Robert W. Baird Forecasts Strong Price Appreciation for Quest Diagnostics (NYSE:DGX) Stock

Quest Diagnostics (NYSE:DGX - Get Free Report) had its target price lifted by stock analysts at Robert W. Baird from $190.00 to $191.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an "outperform" rating on the medical research company's stock. Robert W. Baird's price objective suggests a potential upside of 14.13% from the company's current price.

Other equities research analysts have also issued reports about the company. JPMorgan Chase & Co. increased their price target on Quest Diagnostics from $173.00 to $180.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. Truist Financial lifted their price target on Quest Diagnostics from $172.00 to $182.00 and gave the company a "hold" rating in a report on Friday, January 31st. Piper Sandler restated a "neutral" rating and issued a $180.00 price objective (up previously from $165.00) on shares of Quest Diagnostics in a research report on Monday, February 3rd. Jefferies Financial Group reaffirmed a "buy" rating and issued a $185.00 target price (up from $175.00) on shares of Quest Diagnostics in a research note on Tuesday, December 10th. Finally, Citigroup cut shares of Quest Diagnostics from a "buy" rating to a "neutral" rating and set a $185.00 price target on the stock. in a research note on Tuesday, March 4th. Eight analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $178.38.

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Quest Diagnostics Price Performance

Shares of NYSE DGX traded up $0.24 during midday trading on Thursday, reaching $167.35. 670,768 shares of the company traded hands, compared to its average volume of 877,391. Quest Diagnostics has a 12 month low of $125.42 and a 12 month high of $178.87. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.02 and a current ratio of 1.10. The stock's 50-day simple moving average is $165.45 and its 200-day simple moving average is $158.73. The firm has a market cap of $18.57 billion, a PE ratio of 21.76, a PEG ratio of 2.16 and a beta of 0.92.

Quest Diagnostics (NYSE:DGX - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The medical research company reported $2.23 earnings per share (EPS) 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 9.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Mark E. Delaney sold 403 shares of Quest Diagnostics stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $164.30, for a total transaction of $66,212.90. Following the transaction, the senior vice president now directly owns 4,624 shares of the company's stock, valued at $759,723.20. This trade represents a 8.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Michael E. Prevoznik sold 4,643 shares of Quest Diagnostics stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $170.00, for a total value of $789,310.00. Following the transaction, the senior vice president now owns 38,117 shares in the company, valued at approximately $6,479,890. This represents a 10.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,157 shares of company stock worth $2,423,755. Insiders own 0.79% of the company's stock.

Institutional Investors Weigh In On Quest Diagnostics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. OneDigital Investment Advisors LLC boosted its stake in shares of Quest Diagnostics by 6.2% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 3,562 shares of the medical research company's stock worth $553,000 after buying an additional 209 shares during the last quarter. Natixis Advisors LLC grew its position in shares of Quest Diagnostics by 7.7% in the 3rd quarter. Natixis Advisors LLC now owns 92,830 shares of the medical research company's stock valued at $14,412,000 after acquiring an additional 6,619 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of Quest Diagnostics by 98.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 18,967 shares of the medical research company's stock worth $2,945,000 after purchasing an additional 9,396 shares during the last quarter. Swiss National Bank raised its holdings in shares of Quest Diagnostics by 0.6% in the 3rd quarter. Swiss National Bank now owns 329,800 shares of the medical research company's stock valued at $51,201,000 after purchasing an additional 2,100 shares during the period. Finally, Pathstone Holdings LLC raised its holdings in shares of Quest Diagnostics by 4.5% in the 3rd quarter. Pathstone Holdings LLC now owns 42,641 shares of the medical research company's stock valued at $6,620,000 after purchasing an additional 1,820 shares during the period. 88.06% of the stock is currently owned by institutional investors and hedge funds.

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.