Equities researchers at Evercore ISI began coverage on shares of Quest Diagnostics (NYSE:DGX) in a research note issued to investors on Thursday, Marketbeat reports. The firm set an “in-line” rating and a $103.00 price target on the medical research company’s stock. Evercore ISI’s price objective would indicate a potential upside of 3.96% from the company’s previous close.
Other analysts have also issued research reports about the stock. Canaccord Genuity reissued a “buy” rating and issued a $118.00 price target on shares of Quest Diagnostics in a report on Wednesday, September 13th. Craig Hallum reaffirmed a “hold” rating and issued a $100.00 price objective (down from $110.00) on shares of Quest Diagnostics in a research note on Tuesday, October 17th. Mizuho set a $103.00 price objective on shares of Quest Diagnostics and gave the company a “buy” rating in a research note on Thursday, October 19th. SunTrust Banks set a $105.00 price objective on shares of Quest Diagnostics and gave the company a “hold” rating in a research note on Sunday, October 15th. Finally, Zacks Investment Research cut shares of Quest Diagnostics from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and seven have given a buy rating to the company’s stock. Quest Diagnostics presently has a consensus rating of “Hold” and an average target price of $106.20.
Shares of Quest Diagnostics (NYSE:DGX) traded down $0.17 during trading on Thursday, hitting $99.08. 933,400 shares of the company were exchanged, compared to its average volume of 887,767. The company has a current ratio of 1.47, a quick ratio of 1.37 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $13,550.00, a price-to-earnings ratio of 20.64, a P/E/G ratio of 2.03 and a beta of 0.60. Quest Diagnostics has a fifty-two week low of $90.10 and a fifty-two week high of $112.96.
Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Thursday, October 19th. The medical research company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.04. The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.92 billion. Quest Diagnostics had a net margin of 8.82% and a return on equity of 15.53%. Quest Diagnostics’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.37 earnings per share. equities analysts anticipate that Quest Diagnostics will post 5.65 earnings per share for the current fiscal year.
In other news, EVP J. E. Davis sold 63,880 shares of Quest Diagnostics stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $98.68, for a total transaction of $6,303,678.40. Following the transaction, the executive vice president now directly owns 101,423 shares of the company’s stock, valued at $10,008,421.64. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.75% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. WFG Advisors LP lifted its position in Quest Diagnostics by 45.3% in the 2nd quarter. WFG Advisors LP now owns 966 shares of the medical research company’s stock valued at $107,000 after acquiring an additional 301 shares in the last quarter. Sun Life Financial INC lifted its position in Quest Diagnostics by 14,142.9% in the 2nd quarter. Sun Life Financial INC now owns 997 shares of the medical research company’s stock valued at $111,000 after acquiring an additional 990 shares in the last quarter. Acrospire Investment Management LLC lifted its position in Quest Diagnostics by 300.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,600 shares of the medical research company’s stock valued at $178,000 after acquiring an additional 1,200 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in Quest Diagnostics in the 2nd quarter valued at $180,000. Finally, Parametrica Management Ltd bought a new stake in Quest Diagnostics in the 3rd quarter valued at $206,000. 88.84% of the stock is currently owned by institutional investors.
Quest Diagnostics Company Profile
Quest Diagnostics Incorporated is a provider of diagnostic information services. The Company operates through two businesses: Diagnostic Information Services and Diagnostic Solutions. The Diagnostic Information Services business develops and delivers diagnostic testing information and services, providing insights that empower and enable a range of customers, including patients, clinicians, hospitals, integrated delivery networks (IDNs), health plans, employers and accountable care organizations (ACOs).
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