Quest Diagnostics Incorporated (NYSE:DGX) Given Average Recommendation of “Hold” by Brokerages

Quest Diagnostics Incorporated (NYSE:DGX) has been given a consensus rating of “Hold” by the thirteen ratings firms that are currently covering the company, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $154.33.

DGX has been the subject of a number of research reports. StockNews.com upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Robert W. Baird raised their price objective on shares of Quest Diagnostics from $153.00 to $154.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. increased their price target on shares of Quest Diagnostics from $152.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. Evercore ISI initiated coverage on shares of Quest Diagnostics in a research report on Wednesday, August 28th. They set an “in-line” rating and a $165.00 price target on the stock. Finally, Piper Sandler upped their price objective on shares of Quest Diagnostics from $145.00 to $150.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th.

Insider Buying and Selling at Quest Diagnostics

In other Quest Diagnostics news, SVP Mark E. Delaney sold 420 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $143.08, for a total value of $60,093.60. Following the transaction, the senior vice president now owns 5,019 shares in the company, valued at approximately $718,118.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Karthik Kuppusamy sold 1,990 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $153.26, for a total value of $304,987.40. Following the completion of the sale, the senior vice president now owns 11,459 shares of the company’s stock, valued at $1,756,206.34. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Mark E. Delaney sold 420 shares of Quest Diagnostics stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $143.08, for a total value of $60,093.60. Following the transaction, the senior vice president now owns 5,019 shares in the company, valued at approximately $718,118.52. The disclosure for this sale can be found here. Insiders own 0.79% of the company’s stock.

Institutional Trading of Quest Diagnostics

A number of hedge funds and other institutional investors have recently modified their holdings of DGX. Rothschild Investment LLC acquired a new position in shares of Quest Diagnostics during the 2nd quarter valued at about $26,000. Spartan Planning & Wealth Management acquired a new position in Quest Diagnostics in the 4th quarter valued at about $31,000. Innealta Capital LLC purchased a new stake in shares of Quest Diagnostics in the 2nd quarter valued at approximately $31,000. Larson Financial Group LLC increased its holdings in shares of Quest Diagnostics by 77.5% during the 2nd quarter. Larson Financial Group LLC now owns 229 shares of the medical research company’s stock worth $31,000 after buying an additional 100 shares during the last quarter. Finally, Riverview Trust Co purchased a new stake in shares of Quest Diagnostics during the 1st quarter valued at approximately $33,000. 88.06% of the stock is owned by institutional investors and hedge funds.

Quest Diagnostics Trading Down 0.6 %

Shares of NYSE:DGX opened at $153.08 on Friday. The firm has a market capitalization of $17.01 billion, a P/E ratio of 20.60, a P/E/G ratio of 2.80 and a beta of 0.89. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.00 and a quick ratio of 0.91. The business’s 50-day moving average is $150.88 and its 200 day moving average is $141.46. Quest Diagnostics has a 1 year low of $119.59 and a 1 year high of $159.36.

Quest Diagnostics (NYSE:DGX) last issued its earnings results on Tuesday, July 23rd. The medical research company reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.04. Quest Diagnostics had a return on equity of 15.35% and a net margin of 8.99%. The company had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.39 billion. During the same quarter last year, the business posted $2.30 EPS. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. On average, research analysts predict that Quest Diagnostics will post 8.89 earnings per share for the current fiscal year.

Quest Diagnostics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Friday, October 4th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Friday, October 4th. Quest Diagnostics’s payout ratio is 40.38%.

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.