Quest Diagnostics (NYSE:DGX) Upgraded by StockNews.com to “Buy”

StockNews.com upgraded shares of Quest Diagnostics (NYSE:DGX) from a hold rating to a buy rating in a report published on Thursday morning.

Several other analysts have also recently weighed in on the stock. Citigroup increased their price target on shares of Quest Diagnostics from $135.00 to $145.00 and gave the company a neutral rating in a research note on Wednesday. Mizuho raised their target price on Quest Diagnostics from $150.00 to $155.00 and gave the stock a buy rating in a research note on Wednesday. UBS Group lifted their target price on Quest Diagnostics from $139.00 to $146.00 and gave the company a neutral rating in a research report on Wednesday. Leerink Partnrs reiterated a market perform rating on shares of Quest Diagnostics in a report on Monday, February 26th. Finally, SVB Leerink began coverage on shares of Quest Diagnostics in a report on Monday, February 26th. They issued a market perform rating and a $135.00 price objective on the stock. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Quest Diagnostics presently has a consensus rating of Hold and a consensus target price of $146.17.

Quest Diagnostics Stock Performance

NYSE DGX opened at $134.26 on Thursday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.20 and a current ratio of 0.97. The stock’s fifty day moving average is $129.09 and its two-hundred day moving average is $131.23. The firm has a market capitalization of $14.91 billion, a P/E ratio of 18.07, a price-to-earnings-growth ratio of 2.92 and a beta of 0.91. Quest Diagnostics has a fifty-two week low of $119.59 and a fifty-two week high of $146.85.

Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings results on Tuesday, April 23rd. The medical research company reported $2.04 EPS for the quarter, topping 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 business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same quarter in the previous year, the firm earned $2.04 EPS. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, research analysts anticipate that Quest Diagnostics will post 8.78 earnings per share for the current year.

Quest Diagnostics Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 8th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.23%. The ex-dividend date was Friday, April 5th. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.71. Quest Diagnostics’s dividend payout ratio is currently 38.22%.

Insider Activity at Quest Diagnostics

In other Quest Diagnostics news, Director Vicky B. Gregg sold 2,500 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $126.64, for a total transaction of $316,600.00. Following the sale, the director now directly owns 16,329 shares in the company, valued at approximately $2,067,904.56. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Quest Diagnostics news, Director Vicky B. Gregg sold 2,500 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $126.64, for a total value of $316,600.00. Following the sale, the director now owns 16,329 shares of the company’s stock, valued at approximately $2,067,904.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael E. Prevoznik sold 5,611 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $125.88, for a total value of $706,312.68. Following the transaction, the senior vice president now directly owns 38,478 shares of the company’s stock, valued at $4,843,610.64. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,150 shares of company stock worth $1,913,202. Corporate insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Quest Diagnostics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DGX. State of Alaska Department of Revenue boosted its stake in Quest Diagnostics by 4.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 28,431 shares of the medical research company’s stock worth $3,464,000 after purchasing an additional 1,250 shares during the period. Impact Partnership Wealth LLC acquired a new stake in shares of Quest Diagnostics during the third quarter worth about $40,000. Exchange Traded Concepts LLC grew its holdings in shares of Quest Diagnostics by 1.9% during the third quarter. Exchange Traded Concepts LLC now owns 4,417 shares of the medical research company’s stock worth $538,000 after buying an additional 84 shares during the last quarter. Oak Thistle LLC increased its position in Quest Diagnostics by 20.9% in the 3rd quarter. Oak Thistle LLC now owns 4,781 shares of the medical research company’s stock valued at $583,000 after acquiring an additional 826 shares during the period. Finally, Czech National Bank raised its stake in Quest Diagnostics by 48.0% during the 3rd quarter. Czech National Bank now owns 19,617 shares of the medical research company’s stock valued at $2,391,000 after acquiring an additional 6,358 shares during the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

About Quest Diagnostics

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.