Quest Diagnostics (NYSE:DGX) PT Raised to $185.00 at Citigroup

Quest Diagnostics (NYSE:DGX) had its target price boosted by investment analysts at Citigroup from $165.00 to $185.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the medical research company’s stock. Citigroup’s target price suggests a potential upside of 17.48% from the company’s previous close.

Several other research analysts also recently commented on DGX. Barclays raised their price target on shares of Quest Diagnostics from $144.00 to $154.00 and gave the company an “equal weight” rating in a report on Tuesday, August 27th. Evercore ISI assumed coverage on shares of Quest Diagnostics in a report on Wednesday, August 28th. They set an “in-line” rating and a $165.00 price objective for the company. StockNews.com raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Piper Sandler lifted their price objective on shares of Quest Diagnostics from $145.00 to $150.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Finally, Truist Financial lifted their price objective on shares of Quest Diagnostics from $158.00 to $165.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $160.08.

Quest Diagnostics Price Performance

Shares of NYSE DGX opened at $157.47 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.91 and a current ratio of 1.00. The stock has a market cap of $17.49 billion, a price-to-earnings ratio of 21.19, a PEG ratio of 2.45 and a beta of 0.89. Quest Diagnostics has a fifty-two week low of $120.87 and a fifty-two week high of $159.36. The firm’s 50-day simple moving average is $152.74 and its 200 day simple moving average is $144.39.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings data on Tuesday, October 22nd. The medical research company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.26 by $0.04. The company had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.43 billion. Quest Diagnostics had a net margin of 8.99% and a return on equity of 15.35%. Quest Diagnostics’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period last year, the firm earned $2.22 EPS. As a group, research analysts anticipate that Quest Diagnostics will post 8.89 earnings per share for the current fiscal year.

Insider Buying and Selling at Quest Diagnostics

In other Quest Diagnostics news, SVP Karthik Kuppusamy sold 1,990 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $153.26, for a total value of $304,987.40. Following the transaction, the senior vice president now owns 11,459 shares in the company, valued at approximately $1,756,206.34. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Quest Diagnostics

A number of hedge funds have recently modified their holdings of DGX. Van Lanschot Kempen Investment Management N.V. purchased a new position in shares of Quest Diagnostics in the second quarter valued at about $48,783,000. M&G Plc purchased a new position in shares of Quest Diagnostics during the first quarter valued at about $46,432,000. Vanguard Group Inc. increased its position in shares of Quest Diagnostics by 2.5% during the first quarter. Vanguard Group Inc. now owns 13,921,955 shares of the medical research company’s stock valued at $1,853,151,000 after buying an additional 345,754 shares during the period. Wedge Capital Management L L P NC lifted its stake in shares of Quest Diagnostics by 601.7% in the second quarter. Wedge Capital Management L L P NC now owns 277,561 shares of the medical research company’s stock worth $37,993,000 after buying an additional 238,007 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in shares of Quest Diagnostics by 222.0% in the second quarter. Point72 Asset Management L.P. now owns 299,740 shares of the medical research company’s stock worth $41,028,000 after buying an additional 206,640 shares in the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

About Quest Diagnostics

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.