Quest Diagnostics (NYSE:DGX) Price Target Raised to $180.00

Quest Diagnostics (NYSE:DGX) had its price objective boosted by JPMorgan Chase & Co. from $173.00 to $180.00 in a report issued on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the medical research company’s stock.

Other equities research analysts also recently issued reports about the stock. Bank of America increased their price objective on shares of Quest Diagnostics from $179.00 to $182.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Jefferies Financial Group reiterated a “buy” rating and set a $185.00 price objective (up from $175.00) on shares of Quest Diagnostics in a research note on Tuesday, December 10th. Piper Sandler reiterated a “neutral” rating and set a $180.00 price objective (up from $165.00) on shares of Quest Diagnostics in a research note on Monday. StockNews.com upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a research note on Wednesday, January 29th. Finally, Baird R W upgraded shares of Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $177.69.

Quest Diagnostics Price Performance

NYSE:DGX opened at $162.46 on Tuesday. Quest Diagnostics has a 52 week low of $123.30 and a 52 week high of $167.08. The firm has a market cap of $18.13 billion, a price-to-earnings ratio of 21.13, a P/E/G ratio of 2.54 and a beta of 0.91. The firm’s 50-day simple moving average is $155.46 and its 200 day simple moving average is $154.01. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.02 and a current ratio of 1.10.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings results on Thursday, January 30th. The medical research company reported $2.23 EPS for the quarter, topping analysts’ consensus estimates of $2.19 by $0.04. Quest Diagnostics had a net margin of 8.80% and a return on equity of 15.07%. As a group, sell-side analysts predict that Quest Diagnostics will post 9.71 earnings per share for the current year.

Quest Diagnostics Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be issued a dividend of $0.80 per share. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.75. The ex-dividend date is Monday, April 7th. This represents a $3.20 annualized dividend and a yield of 1.97%. Quest Diagnostics’s dividend payout ratio (DPR) is presently 39.01%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Sierra Ocean LLC bought a new position in Quest Diagnostics during the 4th quarter worth approximately $33,000. Versant Capital Management Inc increased its stake in shares of Quest Diagnostics by 340.4% in the 4th quarter. Versant Capital Management Inc now owns 251 shares of the medical research company’s stock valued at $38,000 after acquiring an additional 194 shares in the last quarter. First Financial Corp IN bought a new stake in shares of Quest Diagnostics in the 4th quarter valued at $38,000. FPC Investment Advisory Inc. bought a new stake in shares of Quest Diagnostics in the 4th quarter valued at $45,000. Finally, Global Trust Asset Management LLC bought a new stake in shares of Quest Diagnostics in the 4th quarter valued at $49,000. 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.