Shares of Quest Diagnostics Incorporated (NYSE:DGX) have received a consensus recommendation of “Buy” from the eighteen research firms that are presently covering the company, Marketbeat reports. Nine research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $110.03.
A number of brokerages have recently issued reports on DGX. Zacks Investment Research downgraded Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Bank of America Corporation raised Quest Diagnostics from a “neutral” rating to a “buy” rating and increased their target price for the stock from $111.00 to $118.00 in a research note on Tuesday, July 25th. Piper Jaffray Companies increased their target price on Quest Diagnostics to $107.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 25th. BidaskClub downgraded Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Finally, Barclays PLC reissued a “hold” rating and set a $110.00 target price on shares of Quest Diagnostics in a research note on Wednesday, July 19th.
Quest Diagnostics (NYSE:DGX) opened at 106.21 on Friday. The company’s 50-day moving average price is $109.15 and its 200 day moving average price is $102.52. The stock has a market capitalization of $14.49 billion, a PE ratio of 21.40 and a beta of 0.69. Quest Diagnostics has a 12 month low of $79.12 and a 12 month high of $112.97.
Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings data on Tuesday, July 25th. The medical research company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.13. The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Quest Diagnostics had a return on equity of 15.66% and a net margin of 9.28%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period last year, the firm earned $1.34 EPS. On average, analysts forecast that Quest Diagnostics will post $5.69 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, July 24th. Shareholders of record on Monday, July 10th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend was Thursday, July 6th. Quest Diagnostics’s dividend payout ratio (DPR) is presently 36.29%.
In other news, SVP Catherine T. Doherty sold 59,762 shares of the firm’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $107.55, for a total transaction of $6,427,403.10. Following the sale, the senior vice president now owns 78,582 shares in the company, valued at $8,451,494.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey M. Leiden sold 1,304 shares of the firm’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $108.73, for a total value of $141,783.92. Following the sale, the director now owns 6,296 shares in the company, valued at approximately $684,564.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 61,362 shares of company stock worth $6,600,758. 1.50% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the company. Meeder Asset Management Inc. boosted its stake in Quest Diagnostics by 55.9% in the second quarter. Meeder Asset Management Inc. now owns 34,817 shares of the medical research company’s stock valued at $3,870,000 after buying an additional 12,478 shares during the period. Capstone Asset Management Co. boosted its stake in Quest Diagnostics by 9.9% in the first quarter. Capstone Asset Management Co. now owns 118,913 shares of the medical research company’s stock valued at $11,676,000 after buying an additional 10,756 shares during the period. Bank of America Corp DE boosted its stake in Quest Diagnostics by 0.6% in the first quarter. Bank of America Corp DE now owns 1,887,303 shares of the medical research company’s stock valued at $185,315,000 after buying an additional 11,399 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Quest Diagnostics during the first quarter valued at about $458,000. Finally, Chicago Equity Partners LLC boosted its stake in Quest Diagnostics by 9.3% in the first quarter. Chicago Equity Partners LLC now owns 2,700 shares of the medical research company’s stock valued at $265,000 after buying an additional 230 shares during the period. Institutional investors and hedge funds own 90.97% of the company’s stock.
COPYRIGHT VIOLATION WARNING: “Quest Diagnostics Incorporated (NYSE:DGX) Receives Consensus Rating of “Buy” from Brokerages” was originally reported by BBNS and is owned by of BBNS. If you are accessing this story on another domain, it was copied illegally and republished in violation of international trademark and copyright legislation. The legal version of this story can be viewed at https://baseballnewssource.com/markets/quest-diagnostics-incorporated-nysedgx-receives-average-rating-of-buy-from-analysts-updated-updated-updated/1198013.html.
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).
Receive News & Ratings for Quest Diagnostics Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quest Diagnostics Incorporated and related companies with our FREE daily email newsletter.