Quest Diagnostics (NYSE:DGX) Sets New 12-Month High - Should You Buy?

Quest Diagnostics Incorporated (NYSE:DGX - Get Free Report) shares reached a new 52-week high on Monday . The stock traded as high as $177.36 and last traded at $177.22, with a volume of 195444 shares trading hands. The stock had previously closed at $172.90.

Analysts Set New Price Targets

Several research firms have weighed in on DGX. Robert W. Baird set a $189.00 price objective on shares of Quest Diagnostics in a research report on Friday, January 31st. Jefferies Financial Group restated a "buy" rating and issued a $185.00 price objective (up previously from $175.00) on shares of Quest Diagnostics in a research report on Tuesday, December 10th. Truist Financial raised their price objective on shares of Quest Diagnostics from $172.00 to $182.00 and gave the company a "hold" rating in a research report on Friday, January 31st. Piper Sandler reiterated a "neutral" rating and set a $180.00 price target (up previously from $165.00) on shares of Quest Diagnostics in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Quest Diagnostics from $173.00 to $180.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Quest Diagnostics presently has a consensus rating of "Moderate Buy" and a consensus target price of $178.23.

Quest Diagnostics Stock Down 0.2 %

The firm's 50 day moving average is $161.28 and its two-hundred day moving average is $157.39. The firm has a market cap of $19.06 billion, a P/E ratio of 22.33, a price-to-earnings-growth ratio of 2.16 and a beta of 0.92. The company has a current ratio of 1.10, a quick ratio of 1.02 and a debt-to-equity ratio of 0.82.

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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, topping 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, research analysts anticipate that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be paid a $0.80 dividend. The ex-dividend date is Monday, April 7th. This represents a $3.20 dividend on an annualized basis and a yield of 1.86%. This is a positive change from Quest Diagnostics's previous quarterly dividend of $0.75. Quest Diagnostics's payout ratio is presently 41.61%.

Insider Buying and Selling at Quest Diagnostics

In other Quest Diagnostics 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 value of $66,212.90. Following the transaction, the senior vice president now owns 4,624 shares of the company's stock, valued at approximately $759,723.20. The trade was a 8.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Michael E. Prevoznik sold 604 shares of Quest Diagnostics stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $170.99, for a total transaction of $103,277.96. Following the completion of the transaction, the senior vice president now directly owns 39,845 shares in the company, valued at approximately $6,813,096.55. The trade was a 1.49 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,144 shares of company stock valued at $699,367. 0.79% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Sierra Ocean LLC bought a new stake in shares of Quest Diagnostics in the fourth quarter worth $33,000. Versant Capital Management Inc lifted its position in shares of Quest Diagnostics by 340.4% in the fourth quarter. Versant Capital Management Inc now owns 251 shares of the medical research company's stock worth $38,000 after purchasing an additional 194 shares in the last quarter. First Financial Corp IN bought a new stake in shares of Quest Diagnostics in the fourth quarter worth $38,000. FPC Investment Advisory Inc. bought a new stake in shares of Quest Diagnostics in the fourth quarter worth $45,000. Finally, Global Trust Asset Management LLC bought a new stake in shares of Quest Diagnostics in the fourth quarter worth $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.