Quest Diagnostics (NYSE:DGX) Sets New 1-Year High - Still a Buy?

Quest Diagnostics Incorporated (NYSE:DGX - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $171.68 and last traded at $171.56, with a volume of 89396 shares trading hands. The stock had previously closed at $169.65.

Wall Street Analyst Weigh In

DGX has been the subject of several research reports. UBS Group lifted their price objective on Quest Diagnostics from $166.00 to $170.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Truist Financial lifted their price objective on Quest Diagnostics from $172.00 to $182.00 and gave the stock a "hold" rating in a research report on Friday, January 31st. Bank of America upped their target price on shares of Quest Diagnostics from $179.00 to $182.00 and gave the company a "buy" rating in a report on Friday, December 13th. Jefferies Financial Group reissued a "buy" rating and set a $185.00 price objective (up previously from $175.00) on shares of Quest Diagnostics in a research note on Tuesday, December 10th. Finally, StockNews.com cut shares of Quest Diagnostics from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $177.69.

Quest Diagnostics Stock Up 0.2 %

The stock has a market cap of $19.25 billion, a price-to-earnings ratio of 22.42, a PEG ratio of 2.15 and a beta of 0.91. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.82. The stock has a fifty day moving average of $157.21 and a two-hundred day moving average of $155.68.

Quest Diagnostics (NYSE:DGX - Get Free Report) last released its quarterly earnings data 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 return on equity of 15.07% and a net margin of 8.80%. As a group, analysts predict that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Monday, April 7th. This is an increase from Quest Diagnostics's previous quarterly dividend of $0.75. Quest Diagnostics's dividend payout ratio (DPR) is currently 39.01%.

Insider Buying and Selling

In other news, SVP Mark E. Delaney sold 403 shares of Quest Diagnostics stock in a transaction that occurred 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 sale, the senior vice president now owns 4,624 shares in the company, valued at $759,723.20. This trade represents a 8.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Catherine T. Doherty sold 535 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $169.71, for a total transaction of $90,794.85. Following the completion of the transaction, the executive vice president now owns 71,356 shares of the company's stock, valued at $12,109,826.76. This trade represents a 0.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 2,792 shares of company stock valued at $465,998. Company insiders own 0.79% of the company's stock.

Hedge Funds Weigh In On Quest Diagnostics

Institutional investors have recently added to or reduced their stakes in the company. Landscape Capital Management L.L.C. purchased a new stake in shares of Quest Diagnostics during the third quarter worth about $1,363,000. Sanctuary Advisors LLC increased its holdings in Quest Diagnostics by 85.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 17,969 shares of the medical research company's stock worth $2,940,000 after purchasing an additional 8,282 shares during the last quarter. Natixis Advisors LLC raised 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 purchasing an additional 6,619 shares in the last quarter. BankPlus Wealth Management LLC purchased a new position in shares of Quest Diagnostics during the 4th quarter valued at approximately $355,000. Finally, Icon Wealth Advisors LLC grew its position in shares of Quest Diagnostics by 8,669.8% during the third quarter. Icon Wealth Advisors LLC now owns 62,178 shares of the medical research company's stock worth $9,653,000 after buying an additional 61,469 shares in the last quarter. 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.