Analysts Set Quest Diagnostics Incorporated (NYSE:DGX) Price Target at $144.18

Quest Diagnostics Incorporated (NYSE:DGX) has been assigned a consensus rating of “Hold” from the twelve ratings firms that are covering the company, Marketbeat.com reports. Nine research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $146.17.

A number of analysts recently commented on DGX shares. UBS Group upped their price objective on Quest Diagnostics from $139.00 to $146.00 and gave the company a “neutral” rating in a research report on Wednesday. Jefferies Financial Group upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating and increased their price objective for the stock from $140.00 to $155.00 in a research note on Wednesday, February 7th. Truist Financial raised their price objective on shares of Quest Diagnostics from $145.00 to $150.00 and gave the stock a “hold” rating in a report on Wednesday. SVB Leerink started coverage on shares of Quest Diagnostics in a report on Monday, February 26th. They set a “market perform” rating and a $135.00 target price for the company. Finally, Leerink Partnrs reiterated a “market perform” rating on shares of Quest Diagnostics in a research note on Monday, February 26th.

Insider Buying and Selling

In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 5,611 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $125.88, for a total transaction of $706,312.68. Following the sale, the senior vice president now directly owns 38,478 shares of the company’s stock, valued at $4,843,610.64. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Vicky B. Gregg sold 2,500 shares of the business’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 transaction, the director now owns 16,329 shares of the company’s stock, valued at $2,067,904.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael E. Prevoznik sold 5,611 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $125.88, for a total transaction of $706,312.68. Following the transaction, the senior vice president now directly owns 38,478 shares of the company’s stock, valued at $4,843,610.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,150 shares of company stock valued at $1,913,202. Company insiders own 0.79% of the company’s stock.

Institutional Trading of Quest Diagnostics

Hedge funds have recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of Quest Diagnostics in the fourth quarter worth about $140,472,000. Nuance Investments LLC bought a new stake in Quest Diagnostics in the 4th quarter worth approximately $83,070,000. JPMorgan Chase & Co. raised its holdings in shares of Quest Diagnostics by 36.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,001,347 shares of the medical research company’s stock worth $243,884,000 after acquiring an additional 538,377 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Quest Diagnostics by 12.3% during the 3rd quarter. American Century Companies Inc. now owns 3,554,517 shares of the medical research company’s stock worth $433,153,000 after acquiring an additional 388,162 shares in the last quarter. Finally, Pathstone Holdings LLC bought a new position in shares of Quest Diagnostics during the 4th quarter valued at approximately $46,342,000. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Stock Performance

Shares of NYSE DGX opened at $135.47 on Tuesday. The firm’s 50-day moving average price is $128.89 and its 200-day moving average price is $131.11. Quest Diagnostics has a 52-week low of $119.59 and a 52-week high of $147.96. The company has a market cap of $15.04 billion, a PE ratio of 18.09, a PEG ratio of 2.95 and a beta of 0.91. The company has a quick ratio of 1.20, a current ratio of 0.97 and a debt-to-equity ratio of 0.59.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings data on Tuesday, April 23rd. The medical research company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.86 by $0.18. Quest Diagnostics had a net margin of 9.11% and a return on equity of 15.52%. The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter in the prior year, the firm earned $2.04 earnings per share. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, analysts anticipate that Quest Diagnostics will post 8.75 EPS for the current year.

Quest Diagnostics Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were paid a dividend of $0.75 per share. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.71. The ex-dividend date was Friday, April 5th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.21%. Quest Diagnostics’s payout ratio is 37.92%.

About Quest Diagnostics

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.