Quest Diagnostics (NYSE:DGX) Reaches New 52-Week High – Should You Buy?

Quest Diagnostics Incorporated (NYSE:DGX)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $161.30 and last traded at $161.30, with a volume of 857 shares trading hands. The stock had previously closed at $159.37.

Wall Street Analyst Weigh In

DGX has been the topic of a number of recent research reports. UBS Group lifted their price target on Quest Diagnostics from $165.00 to $166.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. StockNews.com lowered shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Baird R W raised shares of Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 23rd. Evercore ISI assumed coverage on shares of Quest Diagnostics in a research note on Wednesday, August 28th. They issued an “in-line” rating and a $165.00 price objective on the stock. Finally, Mizuho raised their target price on Quest Diagnostics from $160.00 to $174.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Nine research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $164.58.

Quest Diagnostics Stock Up 1.0 %

The firm has a market cap of $18.05 billion, a price-to-earnings ratio of 21.74, a PEG ratio of 2.75 and a beta of 0.89. The firm has a 50 day moving average of $153.59 and a 200 day moving average of $146.91. The company has a quick ratio of 1.17, a current ratio of 1.25 and a debt-to-equity ratio of 0.83.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings data on Tuesday, October 22nd. The medical research company reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.04. The company had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.43 billion. Quest Diagnostics had a net margin of 8.82% and a return on equity of 15.25%. Quest Diagnostics’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.22 EPS. As a group, sell-side analysts predict that Quest Diagnostics Incorporated will post 8.9 earnings per share for the current year.

Quest Diagnostics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Tuesday, January 14th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.85%. Quest Diagnostics’s dividend payout ratio (DPR) is presently 40.32%.

Insider Activity

In related news, SVP Karthik Kuppusamy sold 1,990 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $153.26, for a total transaction of $304,987.40. Following the transaction, the senior vice president now directly owns 11,459 shares of the company’s stock, valued at approximately $1,756,206.34. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Quest Diagnostics news, SVP Karthik Kuppusamy sold 1,990 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $153.26, for a total transaction of $304,987.40. Following the completion of the sale, the senior vice president now owns 11,459 shares in the company, valued at approximately $1,756,206.34. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Michael J. Deppe sold 18,755 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $154.05, for a total transaction of $2,889,207.75. Following the transaction, the chief accounting officer now owns 34,941 shares in the company, valued at approximately $5,382,661.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,520 shares of company stock worth $3,472,728 in the last three months. Company insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Quest Diagnostics

A number of hedge funds have recently added to or reduced their stakes in DGX. Headlands Technologies LLC purchased a new position in shares of Quest Diagnostics during the first quarter valued at approximately $153,000. US Bancorp DE boosted its holdings in Quest Diagnostics by 1.3% during the 1st quarter. US Bancorp DE now owns 24,029 shares of the medical research company’s stock worth $3,198,000 after acquiring an additional 313 shares during the last quarter. Avantax Advisory Services Inc. grew its stake in shares of Quest Diagnostics by 26.3% in the 1st quarter. Avantax Advisory Services Inc. now owns 2,738 shares of the medical research company’s stock worth $364,000 after acquiring an additional 571 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in shares of Quest Diagnostics by 13.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 150,816 shares of the medical research company’s stock valued at $21,337,000 after purchasing an additional 17,568 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Quest Diagnostics by 16.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 131,329 shares of the medical research company’s stock valued at $17,481,000 after purchasing an additional 18,642 shares in the last quarter. Institutional investors and hedge funds 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.