Quest Diagnostics (NYSE:DGX) Price Target Raised to $150.00 at Truist Financial

Quest Diagnostics (NYSE:DGX) had its price objective boosted by Truist Financial from $145.00 to $150.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Truist Financial currently has a hold rating on the medical research company’s stock.

A number of other analysts have also issued reports on the company. SVB Leerink began coverage on Quest Diagnostics in a research note on Monday, February 26th. They set a market perform rating and a $135.00 price objective on the stock. Barclays began coverage on Quest Diagnostics in a research note on Wednesday, January 3rd. They set an equal weight rating and a $145.00 price objective on the stock. StockNews.com lowered Quest Diagnostics from a buy rating to a hold rating in a research note on Wednesday, April 17th. Mizuho upped their target price on Quest Diagnostics from $150.00 to $155.00 and gave the stock a buy rating in a research note on Wednesday. Finally, Jefferies Financial Group upgraded Quest Diagnostics from a hold rating to a buy rating and upped their target price for the stock from $140.00 to $155.00 in a research note on Wednesday, February 7th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Quest Diagnostics has a consensus rating of Hold and an average target price of $146.25.

Quest Diagnostics Stock Performance

NYSE:DGX opened at $137.55 on Wednesday. The company has a market capitalization of $15.28 billion, a P/E ratio of 18.36, a P/E/G ratio of 2.81 and a beta of 0.91. Quest Diagnostics has a 1 year low of $119.59 and a 1 year high of $148.62. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.31 and a quick ratio of 1.20. The business has a fifty day simple moving average of $128.69 and a two-hundred day simple moving average of $131.08.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings data on Tuesday, April 23rd. The medical research company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.18. Quest Diagnostics had a return on equity of 15.79% and a net margin of 9.23%. The company had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same period in the previous year, the company posted $2.04 EPS. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, analysts expect that Quest Diagnostics will post 8.75 earnings per share for the current year.

Quest Diagnostics Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 8th were issued a $0.75 dividend. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.71. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend was Friday, April 5th. Quest Diagnostics’s dividend payout ratio is presently 37.92%.

Insider Activity at Quest Diagnostics

In related news, SVP Michael E. Prevoznik sold 661 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $126.14, for a total transaction of $83,378.54. Following the completion of the sale, the senior vice president now directly owns 40,206 shares in the company, valued at approximately $5,071,584.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Vicky B. Gregg sold 2,500 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $126.64, for a total transaction of $316,600.00. Following the completion of the sale, the director now directly owns 16,329 shares in the company, valued at approximately $2,067,904.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michael E. Prevoznik sold 661 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $126.14, for a total value of $83,378.54. Following the transaction, the senior vice president now directly owns 40,206 shares of the company’s stock, valued at approximately $5,071,584.84. The disclosure for this sale can be found here. Insiders sold 15,150 shares of company stock worth $1,913,202 in the last ninety days. 0.79% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue raised its position in shares of Quest Diagnostics by 4.6% in the 3rd quarter. State of Alaska Department of Revenue now owns 28,431 shares of the medical research company’s stock worth $3,464,000 after acquiring an additional 1,250 shares in the last quarter. Impact Partnership Wealth LLC bought a new position in shares of Quest Diagnostics in the 3rd quarter worth approximately $40,000. KFG Wealth Management LLC raised its position in shares of Quest Diagnostics by 6.3% in the 3rd quarter. KFG Wealth Management LLC now owns 1,692 shares of the medical research company’s stock worth $206,000 after acquiring an additional 100 shares in the last quarter. Exchange Traded Concepts LLC raised its position in shares of Quest Diagnostics by 1.9% in the 3rd quarter. Exchange Traded Concepts LLC now owns 4,417 shares of the medical research company’s stock worth $538,000 after acquiring an additional 84 shares in the last quarter. Finally, Occidental Asset Management LLC raised its position in shares of Quest Diagnostics by 1.3% in the 3rd quarter. Occidental Asset Management LLC now owns 19,057 shares of the medical research company’s stock worth $2,322,000 after acquiring an additional 247 shares in the last quarter. Institutional investors own 88.06% of the company’s stock.

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.