Quest Diagnostics (DGX) Downgraded to Neutral at Goldman Sachs Group

Quest Diagnostics (NYSE:DGX) was downgraded by investment analysts at Goldman Sachs Group from a “buy” rating to a “neutral” rating in a report issued on Friday, MarketBeat reports. They presently have a $90.00 target price on the medical research company’s stock, down from their previous target price of $110.00. Goldman Sachs Group’s price target would indicate a potential upside of 1.61% from the stock’s current price.

Other analysts have also issued reports about the company. Citigroup lowered their target price on Quest Diagnostics from $112.00 to $104.00 and set a “neutral” rating for the company in a research note on Wednesday, October 24th. Argus set a $120.00 price target on Quest Diagnostics and gave the company a “buy” rating in a report on Friday, September 14th. ValuEngine cut Quest Diagnostics from a “hold” rating to a “sell” rating in a report on Friday. Credit Suisse Group raised their price target on Quest Diagnostics from $121.00 to $128.00 and gave the company an “outperform” rating in a report on Monday, September 24th. Finally, Canaccord Genuity decreased their price target on Quest Diagnostics from $118.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, October 24th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $105.67.

Shares of NYSE:DGX opened at $88.57 on Friday. Quest Diagnostics has a twelve month low of $85.56 and a twelve month high of $116.49. The firm has a market capitalization of $12.05 billion, a PE ratio of 13.99, a price-to-earnings-growth ratio of 1.61 and a beta of 0.90. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.15 and a quick ratio of 1.09.

Quest Diagnostics (NYSE:DGX) last announced its earnings results on Tuesday, October 23rd. The medical research company reported $1.68 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.68. Quest Diagnostics had a return on equity of 15.71% and a net margin of 11.30%. The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.95 billion. During the same period last year, the company posted $1.38 earnings per share. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. Equities analysts anticipate that Quest Diagnostics will post 6.45 earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of the stock. Dupont Capital Management Corp boosted its holdings in Quest Diagnostics by 64.4% in the second quarter. Dupont Capital Management Corp now owns 1,202 shares of the medical research company’s stock valued at $132,000 after acquiring an additional 471 shares during the last quarter. CIBC World Markets Inc. boosted its holdings in Quest Diagnostics by 3.7% during the third quarter. CIBC World Markets Inc. now owns 14,582 shares of the medical research company’s stock worth $1,574,000 after buying an additional 522 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in Quest Diagnostics by 1.7% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 37,739 shares of the medical research company’s stock worth $4,072,000 after buying an additional 623 shares during the last quarter. Acropolis Investment Management LLC boosted its holdings in Quest Diagnostics by 19.2% during the third quarter. Acropolis Investment Management LLC now owns 4,225 shares of the medical research company’s stock worth $456,000 after buying an additional 680 shares during the last quarter. Finally, ING Groep NV boosted its holdings in Quest Diagnostics by 4.9% during the second quarter. ING Groep NV now owns 14,542 shares of the medical research company’s stock worth $1,599,000 after buying an additional 683 shares during the last quarter. Institutional investors and hedge funds own 86.00% of the company’s stock.

Quest Diagnostics Company Profile

Quest Diagnostics Incorporated provides diagnostic testing information and services in the United States and internationally. The company's Diagnostic Information Services business segment develops and delivers diagnostic testing information and services, such as routine testing, non-routine and advanced clinical testing, gene-based and esoteric testing, anatomic pathology, and other diagnostic information services.

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Analyst Recommendations for Quest Diagnostics (NYSE:DGX)

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