Quest Diagnostics (NYSE:DGX) Raised to “Buy” at Jefferies Financial Group

Quest Diagnostics (NYSE:DGXGet Free Report) was upgraded by investment analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research report issued on Wednesday, FinViz reports. The firm presently has a $155.00 target price on the medical research company’s stock, up from their prior target price of $140.00. Jefferies Financial Group’s price objective points to a potential upside of 22.76% from the stock’s current price.

A number of other research firms have also recently commented on DGX. TheStreet cut shares of Quest Diagnostics from a “b-” rating to a “c” rating in a report on Monday. Evercore ISI lowered their target price on shares of Quest Diagnostics from $136.00 to $130.00 in a report on Wednesday, October 11th. JPMorgan Chase & Co. boosted their target price on shares of Quest Diagnostics from $148.00 to $149.00 and gave the company a “neutral” rating in a report on Friday, November 17th. StockNews.com cut shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Thursday, February 1st. Finally, UBS Group boosted their target price on shares of Quest Diagnostics from $135.00 to $137.00 and gave the company a “neutral” rating in a report on Thursday, December 7th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Quest Diagnostics currently has an average rating of “Hold” and an average price target of $146.91.

Check Out Our Latest Research Report on DGX

Quest Diagnostics Price Performance

Shares of NYSE DGX opened at $126.26 on Wednesday. Quest Diagnostics has a twelve month low of $119.59 and a twelve month high of $148.91. The stock’s 50 day moving average price is $135.05 and its 200-day moving average price is $131.89. The company has a market capitalization of $14.20 billion, a PE ratio of 16.86, a PEG ratio of 2.66 and a beta of 0.92. The company has a quick ratio of 1.20, a current ratio of 1.31 and a debt-to-equity ratio of 0.70.

Quest Diagnostics (NYSE:DGXGet Free Report) last posted its quarterly earnings results on Thursday, February 1st. The medical research company reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.11 by $0.04. The company had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.25 billion. Quest Diagnostics had a net margin of 9.23% and a return on equity of 15.79%. Quest Diagnostics’s revenue was down 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.98 EPS. On average, equities analysts anticipate that Quest Diagnostics will post 8.79 EPS for the current year.

Hedge Funds Weigh In On Quest Diagnostics

Several hedge funds and other institutional investors have recently modified their holdings of DGX. Yousif Capital Management LLC increased its stake in shares of Quest Diagnostics by 5.3% during the second quarter. Yousif Capital Management LLC now owns 26,926 shares of the medical research company’s stock valued at $3,785,000 after purchasing an additional 1,359 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Quest Diagnostics during the third quarter valued at approximately $493,000. LPL Financial LLC increased its stake in shares of Quest Diagnostics by 4.4% during the second quarter. LPL Financial LLC now owns 50,252 shares of the medical research company’s stock valued at $7,063,000 after purchasing an additional 2,103 shares in the last quarter. Carson Advisory Inc. bought a new position in shares of Quest Diagnostics during the second quarter valued at approximately $185,000. Finally, Massmutual Trust Co. FSB ADV increased its stake in shares of Quest Diagnostics by 1.3% during the third quarter. Massmutual Trust Co. FSB ADV now owns 16,439 shares of the medical research company’s stock valued at $2,003,000 after purchasing an additional 218 shares in the last quarter. 87.76% of the stock is owned by institutional investors.

Quest Diagnostics Company Profile

(Get Free Report)

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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