Quest Diagnostics (NYSE:DGX) Upgraded to "Outperform" at Leerink Partners

Quest Diagnostics (NYSE:DGX - Get Free Report) was upgraded by equities researchers at Leerink Partners from a "market perform" rating to an "outperform" rating in a research report issued on Monday, Marketbeat.com reports. The firm currently has a $174.00 price target on the medical research company's stock, up from their prior price target of $169.00. Leerink Partners' target price points to a potential upside of 14.17% from the stock's previous close.

Several other research firms have also weighed in on DGX. Robert W. Baird upgraded shares of Quest Diagnostics from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $157.00 to $182.00 in a report on Wednesday, October 23rd. Bank of America upped their price objective on Quest Diagnostics from $179.00 to $182.00 and gave the company a "buy" rating in a report on Friday, December 13th. Truist Financial raised their target price on Quest Diagnostics from $158.00 to $165.00 and gave the stock a "hold" rating in a research note on Monday, October 7th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $185.00 price target (up previously from $175.00) on shares of Quest Diagnostics in a research note on Tuesday, December 10th. Finally, Barclays raised their price objective on Quest Diagnostics from $154.00 to $168.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Quest Diagnostics has a consensus rating of "Moderate Buy" and a consensus target price of $172.15.

Quest Diagnostics Price Performance

DGX traded up $0.48 during trading on Monday, reaching $152.40. The company's stock had a trading volume of 779,768 shares, compared to its average volume of 655,356. The company has a market cap of $17.01 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 2.69 and a beta of 0.90. The firm has a fifty day simple moving average of $157.03 and a two-hundred day simple moving average of $151.75. Quest Diagnostics has a 1 year low of $123.04 and a 1 year high of $165.32. 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 (NYSE:DGX - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The medical research company reported $2.30 EPS for the quarter, topping analysts' consensus estimates of $2.26 by $0.04. The firm had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.43 billion. Quest Diagnostics had a return on equity of 15.25% and a net margin of 8.82%. The firm's revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.22 earnings per share. As a group, analysts anticipate that Quest Diagnostics will post 8.9 EPS for the current year.

Insiders Place Their Bets

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

Institutional Trading of Quest Diagnostics

A number of institutional investors have recently bought and sold shares of DGX. Larson Financial Group LLC lifted its stake 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 purchasing an additional 100 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of 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 buying an additional 194 shares during the last quarter. Sunbelt Securities Inc. acquired a new position in shares of Quest Diagnostics in the 2nd quarter valued at $40,000. Quarry LP purchased a new position in shares of Quest Diagnostics in the 2nd quarter valued at $74,000. Finally, Sentry Investment Management LLC acquired a new stake in Quest Diagnostics during the 3rd quarter worth $82,000. 88.06% of the stock is owned by hedge funds and other institutional investors.

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.