Quest Diagnostics (NYSE:DGX) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Quest Diagnostics (NYSE:DGX - Free Report) from a buy rating to a hold rating in a report released on Thursday.

DGX has been the topic of a number of other research reports. Morgan Stanley raised Quest Diagnostics from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $145.00 to $172.00 in a report on Tuesday, December 17th. Mizuho boosted their target price on shares of Quest Diagnostics from $177.00 to $178.00 and gave the stock an "outperform" rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. increased their price target on shares of Quest Diagnostics from $173.00 to $180.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. Leerink Partners upgraded shares of Quest Diagnostics from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $169.00 to $174.00 in a research report on Monday, January 6th. Finally, UBS Group upped their price objective on shares of Quest Diagnostics from $166.00 to $170.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $177.69.

Quest Diagnostics Stock Performance

DGX stock traded up $0.02 during midday trading on Thursday, hitting $162.66. 499,450 shares of the company traded hands, compared to its average volume of 1,053,881. The business has a 50 day simple moving average of $155.44 and a 200-day simple moving average of $154.17. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.82. Quest Diagnostics has a twelve month low of $123.30 and a twelve month high of $167.08. The stock has a market capitalization of $18.15 billion, a price-to-earnings ratio of 21.15, a price-to-earnings-growth ratio of 2.04 and a beta of 0.91.

Quest Diagnostics (NYSE:DGX - Get Free Report) last announced its earnings results on Thursday, January 30th. The medical research company reported $2.23 EPS for the quarter, topping the consensus estimate of $2.19 by $0.04. Quest Diagnostics had a net margin of 8.80% and a return on equity of 15.07%. As a group, equities research analysts predict that Quest Diagnostics will post 9.7 earnings per share for the current year.

Quest Diagnostics Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be issued a dividend of $0.80 per share. The ex-dividend date is Monday, April 7th. This is a boost from Quest Diagnostics's previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.97%. Quest Diagnostics's dividend payout ratio (DPR) is presently 39.01%.

Insider Transactions at Quest Diagnostics

In other news, Director Vicky B. Gregg sold 1,250 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $164.57, for a total transaction of $205,712.50. Following the sale, the director now owns 16,867 shares in the company, valued at approximately $2,775,802.19. This represents a 6.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Mark E. Delaney sold 403 shares of Quest Diagnostics stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $164.30, for a total value of $66,212.90. Following the completion of the transaction, the senior vice president now directly owns 4,624 shares of the company's stock, valued at $759,723.20. This represents a 8.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.79% of the stock is owned by insiders.

Institutional Investors Weigh In On Quest Diagnostics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sierra Ocean LLC acquired a new position in shares of Quest Diagnostics during the fourth quarter valued at $33,000. Versant Capital Management Inc lifted its position in Quest Diagnostics by 340.4% during the 4th quarter. Versant Capital Management Inc now owns 251 shares of the medical research company's stock valued at $38,000 after purchasing an additional 194 shares during the period. First Financial Corp IN bought a new position in shares of Quest Diagnostics in the 4th quarter valued at about $38,000. FPC Investment Advisory Inc. acquired a new stake in shares of Quest Diagnostics during the 4th quarter worth approximately $45,000. Finally, Global Trust Asset Management LLC bought a new stake in shares of Quest Diagnostics during the fourth quarter worth approximately $49,000. Institutional investors and hedge funds 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.