $123.04 and a 1-year high of $165.32. The stock has a market capitalization of $17.04 billion, a P/E ratio of 20.51, a price-to-earnings-growth ratio of 2.69 and a beta of 0.89. The company has a quick ratio of 1.17, a current ratio of 1.25 and a debt-to-equity ratio of 0.83.

Quest Diagnostics (NYSE:DGX - Get Free Report) last posted 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 return on equity of 15.25% and a net margin of 8.82%. The business had revenue of $2.49 billion during the quarter, compared to analysts' expectations of $2.43 billion. During the same quarter last year, the company posted $2.22 earnings per share. Quest Diagnostics's quarterly revenue was up 8.5% on a year-over-year basis. On average, analysts expect that Quest Diagnostics will post 8.9 earnings per share for the current fiscal year.

Quest Diagnostics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Tuesday, January 14th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, January 14th. This represents a $3.00 annualized dividend and a yield of 1.97%. Quest Diagnostics's payout ratio is 40.32%.

Insider Activity at Quest Diagnostics

In other news, CAO Michael J. Deppe sold 18,755 shares of the company'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 value of $2,889,207.75. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Karthik Kuppusamy sold 1,775 shares of the company's stock in a transaction 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 completion of the transaction, the senior vice president now owns 9,734 shares of the company's stock, valued at $1,527,459.28. This trade represents a 15.42 % decrease in their position. The disclosure for this sale can be found here. 0.79% of the stock is owned by insiders.

Hedge Funds Weigh In On Quest Diagnostics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Landscape Capital Management L.L.C. purchased a new position in Quest Diagnostics in the third quarter valued at about $1,363,000. Natixis Advisors LLC lifted its stake in Quest Diagnostics by 7.7% in the third quarter. Natixis Advisors LLC now owns 92,830 shares of the medical research company's stock valued at $14,412,000 after purchasing an additional 6,619 shares during the last quarter. Sanctuary Advisors LLC grew its holdings 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 valued at $2,940,000 after purchasing an additional 8,282 shares during the period. Icon Wealth Advisors LLC raised its stake in shares of Quest Diagnostics by 8,669.8% in the third quarter. Icon Wealth Advisors LLC now owns 62,178 shares of the medical research company's stock valued at $9,653,000 after buying an additional 61,469 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in shares of Quest Diagnostics by 25.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 747,298 shares of the medical research company's stock valued at $116,018,000 after buying an additional 151,365 shares during the last quarter. 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.