StockNews.com Upgrades Quest Diagnostics (NYSE:DGX) to “Buy”

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

Several other research analysts have also recently weighed in on the company. Piper Sandler increased their price objective on Quest Diagnostics from $150.00 to $165.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Citigroup boosted their price objective on shares of Quest Diagnostics from $165.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Baird R W raised shares of Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 23rd. Jefferies Financial Group reiterated a “buy” rating and issued a $185.00 price target (up from $175.00) on shares of Quest Diagnostics in a research note on Tuesday, December 10th. Finally, Barclays lifted their price objective on Quest Diagnostics from $154.00 to $168.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Quest Diagnostics presently has an average rating of “Moderate Buy” and a consensus target price of $169.15.

Quest Diagnostics Trading Up 1.0 %

Shares of NYSE:DGX opened at $153.10 on Friday. The company has a 50-day simple moving average of $157.03 and a 200 day simple moving average of $150.80. The company has a market capitalization of $17.09 billion, a P/E ratio of 20.58, a price-to-earnings-growth ratio of 2.69 and a beta of 0.89. 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 has a 52-week low of $123.04 and a 52-week high of $165.32.

Quest Diagnostics (NYSE:DGX) last posted its earnings results on Tuesday, October 22nd. The medical research company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.04. Quest Diagnostics had a return on equity of 15.25% and a net margin of 8.82%. The business had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period in the previous year, the firm earned $2.22 EPS. The firm’s revenue was up 8.5% compared to the same quarter last year. Sell-side analysts forecast that Quest Diagnostics will post 8.9 earnings per share for the current year.

Insider Buying and Selling at Quest Diagnostics

In related news, SVP Karthik Kuppusamy sold 1,775 shares of Quest Diagnostics stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $156.92, for a total transaction of $278,533.00. Following the transaction, the senior vice president now owns 9,734 shares of the company’s stock, valued at $1,527,459.28. The trade was a 15.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Michael J. Deppe sold 18,755 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $154.05, for a total value of $2,889,207.75. Following the completion of the sale, the chief accounting officer now directly owns 34,941 shares of the company’s stock, valued at $5,382,661.05. The trade was a 34.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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. Principal Financial Group Inc. raised its position in Quest Diagnostics by 18.6% in the third quarter. Principal Financial Group Inc. now owns 438,977 shares of the medical research company’s stock worth $68,144,000 after acquiring an additional 68,844 shares during the period. Franklin Resources Inc. lifted its stake in Quest Diagnostics by 45.8% in the third quarter. Franklin Resources Inc. now owns 54,897 shares of the medical research company’s stock valued at $8,180,000 after purchasing an additional 17,240 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Quest Diagnostics in the third quarter worth $201,000. Sanctuary Advisors LLC increased its position in Quest Diagnostics by 85.5% in 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 during the last quarter. Finally, Pine Valley Investments Ltd Liability Co lifted its position in shares of Quest Diagnostics by 13.1% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 34,708 shares of the medical research company’s stock valued at $5,388,000 after buying an additional 4,024 shares during the last quarter. 88.06% of the stock is owned by institutional investors.

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.