Quest Diagnostics Incorporated (NYSE:DGX) Receives $150.33 Average Price Target from Analysts

Posted by on Jun 18th, 2022

Quest Diagnostics Incorporated (NYSE:DGX – Get Rating) has been given an average recommendation of “Hold” by the thirteen analysts that are covering the stock, MarketBeat reports. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $150.33.

DGX has been the topic of several research reports. StockNews.com downgraded shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Saturday, June 11th. Wells Fargo & Company upped their price target on shares of Quest Diagnostics from $145.00 to $150.00 and gave the company an “equal weight” rating in a research note on Monday, April 25th. UBS Group increased their price objective on shares of Quest Diagnostics from $139.00 to $150.00 in a research note on Sunday, April 24th. Bank of America reduced their price objective on shares of Quest Diagnostics from $166.00 to $163.00 and set a “buy” rating on the stock in a research note on Friday, April 22nd. Finally, Citigroup downgraded shares of Quest Diagnostics from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $175.00 to $140.00 in a research note on Monday, April 4th.

In related news, CEO Stephen H. Rusckowski sold 282,408 shares of the firm’s stock in a transaction that occurred on Tuesday, May 24th. The shares were sold at an average price of $140.12, for a total value of $39,571,008.96. Following the completion of the transaction, the chief executive officer now owns 334,833 shares in the company, valued at approximately $46,916,799.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Michael E. Prevoznik sold 50,604 shares of the stock in a transaction that occurred on Tuesday, May 17th. The shares were sold at an average price of $139.97, for a total transaction of $7,083,041.88. Following the sale, the senior vice president now directly owns 39,224 shares of the company’s stock, valued at approximately $5,490,183.28. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in DGX. Neuberger Berman Group LLC grew its position in shares of Quest Diagnostics by 134.9% during the 3rd quarter. Neuberger Berman Group LLC now owns 23,330 shares of the medical research company’s stock worth $3,220,000 after buying an additional 13,396 shares during the period. Dark Forest Capital Management LP acquired a new stake in shares of Quest Diagnostics during the 3rd quarter worth approximately $71,000. Royal Bank of Canada grew its position in shares of Quest Diagnostics by 40.4% during the 3rd quarter. Royal Bank of Canada now owns 284,492 shares of the medical research company’s stock worth $41,340,000 after buying an additional 81,801 shares during the period. Beacon Pointe Advisors LLC grew its position in shares of Quest Diagnostics by 11.6% during the 3rd quarter. Beacon Pointe Advisors LLC now owns 2,745 shares of the medical research company’s stock worth $399,000 after buying an additional 286 shares during the period. Finally, LPL Financial LLC grew its position in shares of Quest Diagnostics by 15.6% during the 3rd quarter. LPL Financial LLC now owns 61,647 shares of the medical research company’s stock worth $8,958,000 after buying an additional 8,334 shares during the period. 89.89% of the stock is owned by institutional investors and hedge funds.

NYSE DGX opened at $130.64 on Friday. The company has a current ratio of 1.46, a quick ratio of 1.34 and a debt-to-equity ratio of 0.62. The firm’s fifty day moving average price is $136.46 and its two-hundred day moving average price is $142.30. Quest Diagnostics has a 1 year low of $125.33 and a 1 year high of $174.16. The firm has a market capitalization of $15.33 billion, a P/E ratio of 8.70 and a beta of 1.05.

Quest Diagnostics (NYSE:DGX – Get Rating) last posted its quarterly earnings results on Thursday, April 21st. The medical research company reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.91 by $0.31. Quest Diagnostics had a net margin of 17.61% and a return on equity of 27.08%. The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same period in the prior year, the firm posted $3.76 earnings per share. The company’s quarterly revenue was down 4.0% compared to the same quarter last year. On average, research analysts anticipate that Quest Diagnostics will post 9.32 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 20th. Stockholders of record on Wednesday, July 6th will be issued a $0.66 dividend. The ex-dividend date of this dividend is Tuesday, July 5th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 2.02%. Quest Diagnostics’s dividend payout ratio (DPR) is currently 17.58%.

Quest Diagnostics Company Profile (Get Rating)

Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic information services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.

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Analyst Recommendations for Quest Diagnostics (NYSE:DGX)

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