Quest Diagnostics (NYSE:DGX) Given New $180.00 Price Target at JPMorgan Chase & Co.

Quest Diagnostics (NYSE:DGX - Get Free Report) had its target price hoisted by JPMorgan Chase & Co. from $173.00 to $180.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the medical research company's stock. JPMorgan Chase & Co.'s price objective indicates a potential upside of 10.14% from the company's previous close.

Other analysts have also recently issued research reports about the stock. Mizuho increased their price objective on shares of Quest Diagnostics from $177.00 to $178.00 and gave the stock an "outperform" rating in a report on Monday. UBS Group increased their price objective on shares of Quest Diagnostics from $166.00 to $170.00 and gave the stock a "neutral" rating in a report on Monday. Baird R W raised shares of Quest Diagnostics from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 23rd. Jefferies Financial Group reaffirmed a "buy" rating and issued a $185.00 price objective (up previously from $175.00) on shares of Quest Diagnostics in a report on Tuesday, December 10th. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $180.00 price objective (up previously from $165.00) on shares of Quest Diagnostics in a report on Monday. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Quest Diagnostics presently has an average rating of "Moderate Buy" and a consensus target price of $177.69.

Quest Diagnostics Stock Performance

DGX stock traded up $0.96 during trading on Tuesday, hitting $163.43. 889,794 shares of the company's stock traded hands, compared to its average volume of 1,033,613. 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 52 week low of $123.18 and a 52 week high of $167.08. The stock has a fifty day moving average price of $155.40 and a two-hundred day moving average price of $153.81. The stock has a market capitalization of $18.24 billion, a price-to-earnings ratio of 21.25, a price-to-earnings-growth ratio of 2.54 and a beta of 0.91.

Quest Diagnostics (NYSE:DGX - Get Free Report) last released its earnings results on Thursday, January 30th. The medical research company reported $2.23 earnings per share for the quarter, beating 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 analysts anticipate that Quest Diagnostics will post 9.71 EPS for the current fiscal year.

Insider Activity

In other Quest Diagnostics news, CAO Michael J. Deppe sold 18,755 shares of the firm's stock in a transaction dated Wednesday, November 6th. The shares were 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 in the company, valued at $5,382,661.05. This trade represents a 34.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.79% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in DGX. Mizuho Securities USA LLC boosted its holdings in shares of Quest Diagnostics by 5,168.5% in the third quarter. Mizuho Securities USA LLC now owns 451,403 shares of the medical research company's stock worth $70,080,000 after buying an additional 442,835 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of Quest Diagnostics by 25.4% in the third quarter. BNP Paribas Financial Markets now owns 747,298 shares of the medical research company's stock worth $116,018,000 after buying an additional 151,365 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Quest Diagnostics by 14.8% in the fourth quarter. Bank of New York Mellon Corp now owns 881,764 shares of the medical research company's stock worth $133,023,000 after purchasing an additional 113,956 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Quest Diagnostics by 535.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 128,440 shares of the medical research company's stock worth $19,376,000 after purchasing an additional 108,224 shares during the period. Finally, Principal Financial Group Inc. grew its position in Quest Diagnostics by 23.8% during the fourth quarter. Principal Financial Group Inc. now owns 543,472 shares of the medical research company's stock valued at $81,994,000 after purchasing an additional 104,495 shares in the last quarter. 88.06% of the stock is currently owned by institutional investors and hedge funds.

About Quest Diagnostics

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.