Quest Diagnostics (NYSE:DGX) Downgraded by StockNews.com to "Hold"

Quest Diagnostics (NYSE:DGX - Get Free Report) was downgraded by research analysts at StockNews.com from a "buy" rating to a "hold" rating in a report released on Tuesday.

A number of other brokerages have also recently commented on DGX. Baird R W upgraded shares of Quest Diagnostics from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 23rd. Leerink Partners upgraded shares of Quest Diagnostics from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $169.00 to $174.00 in a report on Monday, January 6th. Leerink Partnrs upgraded Quest Diagnostics from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. Citigroup lifted their price objective on Quest Diagnostics from $165.00 to $185.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Finally, Barclays increased their target price on Quest Diagnostics from $154.00 to $168.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Quest Diagnostics presently has an average rating of "Moderate Buy" and an average price target of $172.15.

Quest Diagnostics Trading Down 0.8 %

NYSE:DGX traded down $1.18 during trading hours on Tuesday, hitting $152.84. The company had a trading volume of 622,926 shares, compared to its average volume of 704,403. 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 stock has a 50-day moving average price of $156.76 and a 200 day moving average price of $152.49. The company has a market capitalization of $17.06 billion, a PE ratio of 20.54, a price-to-earnings-growth ratio of 2.68 and a beta of 0.90. Quest Diagnostics has a 52 week low of $123.04 and a 52 week high of $165.32.

Quest Diagnostics (NYSE:DGX - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The medical research company reported $2.30 earnings per share for the quarter, beating 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 firm 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 firm posted $2.22 EPS. The company's revenue for the quarter was up 8.5% compared to the same quarter last year. On average, equities research analysts predict that Quest Diagnostics will post 8.9 EPS for the current fiscal year.

Insider Activity at Quest Diagnostics

In related news, CAO Michael J. Deppe sold 18,755 shares of the firm's stock in a transaction 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 transaction, the chief accounting officer now directly owns 34,941 shares of the company's stock, valued at approximately $5,382,661.05. This trade represents a 34.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Karthik Kuppusamy sold 1,775 shares of the business's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $156.92, for a total value of $278,533.00. Following the sale, the senior vice president now directly owns 9,734 shares of the company's stock, valued at $1,527,459.28. This 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 company insiders.

Institutional Trading of Quest Diagnostics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Versant Capital Management Inc raised its position in shares of Quest Diagnostics by 340.4% during the fourth quarter. Versant Capital Management Inc now owns 251 shares of the medical research company's stock valued at $38,000 after buying an additional 194 shares during the last quarter. First Financial Corp IN bought a new position in shares of Quest Diagnostics during the 4th quarter valued at about $38,000. Sunbelt Securities Inc. purchased a new position in shares of Quest Diagnostics during the second quarter valued at about $40,000. Sentry Investment Management LLC bought a new stake in shares of Quest Diagnostics in the third quarter worth about $82,000. Finally, Quarry LP purchased a new stake in shares of Quest Diagnostics in the second quarter worth about $74,000. 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.

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