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

StockNews.com downgraded shares of Quest Diagnostics (NYSE:DGXFree Report) from a buy rating to a hold rating in a report released on Friday.

A number of other research firms also recently weighed in on DGX. Truist Financial upped their price target on Quest Diagnostics from $145.00 to $150.00 and gave the stock a hold rating in a research note on Wednesday, April 24th. Leerink Partnrs reaffirmed a market perform rating on shares of Quest Diagnostics in a research note on Monday, February 26th. Barclays boosted their price objective on Quest Diagnostics from $138.00 to $144.00 and gave the stock an equal weight rating in a report on Thursday, April 25th. SVB Leerink started coverage on Quest Diagnostics in a report on Monday, February 26th. They set a market perform rating and a $135.00 price objective for the company. Finally, Citigroup boosted their price objective on Quest Diagnostics from $135.00 to $145.00 and gave the stock a neutral rating in a report on Wednesday, April 24th. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $146.67.

Check Out Our Latest Stock Report on DGX

Quest Diagnostics Stock Down 0.2 %

DGX stock opened at $142.34 on Friday. The stock’s 50 day simple moving average is $136.57 and its 200 day simple moving average is $133.53. Quest Diagnostics has a fifty-two week low of $119.59 and a fifty-two week high of $145.62. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.89 and a current ratio of 0.97. The company has a market cap of $15.81 billion, a P/E ratio of 19.16, a price-to-earnings-growth ratio of 3.10 and a beta of 0.90.

Quest Diagnostics (NYSE:DGXGet Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The medical research company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.18. Quest Diagnostics had a return on equity of 15.52% and a net margin of 9.11%. The business had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same period in the prior year, the business earned $2.04 EPS. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, research analysts expect that Quest Diagnostics will post 8.79 earnings per share for the current fiscal year.

Quest Diagnostics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 22nd. Stockholders of record on Monday, July 8th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Monday, July 8th. Quest Diagnostics’s dividend payout ratio is presently 40.38%.

Insider Activity

In other Quest Diagnostics news, SVP Karthik Kuppusamy sold 1,760 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $140.00, for a total transaction of $246,400.00. Following the completion of the transaction, the senior vice president now directly owns 13,435 shares of the company’s stock, valued at $1,880,900. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.79% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Quest Diagnostics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Czech National Bank grew its holdings in Quest Diagnostics by 0.4% during the fourth quarter. Czech National Bank now owns 19,692 shares of the medical research company’s stock valued at $2,715,000 after purchasing an additional 75 shares during the period. Mendota Financial Group LLC grew its holdings in Quest Diagnostics by 6.2% during the fourth quarter. Mendota Financial Group LLC now owns 1,296 shares of the medical research company’s stock valued at $179,000 after purchasing an additional 76 shares during the period. Arkadios Wealth Advisors grew its holdings in Quest Diagnostics by 1.6% during the first quarter. Arkadios Wealth Advisors now owns 4,933 shares of the medical research company’s stock valued at $657,000 after purchasing an additional 77 shares during the period. New England Capital Financial Advisors LLC grew its holdings in Quest Diagnostics by 24.7% during the first quarter. New England Capital Financial Advisors LLC now owns 389 shares of the medical research company’s stock valued at $52,000 after purchasing an additional 77 shares during the period. Finally, Montecito Bank & Trust lifted its position in shares of Quest Diagnostics by 4.7% during the fourth quarter. Montecito Bank & Trust now owns 1,909 shares of the medical research company’s stock worth $263,000 after acquiring an additional 85 shares in the last quarter. 88.06% of the stock is owned by institutional investors.

Quest Diagnostics Company Profile

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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.

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Analyst Recommendations for Quest Diagnostics (NYSE:DGX)

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