Quest Diagnostics (NYSE:DGX) Upgraded to Outperform by Robert W. Baird

Robert W. Baird upgraded shares of Quest Diagnostics (NYSE:DGX) from a neutral rating to an outperform rating in a report released on Wednesday, Marketbeat reports. They currently have $182.00 price target on the medical research company’s stock, up from their previous price target of $157.00.

DGX has been the topic of a number of other research reports. Barclays boosted their price objective on shares of Quest Diagnostics from $144.00 to $154.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 27th. StockNews.com raised Quest Diagnostics from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Truist Financial lifted their price objective on Quest Diagnostics from $158.00 to $165.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Evercore ISI initiated coverage on Quest Diagnostics in a research note on Wednesday, August 28th. They set an “in-line” rating and a $165.00 target price for the company. Finally, Piper Sandler lifted their price target on shares of Quest Diagnostics from $145.00 to $150.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $161.75.

Quest Diagnostics Price Performance

DGX stock opened at $157.12 on Wednesday. The firm has a market cap of $17.45 billion, a P/E ratio of 21.15, a price-to-earnings-growth ratio of 2.45 and a beta of 0.89. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.91 and a current ratio of 1.00. Quest Diagnostics has a 1 year low of $120.87 and a 1 year high of $159.94. The stock has a 50-day simple moving average of $152.88 and a 200-day simple moving average of $144.48.

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

Quest Diagnostics Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Friday, October 4th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend was Friday, October 4th. Quest Diagnostics’s dividend payout ratio is presently 40.38%.

Insiders Place Their Bets

In other Quest Diagnostics news, SVP Karthik Kuppusamy sold 1,990 shares of Quest Diagnostics stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $153.26, for a total value of $304,987.40. Following the completion of the transaction, the senior vice president now directly owns 11,459 shares in the company, valued at $1,756,206.34. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.79% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Quest Diagnostics

Several hedge funds and other institutional investors have recently modified their holdings of DGX. Rothschild Investment LLC bought a new stake in Quest Diagnostics in the 2nd quarter valued at about $26,000. Innealta Capital LLC acquired a new stake in shares of Quest Diagnostics in the second quarter valued at approximately $31,000. Larson Financial Group LLC increased its stake in shares of Quest Diagnostics by 77.5% in the second quarter. Larson Financial Group LLC now owns 229 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 100 shares during the period. Riverview Trust Co bought a new stake in shares of Quest Diagnostics during the first quarter valued at approximately $33,000. Finally, TruNorth Capital Management LLC acquired a new position in shares of Quest Diagnostics during the second quarter worth approximately $33,000. Institutional investors and hedge funds 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.