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

Shares of Quest Diagnostics Incorporated (NYSE:DGX) have been given a consensus rating of “Moderate Buy” by the fifteen ratings firms that are presently covering the firm, Marketbeat.com reports. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $178.23.

DGX has been the topic of a number of research reports. Citigroup lowered shares of Quest Diagnostics from a “buy” rating to a “neutral” rating and set a $185.00 target price on the stock. in a research note on Tuesday, March 4th. JPMorgan Chase & Co. lifted their target price on shares of Quest Diagnostics from $173.00 to $180.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Barclays lifted their target price on shares of Quest Diagnostics from $168.00 to $175.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Piper Sandler reaffirmed a “neutral” rating and set a $180.00 target price (up previously from $165.00) on shares of Quest Diagnostics in a research note on Monday, February 3rd. Finally, Leerink Partnrs raised shares of Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th.

Quest Diagnostics Price Performance

Shares of Quest Diagnostics stock opened at $168.80 on Friday. The firm has a market cap of $18.73 billion, a PE ratio of 21.95, a price-to-earnings-growth ratio of 2.16 and a beta of 0.92. Quest Diagnostics has a 12-month low of $125.09 and a 12-month high of $178.87. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.82. The company’s fifty day simple moving average is $163.19 and its two-hundred day simple moving average is $158.01.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings results on Thursday, January 30th. The medical research company reported $2.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.19 by $0.04. Quest Diagnostics had a net margin of 8.80% and a return on equity of 15.07%. As a group, equities analysts expect that Quest Diagnostics will post 9.7 EPS for the current year.

Quest Diagnostics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Monday, April 7th. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a yield of 1.90%. Quest Diagnostics’s payout ratio is 41.61%.

Insiders Place Their Bets

In other news, SVP Mark E. Delaney sold 403 shares of the business’s 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 completion of the transaction, the senior vice president now directly owns 4,624 shares of the company’s stock, valued at $759,723.20. The trade was a 8.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Vicky B. Gregg sold 1,250 shares of the business’s 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. The trade was a 6.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,514 shares of company stock valued at $1,634,445. Insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Sierra Ocean LLC bought a new stake in Quest Diagnostics during the fourth quarter valued at approximately $33,000. Versant Capital Management Inc grew its position in Quest Diagnostics by 340.4% during the fourth quarter. Versant Capital Management Inc now owns 251 shares of the medical research company’s stock valued at $38,000 after buying an additional 194 shares during the period. First Financial Corp IN bought a new stake in Quest Diagnostics during the fourth quarter valued at approximately $38,000. FPC Investment Advisory Inc. bought a new stake in Quest Diagnostics during the fourth quarter valued at approximately $45,000. Finally, Global Trust Asset Management LLC bought a new stake in Quest Diagnostics during the fourth quarter valued at approximately $49,000. 88.06% of the stock is 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.