Quest Diagnostics (NYSE:DGX) Reaches New 12-Month High – What’s Next?

Quest Diagnostics Incorporated (NYSE:DGX) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $161.30 and last traded at $161.30, with a volume of 857 shares changing hands. The stock had previously closed at $159.37.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on DGX. StockNews.com downgraded shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Baird R W raised Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 23rd. Truist Financial increased their price target on Quest Diagnostics from $158.00 to $165.00 and gave the company a “hold” rating in a research report on Monday, October 7th. UBS Group boosted their price target 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, Piper Sandler increased their price objective on Quest Diagnostics from $150.00 to $165.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Nine investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $164.58.

Quest Diagnostics Stock Performance

The stock has a market capitalization of $18.05 billion, a price-to-earnings ratio of 21.74, a P/E/G ratio of 2.75 and a beta of 0.89. The company’s fifty day simple moving average is $153.59 and its 200 day simple moving average is $146.91. 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) last announced its quarterly earnings results on Tuesday, October 22nd. The medical research company reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.04. Quest Diagnostics had a net margin of 8.82% and a return on equity of 15.25%. The business had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the prior year, the business earned $2.22 EPS. Quest Diagnostics’s quarterly revenue was up 8.5% on a year-over-year basis. On average, equities research analysts expect that Quest Diagnostics Incorporated will post 8.9 earnings per share for the current year.

Quest Diagnostics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Tuesday, January 14th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.85%. Quest Diagnostics’s dividend payout ratio is 40.32%.

Insiders Place Their Bets

In related news, SVP Karthik Kuppusamy sold 1,775 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $156.92, for a total value of $278,533.00. Following the transaction, the senior vice president now directly owns 9,734 shares in the company, valued at approximately $1,527,459.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Quest Diagnostics news, CAO Michael J. Deppe sold 18,755 shares of Quest Diagnostics 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 transaction, 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 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Karthik Kuppusamy sold 1,775 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $156.92, for a total value of $278,533.00. Following the sale, the senior vice president now directly owns 9,734 shares in the company, valued at approximately $1,527,459.28. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,520 shares of company stock worth $3,472,728 in the last 90 days. Company insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Quest Diagnostics

Institutional investors and hedge funds have recently bought and sold shares of the company. Rothschild Investment LLC bought a new stake in shares of Quest Diagnostics during the 2nd quarter worth approximately $26,000. Innealta Capital LLC acquired a new stake in shares of Quest Diagnostics in the 2nd quarter valued at $31,000. Larson Financial Group LLC increased its stake in shares of Quest Diagnostics by 77.5% in the 2nd quarter. Larson Financial Group LLC now owns 229 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 100 shares during the last quarter. TruNorth Capital Management LLC acquired a new position in shares of Quest Diagnostics during the 2nd quarter worth $33,000. Finally, EdgeRock Capital LLC bought a new stake in shares of Quest Diagnostics during the 2nd quarter worth $35,000. Institutional investors own 88.06% of the company’s stock.

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.