Quest Diagnostics (NYSE:DGX) Shares Gap Up to $130.09

Quest Diagnostics Incorporated (NYSE:DGX)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $130.09, but opened at $135.00. Quest Diagnostics shares last traded at $135.14, with a volume of 289,912 shares trading hands.

Wall Street Analysts Forecast Growth

DGX has been the topic of a number of recent analyst reports. Barclays began coverage on Quest Diagnostics in a report on Wednesday, January 3rd. They issued an “equal weight” rating and a $145.00 price objective on the stock. StockNews.com downgraded shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Wednesday, April 17th. TheStreet downgraded Quest Diagnostics from a “b-” rating to a “c” rating in a report on Monday, February 5th. Leerink Partnrs reissued a “market perform” rating on shares of Quest Diagnostics in a research report on Monday, February 26th. Finally, Truist Financial restated a “hold” rating and issued a $145.00 price target on shares of Quest Diagnostics in a research report on Wednesday, March 20th. Ten equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Quest Diagnostics has a consensus rating of “Hold” and a consensus price target of $144.18.

Quest Diagnostics Stock Performance

The company has a current ratio of 1.31, a quick ratio of 1.20 and a debt-to-equity ratio of 0.70. The stock’s 50 day moving average price is $128.32 and its two-hundred day moving average price is $130.95. The firm has a market capitalization of $15.17 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 2.77 and a beta of 0.91.

Quest Diagnostics (NYSE:DGX) last issued its earnings results on Thursday, February 1st. The medical research company reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.11 by $0.04. Quest Diagnostics had a net margin of 9.23% and a return on equity of 15.79%. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same period in the prior year, the business posted $1.98 earnings per share. The firm’s revenue for the quarter was down 1.9% compared to the same quarter last year. On average, analysts forecast that Quest Diagnostics Incorporated will post 8.75 EPS for the current year.

Quest Diagnostics Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 8th were issued a $0.75 dividend. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Friday, April 5th. This represents a $3.00 annualized dividend and a yield of 2.20%. Quest Diagnostics’s dividend payout ratio is 37.92%.

Insider Transactions at Quest Diagnostics

In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 5,611 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $125.88, for a total value of $706,312.68. Following the sale, the senior vice president now owns 38,478 shares of the company’s stock, valued at $4,843,610.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 5,611 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $125.88, for a total transaction of $706,312.68. Following the sale, the senior vice president now directly owns 38,478 shares of the company’s stock, valued at approximately $4,843,610.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Catherine T. Doherty sold 821 shares of Quest Diagnostics stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $126.14, for a total transaction of $103,560.94. Following the completion of the sale, the executive vice president now directly owns 70,800 shares of the company’s stock, valued at $8,930,712. The disclosure for this sale can be found here. Insiders sold 15,150 shares of company stock valued at $1,913,202 in the last 90 days. 0.79% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Quest Diagnostics

Several large investors have recently added to or reduced their stakes in the business. Wesbanco Bank Inc. lifted its holdings in shares of Quest Diagnostics by 55.2% during the 1st quarter. Wesbanco Bank Inc. now owns 3,790 shares of the medical research company’s stock worth $504,000 after acquiring an additional 1,348 shares during the period. Stablepoint Partners LLC raised its stake in Quest Diagnostics by 19.5% during the first quarter. Stablepoint Partners LLC now owns 14,065 shares of the medical research company’s stock worth $1,872,000 after purchasing an additional 2,299 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Quest Diagnostics by 4.9% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 59,859 shares of the medical research company’s stock valued at $7,968,000 after purchasing an additional 2,807 shares during the last quarter. Byrne Asset Management LLC grew its stake in shares of Quest Diagnostics by 2.5% during the 1st quarter. Byrne Asset Management LLC now owns 7,106 shares of the medical research company’s stock valued at $946,000 after buying an additional 170 shares during the period. Finally, Raymond James & Associates increased its holdings in shares of Quest Diagnostics by 16.5% during the 1st quarter. Raymond James & Associates now owns 172,685 shares of the medical research company’s stock worth $22,986,000 after buying an additional 24,434 shares during the last quarter. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

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.