Quest Diagnostics (NYSE:DGX) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Quest Diagnostics (NYSE:DGX) from a buy rating to a hold rating in a research note issued to investors on Monday.

Other research analysts have also issued reports about the company. Evercore ISI began coverage on Quest Diagnostics in a report on Wednesday, August 28th. They set an “in-line” rating and a $165.00 target price on the stock. Barclays lifted their price objective on shares of Quest Diagnostics from $154.00 to $168.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. Citigroup increased their target price on Quest Diagnostics from $165.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Robert W. Baird raised shares of Quest Diagnostics from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $157.00 to $182.00 in a report on Wednesday, October 23rd. Finally, Piper Sandler increased their price target on shares of Quest Diagnostics from $150.00 to $165.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. Nine analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Quest Diagnostics currently has an average rating of “Hold” and a consensus price target of $164.58.

Quest Diagnostics Stock Performance

DGX stock opened at $162.11 on Monday. The company has a market capitalization of $18.09 billion, a P/E ratio of 21.79, a PEG ratio of 2.77 and a beta of 0.89. The company has a quick ratio of 1.17, a current ratio of 1.25 and a debt-to-equity ratio of 0.83. The company has a 50-day simple moving average of $153.99 and a 200 day simple moving average of $147.54. Quest Diagnostics has a fifty-two week low of $123.04 and a fifty-two week high of $162.72.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Tuesday, October 22nd. The medical research company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.04. Quest Diagnostics had a net margin of 8.82% and a return on equity of 15.25%. The company had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period in the prior year, the business posted $2.22 EPS. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. Sell-side analysts predict that Quest Diagnostics will post 8.9 earnings per share for the current fiscal year.

Quest Diagnostics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Tuesday, January 14th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, January 14th. This represents a $3.00 annualized dividend and a dividend yield of 1.85%. Quest Diagnostics’s dividend payout ratio is currently 40.32%.

Insider Activity at Quest Diagnostics

In other Quest Diagnostics news, CAO Michael J. Deppe sold 18,755 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $154.05, for a total value of $2,889,207.75. Following the transaction, the chief accounting officer now directly owns 34,941 shares of the company’s stock, valued at $5,382,661.05. This represents a 34.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Karthik Kuppusamy sold 1,775 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $156.92, for a total value of $278,533.00. Following the sale, the senior vice president now owns 9,734 shares of the company’s stock, valued at approximately $1,527,459.28. This represents a 15.42 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,520 shares of company stock valued at $3,472,728. 0.79% of the stock is owned by insiders.

Institutional Investors Weigh In On Quest Diagnostics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Rothschild Investment LLC acquired a new stake in Quest Diagnostics in the 2nd quarter worth about $26,000. Innealta Capital LLC acquired a new stake in Quest Diagnostics during the second quarter worth approximately $31,000. Larson Financial Group LLC increased its stake in Quest Diagnostics by 77.5% during the 2nd quarter. Larson Financial Group LLC now owns 229 shares of the medical research company’s stock worth $31,000 after acquiring an additional 100 shares during the period. TruNorth Capital Management LLC acquired a new position in Quest Diagnostics in the 2nd quarter valued at $33,000. Finally, EdgeRock Capital LLC acquired a new stake in shares of Quest Diagnostics during the 2nd quarter worth $35,000. Institutional investors and hedge funds 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.