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

StockNews.com downgraded shares of Quest Diagnostics (NYSE:DGX) from a buy rating to a hold rating in a research note issued to investors on Friday.

Other analysts also recently issued reports about the stock. Mizuho boosted their target price on shares of Quest Diagnostics from $160.00 to $174.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Piper Sandler raised their price objective on Quest Diagnostics from $150.00 to $165.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Truist Financial boosted their target price on Quest Diagnostics from $158.00 to $165.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. Evercore ISI began coverage on Quest Diagnostics in a research report on Wednesday, August 28th. They issued an “in-line” rating and a $165.00 price target for the company. Finally, Baird R W raised Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 23rd. Nine investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Quest Diagnostics has a consensus rating of “Hold” and a consensus price target of $164.58.

Quest Diagnostics Stock Performance

Shares of DGX traded up $3.17 during trading hours on Friday, reaching $159.37. 944,008 shares of the company’s stock traded hands, compared to its average volume of 848,323. Quest Diagnostics has a twelve month low of $123.04 and a twelve month high of $160.95. The business’s fifty day simple moving average is $153.52 and its two-hundred day simple moving average is $146.60. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.25 and a quick ratio of 1.17. The firm has a market capitalization of $17.79 billion, a price-to-earnings ratio of 21.42, a P/E/G ratio of 2.68 and a beta of 0.89.

Quest Diagnostics (NYSE:DGX) last released its earnings results on Tuesday, October 22nd. The medical research company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.04. Quest Diagnostics had a return on equity of 15.25% and a net margin of 8.82%. The firm had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the prior year, the firm posted $2.22 earnings per share. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. Analysts predict that Quest Diagnostics will post 8.9 earnings per share for the current year.

Quest Diagnostics Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Friday, October 4th were issued a dividend of $0.75 per share. The ex-dividend date was Friday, October 4th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.88%. Quest Diagnostics’s payout ratio is 40.32%.

Insider Activity at Quest Diagnostics

In other Quest Diagnostics news, CAO Michael J. Deppe sold 18,755 shares of Quest Diagnostics stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $154.05, for a total value of $2,889,207.75. Following the sale, the chief accounting officer now owns 34,941 shares of the company’s stock, valued at $5,382,661.05. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Quest Diagnostics news, CAO Michael J. Deppe sold 18,755 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $154.05, for a total transaction of $2,889,207.75. Following the sale, the chief accounting officer now directly owns 34,941 shares of the company’s stock, valued at $5,382,661.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Karthik Kuppusamy sold 1,990 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $153.26, for a total value of $304,987.40. Following the sale, the senior vice president now owns 11,459 shares in the company, valued at $1,756,206.34. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,520 shares of company stock valued at $3,472,728. 0.79% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in DGX. Landscape Capital Management L.L.C. acquired a new position in shares of Quest Diagnostics in the third quarter valued at approximately $1,363,000. Hilton Capital Management LLC bought a new stake in Quest Diagnostics in the 3rd quarter valued at $8,842,000. PNC Financial Services Group Inc. grew its holdings in Quest Diagnostics by 4.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 36,441 shares of the medical research company’s stock valued at $5,657,000 after buying an additional 1,509 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Quest Diagnostics during the 3rd quarter worth $1,079,000. Finally, Pathstone Holdings LLC lifted its holdings in shares of Quest Diagnostics by 4.5% during the third quarter. Pathstone Holdings LLC now owns 42,641 shares of the medical research company’s stock worth $6,620,000 after buying an additional 1,820 shares in the last quarter. 88.06% of the stock is currently owned by institutional investors.

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.