Canaccord Genuity reiterated their buy rating on shares of Quest Diagnostics Incorporated (NYSE:DGX) in a research report report published on Wednesday morning. Canaccord Genuity currently has a $118.00 target price on the medical research company’s stock.
Other research analysts have also issued reports about the stock. Evercore ISI reiterated an in-line rating and set a $104.50 price target on shares of Quest Diagnostics in a research note on Wednesday, June 28th. UBS AG upped their target price on shares of Quest Diagnostics from $115.00 to $123.00 and gave the stock a buy rating in a research report on Thursday, July 6th. Barclays PLC restated a hold rating and set a $110.00 target price on shares of Quest Diagnostics in a research report on Wednesday, July 19th. BidaskClub upgraded shares of Quest Diagnostics from a sell rating to a hold rating in a research report on Tuesday, August 15th. Finally, Mizuho upped their target price on shares of Quest Diagnostics from $115.00 to $122.00 and gave the stock a buy rating in a research report on Monday, June 5th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Quest Diagnostics currently has a consensus rating of Buy and a consensus target price of $111.09.
Shares of Quest Diagnostics (DGX) opened at 104.96 on Wednesday. The firm has a market capitalization of $14.32 billion, a PE ratio of 21.15 and a beta of 0.69. The stock’s 50 day moving average price is $106.93 and its 200-day moving average price is $105.25. Quest Diagnostics has a 52-week low of $79.12 and a 52-week high of $112.97.
Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Tuesday, July 25th. The medical research company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.13. Quest Diagnostics had a net margin of 9.28% and a return on equity of 15.66%. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period in the previous year, the business posted $1.34 earnings per share. The business’s revenue was up 1.9% compared to the same quarter last year. Equities research analysts anticipate that Quest Diagnostics will post $5.69 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 18th. Shareholders of record on Tuesday, October 3rd will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Monday, October 2nd. Quest Diagnostics’s dividend payout ratio (DPR) is presently 36.29%.
In related news, SVP Catherine T. Doherty sold 59,762 shares of the company’s stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $107.55, for a total transaction of $6,427,403.10. Following the transaction, the senior vice president now owns 78,582 shares of the company’s stock, valued at $8,451,494.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel Stanzione sold 3,803 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $108.01, for a total transaction of $410,762.03. Following the transaction, the director now directly owns 35,359 shares in the company, valued at approximately $3,819,125.59. The disclosure for this sale can be found here. Insiders sold 221,758 shares of company stock worth $23,944,610 in the last ninety days. Insiders own 1.75% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. WFG Advisors LP lifted its stake in shares of Quest Diagnostics by 45.3% during the second quarter. WFG Advisors LP now owns 966 shares of the medical research company’s stock valued at $107,000 after buying an additional 301 shares during the period. Toronto Dominion Bank lifted its stake in shares of Quest Diagnostics by 24.7% during the second quarter. Toronto Dominion Bank now owns 46,639 shares of the medical research company’s stock valued at $5,184,000 after buying an additional 9,242 shares during the period. Dynamic Technology Lab Private Ltd lifted its stake in shares of Quest Diagnostics by 125.0% during the second quarter. Dynamic Technology Lab Private Ltd now owns 10,512 shares of the medical research company’s stock valued at $1,169,000 after buying an additional 5,840 shares during the period. WINTON GROUP Ltd lifted its stake in shares of Quest Diagnostics by 1.3% during the second quarter. WINTON GROUP Ltd now owns 38,710 shares of the medical research company’s stock valued at $4,303,000 after buying an additional 513 shares during the period. Finally, Verition Fund Management LLC purchased a new position in shares of Quest Diagnostics during the second quarter valued at approximately $658,000. 87.07% of the stock is currently owned by institutional investors and hedge funds.
About Quest Diagnostics
Quest Diagnostics Incorporated is a provider of diagnostic information services. The Company operates through two businesses: Diagnostic Information Services and Diagnostic Solutions. The Diagnostic Information Services business develops and delivers diagnostic testing information and services, providing insights that empower and enable a range of customers, including patients, clinicians, hospitals, integrated delivery networks (IDNs), health plans, employers and accountable care organizations (ACOs).
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