Mizuho reissued their buy rating on shares of Quest Diagnostics Inc (NYSE:DGX) in a research note published on Friday, April 14th. They currently have a $90.00 target price on the medical research company’s stock, down from their previous target price of $103.00.
A number of other analysts have also issued reports on the company. Goldman Sachs Group Inc upgraded Quest Diagnostics from a buy rating to a conviction-buy rating and set a $113.00 price target for the company in a report on Tuesday, March 14th. Zacks Investment Research upgraded Quest Diagnostics from a hold rating to a buy rating and set a $110.00 target price for the company in a report on Wednesday, March 29th. Jefferies Group LLC restated a hold rating and set a $96.00 target price on shares of Quest Diagnostics in a report on Thursday, March 16th. Bank of America Corp upgraded Quest Diagnostics from an underperform rating to a neutral rating and upped their target price for the stock from $85.00 to $103.00 in a report on Thursday, March 16th. Finally, Deutsche Bank AG reiterated a buy rating and set a $108.00 price objective on shares of Quest Diagnostics in a report on Wednesday, January 18th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $106.58.
Quest Diagnostics (NYSE:DGX) traded up 0.21% during midday trading on Friday, hitting $105.87. The stock had a trading volume of 397,681 shares. The company has a market cap of $14.49 billion, a P/E ratio of 21.31 and a beta of 0.68. Quest Diagnostics has a 12 month low of $75.20 and a 12 month high of $108.21. The firm’s 50-day moving average price is $102.86 and its 200 day moving average price is $94.78.
Quest Diagnostics (NYSE:DGX) last released its earnings results on Thursday, April 20th. The medical research company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.15. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Quest Diagnostics had a return on equity of 14.61% and a net margin of 8.56%. The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.12 earnings per share. On average, analysts expect that Quest Diagnostics will post $5.56 earnings per share for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Monday, July 24th. Stockholders of record on Monday, July 10th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, July 6th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.70%. Quest Diagnostics’s dividend payout ratio is currently 40.00%.
In related news, SVP Michael E. Prevoznik sold 13,987 shares of Quest Diagnostics stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $100.00, for a total value of $1,398,700.00. Following the completion of the sale, the senior vice president now owns 54,309 shares in the company, valued at approximately $5,430,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Catherine T. Doherty sold 7,162 shares of Quest Diagnostics stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $98.28, for a total transaction of $703,881.36. Following the completion of the sale, the senior vice president now owns 87,809 shares of the company’s stock, valued at approximately $8,629,868.52. The disclosure for this sale can be found here. Insiders have sold a total of 57,213 shares of company stock valued at $5,732,460 in the last 90 days. Insiders own 1.50% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC bought a new stake in Quest Diagnostics during the fourth quarter valued at $101,000. Itau Unibanco Holding S.A. acquired a new position in Quest Diagnostics during the third quarter valued at approximately $110,000. YorkBridge Wealth Partners LLC increased its position in Quest Diagnostics by 1.5% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,188 shares of the medical research company’s stock valued at $127,000 after buying an additional 18 shares during the period. TLP Group LLC acquired a new position in Quest Diagnostics during the third quarter valued at approximately $130,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in Quest Diagnostics during the fourth quarter valued at approximately $145,000. Hedge funds and other institutional investors own 87.71% of the company’s stock.
About Quest Diagnostics
Quest Diagnostics Incorporated is a provider of diagnostic information services. The Company operates through two businesses: Diagnostic Information Services and Diagnostic Solutions. The Diagnostic Information Services business develops and delivers diagnostic testing information and services, providing insights that empower and enable a range of customers, including patients, clinicians, hospitals, integrated delivery networks (IDNs), health plans, employers and accountable care organizations (ACOs).
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