Quest Diagnostics (NYSE:DGX) Shares Gap Down – Should You Sell?

Quest Diagnostics Incorporated (NYSE:DGX)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $172.45, but opened at $168.73. Quest Diagnostics shares last traded at $165.14, with a volume of 121,622 shares.

Analysts Set New Price Targets

A number of research analysts have commented on DGX shares. Bank of America upped their price objective on Quest Diagnostics from $179.00 to $182.00 and gave the company a “buy” rating in a report on Friday, December 13th. Piper Sandler restated a “neutral” rating and issued a $180.00 price target (up from $165.00) on shares of Quest Diagnostics in a research note on Monday, February 3rd. JPMorgan Chase & Co. lifted their price objective on Quest Diagnostics from $173.00 to $180.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Citigroup lowered shares of Quest Diagnostics from a “buy” rating to a “neutral” rating and set a $185.00 target price on the stock. in a report on Tuesday, March 4th. Finally, Leerink Partnrs raised Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Quest Diagnostics currently has a consensus rating of “Moderate Buy” and an average price target of $178.23.

Quest Diagnostics Trading Down 3.4 %

The company has a market cap of $18.49 billion, a P/E ratio of 21.62, a PEG ratio of 2.16 and a beta of 0.92. The firm’s 50 day moving average is $164.35 and its two-hundred day moving average is $158.41. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.82.

Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings data 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 return on equity of 15.07% and a net margin of 8.80%. As a group, equities research analysts anticipate that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be issued a $0.80 dividend. 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 1.92%. Quest Diagnostics’s payout ratio is presently 41.61%.

Insider Buying and Selling at Quest Diagnostics

In other Quest Diagnostics news, EVP Catherine T. Doherty sold 535 shares of Quest Diagnostics stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $169.71, for a total value of $90,794.85. Following the completion of the sale, the executive vice president now directly owns 71,356 shares in the company, valued at approximately $12,109,826.76. The trade was a 0.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Michael E. Prevoznik sold 528 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $172.61, for a total value of $91,138.08. Following the transaction, the senior vice president now owns 39,031 shares in the company, valued at $6,737,140.91. The trade was a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,514 shares of company stock valued at $1,634,445. 0.79% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC acquired a new position in shares of Quest Diagnostics during the third quarter valued at about $224,000. OneDigital Investment Advisors LLC lifted its holdings in shares of Quest Diagnostics by 6.2% in the third quarter. OneDigital Investment Advisors LLC now owns 3,562 shares of the medical research company’s stock valued at $553,000 after purchasing an additional 209 shares in the last quarter. Empowered Funds LLC boosted its holdings in Quest Diagnostics by 92.3% during the 3rd quarter. Empowered Funds LLC now owns 19,920 shares of the medical research company’s stock worth $3,093,000 after acquiring an additional 9,559 shares during the last quarter. Natixis Advisors LLC boosted its holdings in Quest Diagnostics by 7.7% during the third quarter. Natixis Advisors LLC now owns 92,830 shares of the medical research company’s stock worth $14,412,000 after purchasing an additional 6,619 shares during the last quarter. Finally, Claro Advisors LLC purchased a new stake in Quest Diagnostics in the 3rd quarter valued at about $286,000. 88.06% of the stock is owned by institutional investors and hedge funds.

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.