Quest Diagnostics Incorporated (NYSE:DGX) had its price objective hoisted by Canaccord Genuity from $100.00 to $105.00 in a research note released on Thursday. Canaccord Genuity currently has a buy rating on the medical research company’s stock.
DGX has been the subject of several other reports. ValuEngine raised Quest Diagnostics from a hold rating to a buy rating in a report on Friday, September 1st. Wells Fargo & Company reduced their price objective on Quest Diagnostics from $88.00 to $86.00 and set a market perform rating for the company in a report on Friday, October 20th. Zacks Investment Research lowered Quest Diagnostics from a buy rating to a hold rating in a report on Thursday, August 3rd. Goldman Sachs Group, Inc. (The) lowered Quest Diagnostics from a conviction-buy rating to a buy rating and reduced their price objective for the company from $121.00 to $113.00 in a report on Tuesday, October 10th. Finally, BidaskClub lowered Quest Diagnostics from a buy rating to a hold rating in a report on Monday, July 24th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $106.18.
Shares of Quest Diagnostics (DGX) opened at 95.68 on Thursday. Quest Diagnostics has a 12-month low of $79.12 and a 12-month high of $112.96. The company’s 50-day moving average price is $96.64 and its 200 day moving average price is $104.44. The firm has a market capitalization of $13.05 billion, a PE ratio of 19.28 and a beta of 0.66.
Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings data on Thursday, October 19th. The medical research company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.04. Quest Diagnostics had a return on equity of 15.53% and a net margin of 8.82%. The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same period in the prior year, the company earned $1.37 earnings per share. Quest Diagnostics’s revenue was up 2.4% compared to the same quarter last year. On average, equities analysts forecast that Quest Diagnostics will post $5.64 earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 18th. Investors of record on Tuesday, October 3rd were given a $0.45 dividend. The ex-dividend date of this dividend was Monday, October 2nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.88%. Quest Diagnostics’s dividend payout ratio (DPR) is presently 37.74%.
In related news, Chairman Stephen H. Rusckowski sold 2,525 shares of the stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $108.03, for a total value of $272,775.75. Following the sale, the chairman now owns 168,413 shares in the company, valued at $18,193,656.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey M. Leiden sold 296 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $106.66, for a total value of $31,571.36. Following the completion of the sale, the director now owns 6,000 shares in the company, valued at approximately $639,960. The disclosure for this sale can be found here. Insiders sold 160,692 shares of company stock worth $17,375,423 in the last quarter. 1.75% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of the stock. Schnieders Capital Management LLC increased its stake in Quest Diagnostics by 0.3% in the second quarter. Schnieders Capital Management LLC now owns 2,366 shares of the medical research company’s stock valued at $263,000 after acquiring an additional 6 shares during the last quarter. Parallel Advisors LLC increased its stake in Quest Diagnostics by 0.9% in the second quarter. Parallel Advisors LLC now owns 1,291 shares of the medical research company’s stock valued at $140,000 after acquiring an additional 12 shares during the last quarter. First American Trust FSB increased its stake in Quest Diagnostics by 0.3% in the second quarter. First American Trust FSB now owns 4,395 shares of the medical research company’s stock valued at $489,000 after acquiring an additional 14 shares during the last quarter. Hills Bank & Trust Co. increased its stake in Quest Diagnostics by 1.4% in the second quarter. Hills Bank & Trust Co. now owns 2,560 shares of the medical research company’s stock valued at $285,000 after acquiring an additional 35 shares during the last quarter. Finally, Ferguson Wellman Capital Management Inc. increased its stake in Quest Diagnostics by 0.9% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 4,300 shares of the medical research company’s stock valued at $478,000 after acquiring an additional 40 shares during the last quarter. Institutional investors own 88.64% 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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