JPMorgan Chase & Co. Raises Quest Diagnostics (NYSE:DGX) Price Target to $155.00

Quest Diagnostics (NYSE:DGXFree Report) had its price objective upped by JPMorgan Chase & Co. from $152.00 to $155.00 in a research report report published on Thursday, Benzinga reports. They currently have a neutral rating on the medical research company’s stock.

Several other brokerages have also recently weighed in on DGX. Truist Financial upped their price objective on shares of Quest Diagnostics from $145.00 to $150.00 and gave the stock a hold rating in a research note on Wednesday, April 24th. Barclays upped their target price on shares of Quest Diagnostics from $138.00 to $144.00 and gave the stock an equal weight rating in a research report on Thursday, April 25th. Jefferies Financial Group upgraded shares of 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 report on Wednesday, February 7th. StockNews.com upgraded shares of Quest Diagnostics from a hold rating to a buy rating in a research report on Friday, May 24th. Finally, TheStreet lowered shares of Quest Diagnostics from a b- rating to a c rating in a research report on Monday, February 5th. Nine investment 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, the company presently has an average rating of Hold and an average target price of $146.67.

Check Out Our Latest Analysis on Quest Diagnostics

Quest Diagnostics Stock Performance

NYSE DGX opened at $141.97 on Thursday. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.59. The stock has a market cap of $15.77 billion, a P/E ratio of 19.11, a PEG ratio of 3.08 and a beta of 0.88. Quest Diagnostics has a twelve month low of $119.59 and a twelve month high of $145.62. The company’s 50-day simple moving average is $135.47 and its 200 day simple moving average is $133.26.

Quest Diagnostics (NYSE:DGXGet Free Report) last issued its quarterly earnings data on Tuesday, April 23rd. The medical research company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.18. The firm had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.29 billion. Quest Diagnostics had a net margin of 9.11% and a return on equity of 15.52%. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.04 earnings per share. As a group, research analysts forecast that Quest Diagnostics will post 8.78 earnings per share for the current fiscal year.

Quest Diagnostics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 22nd. Investors of record on Monday, July 8th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Monday, July 8th. This represents a $3.00 annualized dividend and a yield of 2.11%. Quest Diagnostics’s dividend payout ratio is currently 40.38%.

Insider Activity at Quest Diagnostics

In other Quest Diagnostics news, SVP Karthik Kuppusamy sold 1,760 shares of the stock in a transaction on Monday, April 29th. The shares were sold at an average price of $140.00, for a total value of $246,400.00. Following the sale, the senior vice president now directly owns 13,435 shares in the company, valued at $1,880,900. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.79% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Quest Diagnostics

Several hedge funds have recently bought and sold shares of the company. Clean Yield Group raised its holdings in Quest Diagnostics by 20.9% in the first quarter. Clean Yield Group now owns 19,109 shares of the medical research company’s stock worth $2,544,000 after purchasing an additional 3,308 shares during the period. Cetera Advisors LLC raised its holdings in Quest Diagnostics by 73.6% in the first quarter. Cetera Advisors LLC now owns 2,818 shares of the medical research company’s stock worth $375,000 after purchasing an additional 1,195 shares during the period. Cetera Investment Advisers raised its holdings in Quest Diagnostics by 326.0% in the first quarter. Cetera Investment Advisers now owns 15,882 shares of the medical research company’s stock worth $2,114,000 after purchasing an additional 12,154 shares during the period. Swedbank AB acquired a new stake in Quest Diagnostics in the first quarter worth $8,691,000. Finally, Wahed Invest LLC raised its holdings in Quest Diagnostics by 20.4% in the first quarter. Wahed Invest LLC now owns 2,176 shares of the medical research company’s stock worth $290,000 after purchasing an additional 369 shares during the period. 88.06% of the stock is currently owned by institutional investors and hedge funds.

About Quest Diagnostics

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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.

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