StockNews.com Upgrades Quest Diagnostics (NYSE:DGX) to "Buy"

Quest Diagnostics (NYSE:DGX - Get Free Report) was upgraded by investment analysts at StockNews.com from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Friday.

A number of other analysts have also weighed in on DGX. Bank of America upped their target price on shares of Quest Diagnostics from $179.00 to $182.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Morgan Stanley raised shares of Quest Diagnostics from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $145.00 to $172.00 in a report on Tuesday. Truist Financial lifted their price objective on Quest Diagnostics from $158.00 to $165.00 and gave the company a "hold" rating in a research note on Monday, October 7th. UBS Group boosted their target price on Quest Diagnostics from $165.00 to $166.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 23rd. Finally, Citigroup raised their price target on Quest Diagnostics from $165.00 to $185.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Quest Diagnostics presently has an average rating of "Moderate Buy" and an average price target of $169.15.

Quest Diagnostics Stock Performance

Shares of Quest Diagnostics stock traded up $1.58 during trading hours on Friday, reaching $153.10. The company had a trading volume of 1,344,317 shares, compared to its average volume of 917,121. The firm has a market cap of $17.09 billion, a PE ratio of 20.58, a price-to-earnings-growth ratio of 2.69 and a beta of 0.89. Quest Diagnostics has a one year low of $123.04 and a one year high of $165.32. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.25 and a quick ratio of 1.17. The business has a fifty day simple moving average of $157.03 and a 200 day simple moving average of $150.74.

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

Insider Activity

In other Quest Diagnostics news, CAO Michael J. Deppe sold 18,755 shares of the business's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $154.05, for a total transaction of $2,889,207.75. Following the transaction, the chief accounting officer now directly owns 34,941 shares of the company's stock, valued at approximately $5,382,661.05. The trade was a 34.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Karthik Kuppusamy sold 1,775 shares of Quest Diagnostics stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $156.92, for a total transaction of $278,533.00. Following the sale, the senior vice president now directly owns 9,734 shares in the company, valued at $1,527,459.28. The trade was a 15.42 % decrease in their position. The disclosure for this sale can be found here. 0.79% of the stock is owned by corporate insiders.

Institutional Trading of Quest Diagnostics

Several institutional investors and hedge funds have recently bought and sold shares of DGX. Avestar Capital LLC boosted its position in shares of Quest Diagnostics by 1.1% during the third quarter. Avestar Capital LLC now owns 6,288 shares of the medical research company's stock valued at $976,000 after purchasing an additional 71 shares in the last quarter. Legacy Financial Advisors Inc. lifted its position in Quest Diagnostics by 1.6% during the second quarter. Legacy Financial Advisors Inc. now owns 4,697 shares of the medical research company's stock valued at $643,000 after buying an additional 72 shares during the period. Empirical Finance LLC boosted its holdings in shares of Quest Diagnostics by 2.0% during the 3rd quarter. Empirical Finance LLC now owns 3,948 shares of the medical research company's stock valued at $613,000 after buying an additional 76 shares in the last quarter. Raymond James Trust N.A. grew its position in shares of Quest Diagnostics by 3.5% in the 3rd quarter. Raymond James Trust N.A. now owns 2,572 shares of the medical research company's stock worth $399,000 after buying an additional 88 shares during the period. Finally, Blue Trust Inc. increased its stake in shares of Quest Diagnostics by 6.8% in the 3rd quarter. Blue Trust Inc. now owns 1,392 shares of the medical research company's stock worth $216,000 after acquiring an additional 89 shares in the last quarter. 88.06% of the stock is currently 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.

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