Quest Diagnostics (NYSE:DGX) Shares Gap Down – Time to Sell?

Quest Diagnostics Incorporated (NYSE:DGX)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $172.45, but opened at $168.73. Quest Diagnostics shares last traded at $165.14, with a volume of 121,622 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Citigroup cut Quest Diagnostics from a “buy” rating to a “neutral” rating and set a $185.00 target price on the stock. in a research note on Tuesday, March 4th. Truist Financial lifted their price target on shares of Quest Diagnostics from $172.00 to $182.00 and gave the stock a “hold” rating in a report on Friday, January 31st. Mizuho upped their price target on Quest Diagnostics from $177.00 to $178.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Bank of America boosted their target price on shares of Quest Diagnostics from $179.00 to $182.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, Robert W. Baird set a $189.00 target price on shares of Quest Diagnostics in a research note on Friday, January 31st. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $178.23.

Quest Diagnostics Stock Performance

The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.02 and a current ratio of 1.10. The company has a market cap of $18.49 billion, a PE ratio of 21.62, a PEG ratio of 2.16 and a beta of 0.92. The business’s 50-day moving average is $164.35 and its 200 day moving average is $158.41.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings data on Thursday, January 30th. The medical research company reported $2.23 EPS for the quarter, topping the consensus estimate of $2.19 by $0.04. Quest Diagnostics had a return on equity of 15.07% and a net margin of 8.80%. On average, equities research analysts predict that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be given a $0.80 dividend. The ex-dividend date is Monday, April 7th. This represents a $3.20 annualized dividend and a yield of 1.92%. This is an increase from Quest Diagnostics’s previous quarterly dividend of $0.75. Quest Diagnostics’s payout ratio is presently 41.61%.

Insider Transactions at Quest Diagnostics

In other Quest Diagnostics news, EVP Catherine T. Doherty sold 535 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $169.71, for a total transaction of $90,794.85. Following the completion of the transaction, the executive vice president now owns 71,356 shares of the company’s stock, valued at $12,109,826.76. This represents a 0.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Mark E. Delaney sold 403 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $164.30, for a total value of $66,212.90. Following the completion of the sale, the senior vice president now owns 4,624 shares of the company’s stock, valued at approximately $759,723.20. This trade represents a 8.02 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,514 shares of company stock worth $1,634,445. Insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Quest Diagnostics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC boosted its holdings in Quest Diagnostics by 159.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 27,615 shares of the medical research company’s stock valued at $4,166,000 after acquiring an additional 16,958 shares in the last quarter. Siemens Fonds Invest GmbH boosted its stake in shares of Quest Diagnostics by 625.8% during the 4th quarter. Siemens Fonds Invest GmbH now owns 27,640 shares of the medical research company’s stock valued at $4,170,000 after purchasing an additional 23,832 shares in the last quarter. Menard Financial Group LLC bought a new stake in shares of Quest Diagnostics during the 4th quarter valued at about $109,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Quest Diagnostics during the fourth quarter valued at about $33,698,000. Finally, Jefferies Financial Group Inc. raised its stake in Quest Diagnostics by 17.0% in the fourth quarter. Jefferies Financial Group Inc. now owns 24,900 shares of the medical research company’s stock worth $3,756,000 after buying an additional 3,627 shares in the last quarter. 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.