Quest Diagnostics Incorporated (NYSE:DGX) Receives $185.73 Average PT from Analysts

Quest Diagnostics Incorporated (NYSE:DGX) has been given a consensus recommendation of “Moderate Buy” by the sixteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $185.73.

Several equities research analysts have weighed in on the stock. Redburn Atlantic assumed coverage on shares of Quest Diagnostics in a research note on Wednesday, April 2nd. They issued a “buy” rating and a $195.00 price target for the company. JPMorgan Chase & Co. lifted their price target on shares of Quest Diagnostics from $180.00 to $190.00 and gave the company a “neutral” rating in a research note on Tuesday, May 6th. Evercore ISI lifted their price target on shares of Quest Diagnostics from $175.00 to $180.00 and gave the company an “in-line” rating in a research note on Wednesday, April 23rd. Barclays lifted their price objective on shares of Quest Diagnostics from $175.00 to $185.00 and gave the company an “equal weight” rating in a report on Wednesday, April 23rd. Finally, Robert W. Baird lifted their price objective on shares of Quest Diagnostics from $191.00 to $194.00 and gave the company an “outperform” rating in a report on Wednesday, April 23rd.

Quest Diagnostics Price Performance

Shares of NYSE:DGX opened at $173.07 on Wednesday. The firm has a market cap of $19.32 billion, a PE ratio of 22.51, a price-to-earnings-growth ratio of 2.16 and a beta of 0.52. The firm’s fifty day moving average is $170.91 and its 200-day moving average is $164.74. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.02 and a current ratio of 1.10. Quest Diagnostics has a 52 week low of $135.47 and a 52 week high of $179.99.

Quest Diagnostics (NYSE:DGX) last announced its earnings results on Tuesday, April 22nd. The medical research company reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.06. Quest Diagnostics had a net margin of 8.80% and a return on equity of 15.07%. The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.63 billion. Sell-side analysts predict that Quest Diagnostics will post 9.7 earnings per share for the current year.

Quest Diagnostics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 21st. Investors of record on Monday, July 7th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend is Monday, July 7th. Quest Diagnostics’s dividend payout ratio (DPR) is presently 40.46%.

Insider Buying and Selling

In related news, CEO J. E. Davis sold 39,191 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $168.46, for a total transaction of $6,602,115.86. Following the transaction, the chief executive officer now directly owns 127,623 shares in the company, valued at approximately $21,499,370.58. The trade was a 23.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Mark E. Delaney sold 874 shares of the business’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $175.72, for a total transaction of $153,579.28. Following the transaction, the senior vice president now owns 8,372 shares in the company, valued at approximately $1,471,127.84. This trade represents a 9.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,633 shares of company stock worth $8,914,433. 8.16% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DGX. Barclays PLC boosted its stake in Quest Diagnostics by 35.9% in the third quarter. Barclays PLC now owns 298,922 shares of the medical research company’s stock valued at $46,407,000 after acquiring an additional 78,980 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Quest Diagnostics by 4.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 10,555 shares of the medical research company’s stock valued at $1,592,000 after acquiring an additional 402 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in Quest Diagnostics by 0.6% in the fourth quarter. Janney Montgomery Scott LLC now owns 16,444 shares of the medical research company’s stock valued at $2,481,000 after acquiring an additional 96 shares during the last quarter. Mutual Advisors LLC purchased a new position in Quest Diagnostics in the fourth quarter valued at about $221,000. Finally, Brighton Jones LLC purchased a new position in Quest Diagnostics in the fourth quarter valued at about $323,000. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

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.