Quest Diagnostics Incorporated (NYSE:DGX) Given Consensus Rating of “Moderate Buy” by Brokerages

Quest Diagnostics Incorporated (NYSE:DGX) has been given a consensus rating of “Moderate Buy” by the eighteen brokerages that are currently covering the firm, MarketBeat reports. Ten equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $197.2667.

Several research analysts have commented on the stock. Wall Street Zen cut shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Jefferies Financial Group boosted their price objective on Quest Diagnostics from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Weiss Ratings restated a “buy (b)” rating on shares of Quest Diagnostics in a research report on Wednesday, October 8th. Evercore ISI boosted their price target on Quest Diagnostics from $185.00 to $190.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 8th. Finally, Baird R W cut Quest Diagnostics from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 25th.

Quest Diagnostics Price Performance

Shares of NYSE DGX opened at $176.20 on Friday. Quest Diagnostics has a 1-year low of $148.70 and a 1-year high of $197.55. The firm has a market capitalization of $19.60 billion, a PE ratio of 20.68, a P/E/G ratio of 2.41 and a beta of 0.62. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.13 and a quick ratio of 1.04. The business’s fifty day moving average price is $183.51 and its two-hundred day moving average price is $179.80.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings results on Tuesday, October 21st. The medical research company reported $2.60 EPS for the quarter, topping the consensus estimate of $2.51 by $0.09. Quest Diagnostics had a net margin of 8.91% and a return on equity of 15.47%. The business had revenue of $2.82 billion during the quarter, compared to analyst estimates of $2.73 billion. During the same quarter in the prior year, the firm earned $2.30 earnings per share. The company’s quarterly revenue was up 13.2% on a year-over-year basis. Quest Diagnostics has set its FY 2025 guidance at 9.760-9.840 EPS. On average, research analysts expect that Quest Diagnostics will post 9.7 EPS for the current year.

Quest Diagnostics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 28th. Investors of record on Tuesday, January 13th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Tuesday, January 13th. Quest Diagnostics’s dividend payout ratio is currently 37.56%.

Insider Activity

In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 28,288 shares of the business’s stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $187.12, for a total transaction of $5,293,250.56. Following the sale, the senior vice president directly owned 38,117 shares in the company, valued at approximately $7,132,453.04. The trade was a 42.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gary M. Pfeiffer sold 1,482 shares of the company’s stock in a transaction that occurred on Wednesday, October 22nd. The stock was sold at an average price of $182.40, for a total transaction of $270,316.80. Following the completion of the sale, the director directly owned 29,431 shares of the company’s stock, valued at approximately $5,368,214.40. This represents a 4.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 94,461 shares of company stock worth $17,957,361 in the last 90 days. 8.16% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Quest Diagnostics

Hedge funds have recently modified their holdings of the company. Pinnacle Bancorp Inc. lifted its holdings in shares of Quest Diagnostics by 126.9% in the second quarter. Pinnacle Bancorp Inc. now owns 152 shares of the medical research company’s stock valued at $27,000 after buying an additional 85 shares during the period. True Wealth Design LLC grew its holdings in Quest Diagnostics by 369.7% during the third quarter. True Wealth Design LLC now owns 155 shares of the medical research company’s stock worth $30,000 after acquiring an additional 122 shares during the period. MTM Investment Management LLC bought a new stake in Quest Diagnostics in the second quarter worth about $29,000. First Horizon Corp acquired a new stake in Quest Diagnostics in the 3rd quarter valued at about $33,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Quest Diagnostics during the 3rd quarter valued at about $33,000. 88.06% of the stock is currently owned by institutional investors and hedge funds.

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.