Truist Financial Boosts Quest Diagnostics (NYSE:DGX) Price Target to $165.00

Quest Diagnostics (NYSE:DGX) had its price objective increased by analysts at Truist Financial from $158.00 to $165.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has a “hold” rating on the medical research company’s stock. Truist Financial’s target price points to a potential upside of 10.90% from the company’s previous close.

DGX has been the subject of several other research reports. Barclays upped their price target on shares of Quest Diagnostics from $144.00 to $154.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 27th. Piper Sandler raised their price target on shares of Quest Diagnostics from $145.00 to $150.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. StockNews.com raised Quest Diagnostics from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. Evercore ISI initiated coverage on Quest Diagnostics in a report on Wednesday, August 28th. They issued an “in-line” rating and a $165.00 price objective for the company. Finally, Robert W. Baird boosted their price target on Quest Diagnostics from $153.00 to $154.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Ten investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Quest Diagnostics has an average rating of “Hold” and an average target price of $154.92.

Quest Diagnostics Stock Performance

Shares of NYSE DGX opened at $148.78 on Monday. The company has a quick ratio of 0.91, a current ratio of 1.00 and a debt-to-equity ratio of 0.57. The firm’s 50-day moving average price is $152.40 and its two-hundred day moving average price is $143.13. Quest Diagnostics has a 52-week low of $120.10 and a 52-week high of $159.36. The stock has a market capitalization of $16.53 billion, a P/E ratio of 20.02, a P/E/G ratio of 2.80 and a beta of 0.89.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings results on Tuesday, July 23rd. The medical research company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.04. The business had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.39 billion. Quest Diagnostics had a return on equity of 15.35% and a net margin of 8.99%. The business’s revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the business posted $2.30 EPS. As a group, sell-side analysts forecast that Quest Diagnostics will post 8.89 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Karthik Kuppusamy sold 1,990 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $153.26, for a total value of $304,987.40. Following the sale, the senior vice president now directly owns 11,459 shares in the company, valued at $1,756,206.34. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, SVP Mark E. Delaney sold 420 shares of Quest Diagnostics stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $143.08, for a total value of $60,093.60. Following the transaction, the senior vice president now owns 5,019 shares of the company’s stock, valued at approximately $718,118.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Karthik Kuppusamy sold 1,990 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $153.26, for a total transaction of $304,987.40. Following the sale, the senior vice president now directly owns 11,459 shares of the company’s stock, valued at $1,756,206.34. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.79% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in DGX. CIBC Private Wealth Group LLC grew its position in Quest Diagnostics by 126.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 7,459 shares of the medical research company’s stock worth $1,028,000 after purchasing an additional 4,163 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Quest Diagnostics by 189.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 14,823 shares of the medical research company’s stock valued at $2,044,000 after buying an additional 9,706 shares during the period. Public Employees Retirement Association of Colorado lifted its stake in Quest Diagnostics by 315.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 12,476 shares of the medical research company’s stock worth $1,720,000 after acquiring an additional 9,476 shares in the last quarter. Cibc World Markets Corp boosted its position in Quest Diagnostics by 133.6% during the 4th quarter. Cibc World Markets Corp now owns 14,472 shares of the medical research company’s stock worth $1,995,000 after acquiring an additional 8,277 shares during the period. Finally, Evercore Wealth Management LLC purchased a new position in Quest Diagnostics during the 4th quarter valued at about $262,000. 88.06% of the stock is 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.