Credit Suisse Group Raises Quest Diagnostics (DGX) Price Target to $128.00

Quest Diagnostics (NYSE:DGX) had its target price boosted by Credit Suisse Group from $121.00 to $128.00 in a research note issued to investors on Monday morning, The Fly reports. Credit Suisse Group currently has an outperform rating on the medical research company’s stock.

A number of other research firms also recently commented on DGX. MED downgraded shares of Quest Diagnostics from a buy rating to a hold rating in a research report on Wednesday, June 27th. Deutsche Bank downgraded shares of Quest Diagnostics from a buy rating to a hold rating and set a $108.00 target price on the stock. in a research report on Wednesday, June 27th. Barclays raised shares of Quest Diagnostics from an equal weight rating to an overweight rating and increased their target price for the company from $120.00 to $130.00 in a research report on Monday, June 25th. Evercore ISI raised shares of Quest Diagnostics from an in-line rating to an outperform rating and set a $103.00 target price on the stock in a research report on Tuesday, July 10th. Finally, Argus set a $120.00 target price on shares of Quest Diagnostics and gave the company a buy rating in a research report on Friday, September 14th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $110.65.

NYSE DGX opened at $107.25 on Monday. The company has a current ratio of 1.12, a quick ratio of 1.05 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $14.70 billion, a P/E ratio of 19.85, a P/E/G ratio of 2.04 and a beta of 0.74. Quest Diagnostics has a 12 month low of $90.10 and a 12 month high of $116.49.

Quest Diagnostics (NYSE:DGX) last posted its earnings results on Tuesday, July 24th. The medical research company reported $1.75 EPS for the quarter, missing the Zacks’ consensus estimate of $1.76 by ($0.01). The company had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.95 billion. Quest Diagnostics had a net margin of 10.56% and a return on equity of 15.45%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the business earned $1.55 earnings per share. research analysts forecast that Quest Diagnostics will post 6.58 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 22nd. Investors of record on Friday, October 5th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date is Thursday, October 4th. Quest Diagnostics’s dividend payout ratio is currently 37.04%.

In related news, SVP Everett Cunningham sold 40,328 shares of the stock in a transaction on Tuesday, July 10th. The shares were sold at an average price of $112.00, for a total transaction of $4,516,736.00. Following the completion of the sale, the senior vice president now owns 78,589 shares in the company, valued at approximately $8,801,968. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.79% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. Fiduciary Management Inc. WI boosted its stake in Quest Diagnostics by 76.5% during the 1st quarter. Fiduciary Management Inc. WI now owns 3,669,715 shares of the medical research company’s stock worth $368,072,000 after purchasing an additional 1,590,069 shares during the period. American Century Companies Inc. boosted its stake in Quest Diagnostics by 24.8% during the 2nd quarter. American Century Companies Inc. now owns 2,962,056 shares of the medical research company’s stock worth $325,648,000 after purchasing an additional 589,197 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Quest Diagnostics by 5.2% in the 2nd quarter. Victory Capital Management Inc. now owns 2,564,525 shares of the medical research company’s stock worth $281,944,000 after acquiring an additional 127,232 shares during the period. Allianz Asset Management GmbH lifted its stake in shares of Quest Diagnostics by 8.3% in the 1st quarter. Allianz Asset Management GmbH now owns 2,326,398 shares of the medical research company’s stock worth $233,338,000 after acquiring an additional 178,041 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Quest Diagnostics by 0.6% in the 2nd quarter. Northern Trust Corp now owns 2,048,599 shares of the medical research company’s stock worth $225,223,000 after acquiring an additional 11,848 shares during the period. Hedge funds and other institutional investors own 86.22% of the company’s stock.

About Quest Diagnostics

Quest Diagnostics Incorporated provides diagnostic testing information and services in the United States and internationally. The company's Diagnostic Information Services business segment develops and delivers diagnostic testing information and services, such as routine testing, non-routine and advanced clinical testing, gene-based and esoteric testing, anatomic pathology, and other diagnostic information services.

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