Quest Diagnostics (NYSE:DGX) Sets New 12-Month High - Here's What Happened

Quest Diagnostics Incorporated (NYSE:DGX - Get Free Report)'s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $167.49 and last traded at $166.94, with a volume of 171795 shares trading hands. The stock had previously closed at $165.19.

Analyst Ratings Changes

Several brokerages recently commented on DGX. Leerink Partners raised shares of Quest Diagnostics from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $169.00 to $174.00 in a research note on Monday, January 6th. JPMorgan Chase & Co. boosted their price objective on shares of Quest Diagnostics from $173.00 to $180.00 and gave the company a "neutral" rating in a research note on Tuesday, February 4th. Baird R W raised shares of Quest Diagnostics from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 23rd. Piper Sandler reaffirmed a "neutral" rating and set a $180.00 price objective (up previously from $165.00) on shares of Quest Diagnostics in a research note on Monday, February 3rd. Finally, Mizuho boosted their price target on shares of Quest Diagnostics from $177.00 to $178.00 and gave the stock an "outperform" rating in a research note on Monday, February 3rd. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Quest Diagnostics currently has an average rating of "Moderate Buy" and an average price target of $177.69.

Quest Diagnostics Stock Up 0.1 %

The company has a market cap of $18.86 billion, a PE ratio of 21.97, a PEG ratio of 2.04 and a beta of 0.91. The stock's 50 day moving average price is $155.90 and its 200-day moving average price is $154.80. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.02 and a current ratio of 1.10.

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

Quest Diagnostics Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be issued a dividend of $0.80 per share. This is a positive change from Quest Diagnostics's previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Monday, April 7th. Quest Diagnostics's dividend payout ratio is currently 41.61%.

Insider Activity at Quest Diagnostics

In related news, Director Vicky B. Gregg sold 1,250 shares of the company's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $164.57, for a total transaction of $205,712.50. Following the completion of the sale, the director now directly owns 16,867 shares in the company, valued at $2,775,802.19. This represents a 6.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Mark E. Delaney sold 403 shares of the company's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $164.30, for a total transaction of $66,212.90. Following the completion of the transaction, the senior vice president now 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 disclosure for this sale can be found here. 0.79% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Quest Diagnostics

Institutional investors have recently made changes to their positions in the business. Sierra Ocean LLC bought a new stake in Quest Diagnostics during the 4th quarter worth approximately $33,000. Versant Capital Management Inc raised its stake 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 worth $38,000 after acquiring an additional 194 shares during the period. First Financial Corp IN bought a new stake in shares of Quest Diagnostics during the fourth quarter valued at approximately $38,000. FPC Investment Advisory Inc. bought a new stake in shares of Quest Diagnostics during the fourth quarter valued at approximately $45,000. Finally, Global Trust Asset Management LLC bought a new stake in shares of Quest Diagnostics during the fourth quarter valued at approximately $49,000. Institutional investors own 88.06% of the company's stock.

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.