StockNews.com Downgrades Quest Diagnostics (NYSE:DGX) to Hold

Quest Diagnostics (NYSE:DGX) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

Several other equities research analysts have also issued reports on DGX. Citigroup lifted their target price on shares of Quest Diagnostics from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday. Piper Sandler raised their price target on Quest Diagnostics from $145.00 to $150.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. UBS Group increased their price objective on Quest Diagnostics from $165.00 to $166.00 and gave the company a “neutral” rating in a research report on Wednesday. Robert W. Baird raised Quest Diagnostics from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $157.00 to $182.00 in a research note on Wednesday. Finally, Evercore ISI assumed coverage on shares of Quest Diagnostics in a research note on Wednesday, August 28th. They issued an “in-line” rating and a $165.00 price objective for the company. Nine equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $163.33.

Quest Diagnostics Price Performance

Shares of NYSE:DGX opened at $158.00 on Wednesday. Quest Diagnostics has a 12 month low of $121.60 and a 12 month high of $160.95. The company has a current ratio of 1.00, a quick ratio of 0.91 and a debt-to-equity ratio of 0.57. The stock has a market cap of $17.55 billion, a P/E ratio of 21.27, a P/E/G ratio of 2.45 and a beta of 0.89. The company has a 50 day moving average of $153.05 and a 200 day moving average of $144.57.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings data on Tuesday, October 22nd. The medical research company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.04. Quest Diagnostics had a return on equity of 15.35% and a net margin of 8.99%. The company had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter last year, the business posted $2.22 earnings per share. The firm’s revenue was up 8.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Quest Diagnostics will post 8.89 EPS for the current fiscal year.

Insider Activity

In related news, SVP Karthik Kuppusamy sold 1,990 shares of Quest Diagnostics stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $153.26, for a total transaction of $304,987.40. Following the completion of the transaction, the senior vice president now directly owns 11,459 shares of the company’s stock, valued at $1,756,206.34. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Quest Diagnostics

A number of large investors have recently added to or reduced their stakes in the stock. Rothschild Investment LLC purchased a new position in shares of Quest Diagnostics during the 2nd quarter valued at $26,000. Innealta Capital LLC purchased a new position in Quest Diagnostics during the second quarter worth $31,000. Larson Financial Group LLC lifted its holdings in shares of Quest Diagnostics by 77.5% in the 2nd quarter. Larson Financial Group LLC now owns 229 shares of the medical research company’s stock worth $31,000 after acquiring an additional 100 shares during the last quarter. Riverview Trust Co purchased a new position in shares of Quest Diagnostics during the first quarter valued at approximately $33,000. Finally, TruNorth Capital Management LLC bought a new position in Quest Diagnostics in the 2nd quarter valued at $33,000. Institutional investors own 88.06% of the company’s stock.

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.