Quest Diagnostics (NYSE:DGX) Price Target Raised to $149.00

Quest Diagnostics (NYSE:DGX) had its price objective upped by JPMorgan Chase & Co. from $148.00 to $149.00 in a research note published on Friday morning, Benzinga reports. They currently have a neutral rating on the medical research company’s stock.

Several other brokerages have also commented on DGX. Citigroup cut their price target on Quest Diagnostics from $142.00 to $130.00 and set a neutral rating on the stock in a research note on Wednesday, October 25th. TheStreet lowered Quest Diagnostics from a b- rating to a c rating in a research note on Tuesday, October 24th. StockNews.com upgraded Quest Diagnostics from a hold rating to a buy rating in a research note on Wednesday, November 15th. Evercore ISI dropped their price target on Quest Diagnostics from $136.00 to $130.00 in a research note on Wednesday, October 11th. Finally, Piper Sandler boosted their price target on Quest Diagnostics from $130.00 to $140.00 and gave the stock a neutral rating in a research note on Monday, November 6th. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Quest Diagnostics has a consensus rating of Hold and an average target price of $146.09.

Quest Diagnostics Stock Performance

NYSE DGX opened at $134.85 on Friday. The company has a market cap of $15.16 billion, a P/E ratio of 20.25 and a beta of 0.92. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.12. The business’s 50 day moving average price is $126.98 and its 200-day moving average price is $132.47. Quest Diagnostics has a fifty-two week low of $119.59 and a fifty-two week high of $158.34.

Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings data on Tuesday, October 24th. The medical research company reported $2.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.19 by $0.03. Quest Diagnostics had a return on equity of 15.80% and a net margin of 8.21%. The company had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the previous year, the business earned $2.36 EPS. Quest Diagnostics’s revenue was down 7.7% compared to the same quarter last year. Sell-side analysts predict that Quest Diagnostics will post 8.71 earnings per share for the current year.

Quest Diagnostics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Wednesday, January 17th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Tuesday, January 16th. Quest Diagnostics’s payout ratio is presently 42.64%.

Institutional Trading of Quest Diagnostics

Institutional investors and hedge funds have recently made changes to their positions in the business. Park Place Capital Corp increased its position in shares of Quest Diagnostics by 73.4% in the second quarter. Park Place Capital Corp now owns 189 shares of the medical research company’s stock valued at $27,000 after buying an additional 80 shares in the last quarter. Pacifica Partners Inc. purchased a new stake in shares of Quest Diagnostics during the third quarter worth approximately $25,000. Chilton Capital Management LLC purchased a new stake in shares of Quest Diagnostics during the first quarter worth approximately $28,000. NBC Securities Inc. purchased a new stake in Quest Diagnostics in the 3rd quarter valued at $25,000. Finally, Alaska Permanent Fund Corp purchased a new stake in Quest Diagnostics in the 2nd quarter valued at $37,000. 87.76% of the stock is currently owned by hedge funds and other institutional investors.

Quest Diagnostics Company Profile

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.