Quest Diagnostics (NYSE:DGX) Sets New 12-Month Low at $123.14

Quest Diagnostics Incorporated (NYSE:DGXGet Rating)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $123.14 and last traded at $123.14, with a volume of 1965 shares traded. The stock had previously closed at $125.59.

Wall Street Analyst Weigh In

Several research firms recently weighed in on DGX. StockNews.com downgraded shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Thursday, September 15th. Morgan Stanley reissued an “equal weight” rating and set a $142.00 target price on shares of Quest Diagnostics in a research note on Monday, August 22nd. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $148.50.

Quest Diagnostics Stock Performance

The company has a current ratio of 1.54, a quick ratio of 1.42 and a debt-to-equity ratio of 0.62. The company’s 50-day moving average price is $132.19 and its two-hundred day moving average price is $135.43. The company has a market cap of $14.20 billion, a P/E ratio of 10.13 and a beta of 1.01.

Quest Diagnostics (NYSE:DGXGet Rating) last posted its quarterly earnings data on Thursday, July 21st. The medical research company reported $2.36 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.10. Quest Diagnostics had a net margin of 14.02% and a return on equity of 24.62%. The company had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.34 billion. During the same quarter last year, the firm posted $3.18 EPS. The business’s revenue for the quarter was down 3.8% on a year-over-year basis. As a group, equities analysts forecast that Quest Diagnostics Incorporated will post 9.68 earnings per share for the current year.

Quest Diagnostics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 19th. Stockholders of record on Tuesday, October 4th will be given a dividend of $0.66 per share. The ex-dividend date is Monday, October 3rd. This represents a $2.64 annualized dividend and a dividend yield of 2.17%. Quest Diagnostics’s dividend payout ratio (DPR) is 21.96%.

Insiders Place Their Bets

In other Quest Diagnostics news, Director Timothy M. Ring sold 2,000 shares of the firm’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $133.47, for a total value of $266,940.00. Following the completion of the transaction, the director now directly owns 23,933 shares in the company, valued at $3,194,337.51. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Quest Diagnostics by 5.8% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 11,867 shares of the medical research company’s stock worth $1,624,000 after buying an additional 654 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of Quest Diagnostics during the first quarter worth approximately $524,000. Argent Trust Co boosted its holdings in shares of Quest Diagnostics by 1.4% during the first quarter. Argent Trust Co now owns 27,237 shares of the medical research company’s stock worth $3,728,000 after purchasing an additional 374 shares during the period. Pinebridge Investments L.P. boosted its holdings in shares of Quest Diagnostics by 480.4% during the first quarter. Pinebridge Investments L.P. now owns 98,916 shares of the medical research company’s stock worth $13,538,000 after purchasing an additional 81,873 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH boosted its holdings in shares of Quest Diagnostics by 20.4% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 8,513 shares of the medical research company’s stock worth $1,165,000 after purchasing an additional 1,440 shares during the period. 88.87% of the stock is currently owned by institutional investors and hedge funds.

About Quest Diagnostics

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Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic information services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.

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