Quest Diagnostics (NYSE:DGX) Price Target Raised to $182.00 at Bank of America

Quest Diagnostics (NYSE:DGX - Get Free Report) had its price target lifted by Bank of America from $179.00 to $182.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the medical research company's stock. Bank of America's target price would indicate a potential upside of 17.42% from the stock's current price.

Several other analysts also recently issued reports on the company. Evercore ISI began coverage on Quest Diagnostics in a research note on Wednesday, August 28th. They set an "in-line" rating and a $165.00 target price on the stock. Jefferies Financial Group restated a "buy" rating and set a $185.00 target price (up previously from $175.00) on shares of Quest Diagnostics in a research report on Tuesday. Robert W. Baird upgraded shares of Quest Diagnostics from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $157.00 to $182.00 in a report on Wednesday, October 23rd. Baird R W upgraded Quest Diagnostics from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 23rd. Finally, Mizuho increased their price target on Quest Diagnostics from $160.00 to $174.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Nine research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $168.92.

Quest Diagnostics Stock Performance

DGX traded down $1.07 during midday trading on Friday, reaching $155.00. The company had a trading volume of 849,835 shares, compared to its average volume of 914,431. The business has a 50-day moving average of $156.57 and a two-hundred day moving average of $150.29. The company has a quick ratio of 1.17, a current ratio of 1.25 and a debt-to-equity ratio of 0.83. Quest Diagnostics has a 1 year low of $123.04 and a 1 year high of $165.32. The company has a market cap of $17.30 billion, a P/E ratio of 20.83, a P/E/G ratio of 2.69 and a beta of 0.89.

Quest Diagnostics (NYSE:DGX - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The medical research company reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.04. The business had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.43 billion. Quest Diagnostics had a net margin of 8.82% and a return on equity of 15.25%. The company's revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.22 earnings per share. As a group, equities research analysts predict that Quest Diagnostics will post 8.9 earnings per share for the current fiscal year.

Insider Transactions at Quest Diagnostics

In related news, SVP Karthik Kuppusamy sold 1,775 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $156.92, for a total transaction of $278,533.00. Following the completion of the sale, the senior vice president now owns 9,734 shares of the company's stock, valued at $1,527,459.28. This represents a 15.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Michael J. Deppe sold 18,755 shares of the firm's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $154.05, for a total value of $2,889,207.75. Following the completion of the sale, the chief accounting officer now directly owns 34,941 shares of the company's stock, valued at $5,382,661.05. The trade was a 34.93 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.79% of the company's stock.

Institutional Trading of Quest Diagnostics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rothschild Investment LLC acquired a new position in Quest Diagnostics during the second quarter valued at $26,000. Innealta Capital LLC purchased a new stake in shares of Quest Diagnostics in the second quarter worth about $31,000. Larson Financial Group LLC grew its holdings in Quest Diagnostics by 77.5% during the second quarter. Larson Financial Group LLC now owns 229 shares of the medical research company's stock worth $31,000 after acquiring an additional 100 shares during the period. EdgeRock Capital LLC purchased a new position in Quest Diagnostics during the second quarter valued at approximately $35,000. Finally, Sunbelt Securities Inc. acquired a new position in Quest Diagnostics in the second quarter valued at approximately $40,000. 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.