Quest Diagnostics (NYSE:DGX) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Quest Diagnostics (NYSE:DGX) from a hold rating to a buy rating in a report published on Wednesday morning.

DGX has been the topic of a number of other reports. Bank of America raised their target price on shares of Quest Diagnostics from $179.00 to $182.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Jefferies Financial Group reaffirmed a “buy” rating and set a $185.00 price objective (up from $175.00) on shares of Quest Diagnostics in a report on Tuesday, December 10th. Leerink Partners raised Quest Diagnostics from a “market perform” rating to an “outperform” rating and increased their target price for the company from $169.00 to $174.00 in a research note on Monday, January 6th. Citigroup lifted their price target on Quest Diagnostics from $165.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Robert W. Baird upgraded Quest Diagnostics from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $157.00 to $182.00 in a research report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $174.00.

Quest Diagnostics Stock Performance

NYSE DGX opened at $162.77 on Wednesday. The company’s 50 day simple moving average is $155.42 and its two-hundred day simple moving average is $153.50. The stock has a market capitalization of $18.17 billion, a PE ratio of 21.88, a P/E/G ratio of 2.43 and a beta of 0.90. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.25 and a quick ratio of 1.17. Quest Diagnostics has a 1 year low of $123.04 and a 1 year high of $167.08.

Quest Diagnostics (NYSE:DGX) last posted its earnings results on Thursday, January 30th. The medical research company reported $2.23 EPS for the quarter, topping the consensus estimate of $2.19 by $0.04. Quest Diagnostics had a return on equity of 15.25% and a net margin of 8.82%. Analysts predict that Quest Diagnostics will post 8.9 earnings per share for the current fiscal 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 $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend is Monday, April 7th. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.75. Quest Diagnostics’s dividend payout ratio (DPR) is 40.32%.

Insider Activity

In related news, CAO Michael J. Deppe sold 18,755 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $154.05, for a total transaction of $2,889,207.75. Following the transaction, the chief accounting officer now owns 34,941 shares in the company, valued at $5,382,661.05. The trade was a 34.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Quest Diagnostics

Hedge funds have recently made changes to their positions in the business. Global Retirement Partners LLC boosted its holdings in Quest Diagnostics by 45.3% in the fourth quarter. Global Retirement Partners LLC now owns 555 shares of the medical research company’s stock valued at $84,000 after acquiring an additional 173 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund boosted its stake in shares of Quest Diagnostics by 56.3% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 5,150 shares of the medical research company’s stock valued at $777,000 after purchasing an additional 1,854 shares in the last quarter. Atria Wealth Solutions Inc. increased its position in shares of Quest Diagnostics by 16.0% during the fourth quarter. Atria Wealth Solutions Inc. now owns 3,075 shares of the medical research company’s stock valued at $464,000 after buying an additional 425 shares during the period. Citizens & Northern Corp raised its stake in Quest Diagnostics by 20.2% in the fourth quarter. Citizens & Northern Corp now owns 1,606 shares of the medical research company’s stock worth $242,000 after buying an additional 270 shares in the last quarter. Finally, Truist Financial Corp lifted its holdings in Quest Diagnostics by 1.0% in the fourth quarter. Truist Financial Corp now owns 21,124 shares of the medical research company’s stock worth $3,187,000 after buying an additional 213 shares during the period. 88.06% of the stock is owned by hedge funds and other institutional investors.

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.