Quest Diagnostics (NYSE:DGX) Price Target Raised to $175.00

Quest Diagnostics (NYSE:DGX) had its target price raised by Barclays from $168.00 to $175.00 in a report released on Friday,Benzinga reports. They currently have an equal weight rating on the medical research company’s stock.

A number of other research firms also recently issued reports on DGX. Truist Financial boosted their price target on Quest Diagnostics from $158.00 to $165.00 and gave the company a “hold” rating in a research report on Monday, October 7th. Mizuho upped their target price on Quest Diagnostics from $160.00 to $174.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $185.00 target price (up previously from $175.00) on shares of Quest Diagnostics in a research report on Tuesday, December 10th. UBS Group boosted their price target on Quest Diagnostics from $165.00 to $166.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Finally, StockNews.com upgraded Quest Diagnostics from a “hold” rating to a “buy” rating in a research note on Wednesday, January 29th. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $174.00.

Quest Diagnostics Stock Performance

Shares of DGX stock opened at $162.77 on Friday. Quest Diagnostics has a 1 year low of $123.04 and a 1 year high of $167.08. The stock has a market cap of $18.17 billion, a PE ratio of 21.88, a P/E/G ratio of 2.43 and a beta of 0.90. The stock has a fifty day moving average price of $155.40 and a 200 day moving average price of $153.66. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.17 and a current ratio of 1.25.

Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings results on Thursday, January 30th. The medical research company reported $2.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.19 by $0.04. Quest Diagnostics had a return on equity of 15.25% and a net margin of 8.82%. Sell-side analysts forecast that Quest Diagnostics will post 8.9 earnings per share for the current fiscal year.

Quest Diagnostics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be given a $0.80 dividend. This is an increase from Quest Diagnostics’s previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Monday, April 7th. Quest Diagnostics’s dividend payout ratio (DPR) is currently 40.32%.

Insider Activity

In related news, CAO Michael J. Deppe sold 18,755 shares of Quest Diagnostics stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $154.05, for a total transaction of $2,889,207.75. Following the sale, the chief accounting officer now directly owns 34,941 shares of the company’s stock, valued at $5,382,661.05. This trade represents a 34.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.79% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Quest Diagnostics

Institutional investors have recently added to or reduced their stakes in the company. Landscape Capital Management L.L.C. acquired a new stake in Quest Diagnostics during the third quarter worth about $1,363,000. Natixis Advisors LLC grew its position in Quest Diagnostics by 7.7% during the third quarter. Natixis Advisors LLC now owns 92,830 shares of the medical research company’s stock worth $14,412,000 after buying an additional 6,619 shares in the last quarter. Sanctuary Advisors LLC grew its position in Quest Diagnostics by 85.5% during the third quarter. Sanctuary Advisors LLC now owns 17,969 shares of the medical research company’s stock worth $2,940,000 after buying an additional 8,282 shares in the last quarter. BankPlus Wealth Management LLC acquired a new stake in Quest Diagnostics during the fourth quarter worth about $355,000. Finally, Icon Wealth Advisors LLC grew its position in Quest Diagnostics by 8,669.8% during the third quarter. Icon Wealth Advisors LLC now owns 62,178 shares of the medical research company’s stock worth $9,653,000 after buying an additional 61,469 shares in the last quarter. 88.06% of the stock is 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.