Quest Diagnostics (DGX) Price Target Lowered to $117.00 at Barclays

Quest Diagnostics (NYSE:DGX) had its price target reduced by Barclays from $125.00 to $117.00 in a research report released on Friday, The Fly reports. Barclays currently has an overweight rating on the medical research company’s stock.

Other analysts also recently issued reports about the stock. Bank of America started coverage on shares of Quest Diagnostics in a report on Friday, October 19th. They issued a buy rating on the stock. Argus set a $106.00 price objective on shares of Quest Diagnostics and gave the company a buy rating in a report on Wednesday, October 24th. Canaccord Genuity lowered their price objective on shares of Quest Diagnostics from $118.00 to $105.00 and set a buy rating on the stock in a report on Wednesday, October 24th. Mizuho set a $108.00 price objective on shares of Quest Diagnostics and gave the company a buy rating in a report on Tuesday, November 20th. Finally, Craig Hallum reiterated a hold rating and issued a $94.00 price objective on shares of Quest Diagnostics in a report on Friday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $106.87.

NYSE DGX opened at $88.57 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.09 and a current ratio of 1.15. Quest Diagnostics has a 12-month low of $85.56 and a 12-month high of $116.49. The company has a market capitalization of $12.05 billion, a PE ratio of 13.99, a price-to-earnings-growth ratio of 1.62 and a beta of 0.90.

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

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 30th. Stockholders of record on Tuesday, January 15th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend is Monday, January 14th. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.50. Quest Diagnostics’s payout ratio is presently 37.04%.

Institutional investors have recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Quest Diagnostics by 8,866.7% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,076 shares of the medical research company’s stock valued at $118,000 after acquiring an additional 1,064 shares during the period. Fort L.P. bought a new stake in shares of Quest Diagnostics in the second quarter valued at about $121,000. Capital Advisors Ltd. LLC bought a new stake in shares of Quest Diagnostics in the third quarter valued at about $123,000. Belpointe Asset Management LLC bought a new stake in shares of Quest Diagnostics in the third quarter valued at about $125,000. Finally, Flagship Harbor Advisors LLC bought a new stake in shares of Quest Diagnostics in the second quarter valued at about $126,000. 86.26% of the stock is owned by institutional investors.

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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