Quest Diagnostics (NYSE:DGX) Price Target Raised to $150.00 at Truist Financial

Quest Diagnostics (NYSE:DGX) had its price target boosted by Truist Financial from $145.00 to $150.00 in a report issued on Wednesday, Benzinga reports. Truist Financial currently has a hold rating on the medical research company’s stock.

A number of other analysts have also issued reports on DGX. Barclays began coverage on Quest Diagnostics in a report on Wednesday, January 3rd. They issued an equal weight rating and a $145.00 price target for the company. SVB Leerink began coverage on Quest Diagnostics in a report on Monday, February 26th. They issued a market perform rating and a $135.00 price target for the company. TheStreet lowered Quest Diagnostics from a b- rating to a c rating in a report on Monday, February 5th. StockNews.com lowered Quest Diagnostics from a buy rating to a hold rating in a report on Wednesday, April 17th. Finally, Mizuho boosted their price target on Quest Diagnostics from $150.00 to $155.00 and gave the company a buy rating in a report on Wednesday. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $146.25.

Quest Diagnostics Trading Up 0.6 %

DGX opened at $137.55 on Wednesday. Quest Diagnostics has a 12 month low of $119.59 and a 12 month high of $148.62. The stock has a 50-day moving average of $128.69 and a 200 day moving average of $131.08. The firm has a market cap of $15.28 billion, a P/E ratio of 18.36, a P/E/G ratio of 2.81 and a beta of 0.91. The company has a current ratio of 1.31, a quick ratio of 1.20 and a debt-to-equity ratio of 0.70.

Quest Diagnostics (NYSE:DGX) last announced its earnings results on Tuesday, April 23rd. The medical research company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.18. Quest Diagnostics had a return on equity of 15.79% and a net margin of 9.23%. The business had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.29 billion. During the same quarter in the previous year, the business earned $2.04 earnings per share. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, research analysts forecast that Quest Diagnostics will post 8.75 EPS for the current year.

Quest Diagnostics Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 8th were given a dividend of $0.75 per share. The ex-dividend date was Friday, April 5th. This is an increase from Quest Diagnostics’s previous quarterly dividend of $0.71. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.18%. Quest Diagnostics’s dividend payout ratio is presently 37.92%.

Insider Transactions at Quest Diagnostics

In other news, SVP Michael E. Prevoznik sold 661 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $126.14, for a total transaction of $83,378.54. Following the transaction, the senior vice president now directly owns 40,206 shares of the company’s stock, valued at $5,071,584.84. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, SVP Michael E. Prevoznik sold 661 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $126.14, for a total value of $83,378.54. Following the transaction, the senior vice president now directly owns 40,206 shares of the company’s stock, valued at approximately $5,071,584.84. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Vicky B. Gregg sold 2,500 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $126.64, for a total value of $316,600.00. Following the completion of the transaction, the director now directly owns 16,329 shares in the company, valued at $2,067,904.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,150 shares of company stock valued at $1,913,202. Corporate insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Quest Diagnostics

Hedge funds have recently made changes to their positions in the company. State of Alaska Department of Revenue boosted its holdings in Quest Diagnostics by 4.6% in the third quarter. State of Alaska Department of Revenue now owns 28,431 shares of the medical research company’s stock valued at $3,464,000 after purchasing an additional 1,250 shares during the last quarter. Impact Partnership Wealth LLC purchased a new stake in Quest Diagnostics in the third quarter valued at $40,000. KFG Wealth Management LLC boosted its holdings in Quest Diagnostics by 6.3% in the third quarter. KFG Wealth Management LLC now owns 1,692 shares of the medical research company’s stock valued at $206,000 after purchasing an additional 100 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in Quest Diagnostics by 1.9% in the third quarter. Exchange Traded Concepts LLC now owns 4,417 shares of the medical research company’s stock valued at $538,000 after purchasing an additional 84 shares during the last quarter. Finally, Occidental Asset Management LLC boosted its holdings in Quest Diagnostics by 1.3% in the third quarter. Occidental Asset Management LLC now owns 19,057 shares of the medical research company’s stock valued at $2,322,000 after purchasing an additional 247 shares during the last quarter. 88.06% of the stock is owned by institutional investors and hedge funds.

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.