Quest Diagnostics (NYSE:DGX) Price Target Raised to $191.00 at Robert W. Baird

Quest Diagnostics (NYSE:DGX) had its target price hoisted by Robert W. Baird from $190.00 to $191.00 in a report published on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the medical research company’s stock.

Other equities research analysts have also issued research reports about the company. Morgan Stanley upgraded Quest Diagnostics from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $145.00 to $172.00 in a research note on Tuesday, December 17th. Mizuho increased their price target on Quest Diagnostics from $177.00 to $178.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Barclays increased their price target on Quest Diagnostics from $168.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. UBS Group raised their price objective on Quest Diagnostics from $166.00 to $170.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Finally, Truist Financial raised their price objective on Quest Diagnostics from $172.00 to $182.00 and gave the company a “hold” rating in a research report on Friday, January 31st. Eight analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $178.38.

Quest Diagnostics Trading Down 1.0 %

NYSE:DGX opened at $166.25 on Thursday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.10 and a quick ratio of 1.02. The firm has a market capitalization of $18.45 billion, a price-to-earnings ratio of 21.62, a price-to-earnings-growth ratio of 2.16 and a beta of 0.92. Quest Diagnostics has a one year low of $125.42 and a one year high of $178.87. The business has a fifty day moving average price of $164.88 and a 200-day moving average price of $158.53.

Quest Diagnostics (NYSE:DGX) last posted 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%. Sell-side analysts forecast that Quest Diagnostics will post 9.7 EPS for the current year.

Quest Diagnostics Increases Dividend

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

Insider Activity

In related news, Director Vicky B. Gregg sold 1,250 shares of Quest Diagnostics stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $164.57, for a total transaction of $205,712.50. Following the transaction, the director now directly owns 16,867 shares of the company’s stock, valued at $2,775,802.19. This trade represents a 6.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Mark E. Delaney sold 403 shares of Quest Diagnostics stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $164.30, for a total transaction of $66,212.90. Following the transaction, the senior vice president now directly owns 4,624 shares in the company, valued at approximately $759,723.20. The trade was a 8.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,157 shares of company stock valued at $2,423,755. Corporate insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Quest Diagnostics

Institutional investors and hedge funds have recently bought and sold shares of the company. Sierra Ocean LLC purchased a new position in Quest Diagnostics in the fourth quarter worth $33,000. Versant Capital Management Inc grew its holdings in Quest Diagnostics by 340.4% in the fourth quarter. Versant Capital Management Inc now owns 251 shares of the medical research company’s stock worth $38,000 after purchasing an additional 194 shares during the last quarter. First Financial Corp IN acquired a new stake in shares of Quest Diagnostics during the fourth quarter worth $38,000. FPC Investment Advisory Inc. acquired a new stake in shares of Quest Diagnostics during the fourth quarter worth $45,000. Finally, Global Trust Asset Management LLC acquired a new stake in shares of Quest Diagnostics during the fourth quarter worth $49,000. 88.06% of the stock is owned by hedge funds and other institutional investors.

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.