Quest Diagnostics (NYSE:DGX) Rating Lowered to Hold at StockNews.com

StockNews.com lowered shares of Quest Diagnostics (NYSE:DGX) from a buy rating to a hold rating in a research report released on Wednesday morning.

Several other research analysts have also commented on the stock. Citigroup raised their price objective on shares of Quest Diagnostics from $135.00 to $145.00 and gave the company a neutral rating in a research note on Wednesday, April 24th. UBS Group raised their price target on shares of Quest Diagnostics from $139.00 to $146.00 and gave the company a neutral rating in a research report on Wednesday, April 24th. Barclays upped their price objective on Quest Diagnostics from $138.00 to $144.00 and gave the stock an equal weight rating in a research report on Thursday, April 25th. JPMorgan Chase & Co. lifted their target price on Quest Diagnostics from $152.00 to $155.00 and gave the company a neutral rating in a report on Thursday, May 30th. Finally, Truist Financial upped their price target on Quest Diagnostics from $145.00 to $150.00 and gave the stock a hold rating in a report on Wednesday, April 24th. Ten investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $146.67.

Quest Diagnostics Stock Down 0.3 %

Shares of NYSE DGX opened at $136.88 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.59. The business’s 50 day moving average is $139.08 and its two-hundred day moving average is $133.78. Quest Diagnostics has a 52-week low of $119.59 and a 52-week high of $145.62. The firm has a market cap of $15.21 billion, a price-to-earnings ratio of 18.42, a PEG ratio of 2.98 and a beta of 0.89.

Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings data on Tuesday, April 23rd. The medical research company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.18. Quest Diagnostics had a return on equity of 15.52% and a net margin of 9.11%. The firm had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter in the previous year, the business earned $2.04 EPS. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. Research analysts predict that Quest Diagnostics will post 8.79 EPS for the current year.

Quest Diagnostics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 22nd. Stockholders of record on Monday, July 8th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Monday, July 8th. This represents a $3.00 annualized dividend and a dividend yield of 2.19%. Quest Diagnostics’s dividend payout ratio is presently 40.38%.

Insider Activity at Quest Diagnostics

In related news, SVP Karthik Kuppusamy sold 1,760 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $140.00, for a total value of $246,400.00. Following the completion of the sale, the senior vice president now directly owns 13,435 shares of the company’s stock, valued at $1,880,900. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Quest Diagnostics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Altshuler Shaham Ltd purchased a new position in shares of Quest Diagnostics during the fourth quarter worth approximately $26,000. VisionPoint Advisory Group LLC grew its position in Quest Diagnostics by 100.0% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 218 shares of the medical research company’s stock worth $27,000 after purchasing an additional 109 shares during the last quarter. BKM Wealth Management LLC acquired a new position in Quest Diagnostics in the fourth quarter valued at $29,000. Spartan Planning & Wealth Management purchased a new stake in shares of Quest Diagnostics in the fourth quarter valued at about $31,000. Finally, Alaska Permanent Fund Corp boosted its stake in shares of Quest Diagnostics by 79.3% during the fourth quarter. Alaska Permanent Fund Corp now owns 242 shares of the medical research company’s stock worth $33,000 after buying an additional 107 shares during the period. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Company Profile

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.