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

Quest Diagnostics Incorporated (NYSE:DGX) has earned a consensus recommendation of “Moderate Buy” from the sixteen research firms that are presently covering the stock, MarketBeat.com reports. Seven analysts have rated the stock with a hold rating, seven 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 $185.73.

DGX has been the subject of several research analyst reports. Redburn Atlantic initiated coverage on shares of Quest Diagnostics in a research note on Wednesday, April 2nd. They issued a “buy” rating and a $195.00 price target for the company. Redburn Partners set a $195.00 price objective on shares of Quest Diagnostics in a report on Wednesday, April 2nd. Mizuho lifted their price target on Quest Diagnostics from $178.00 to $189.00 and gave the company an “outperform” rating in a research note on Wednesday, April 9th. Barclays increased their price objective on Quest Diagnostics from $175.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 23rd. Finally, Piper Sandler lifted their target price on Quest Diagnostics from $180.00 to $200.00 and gave the company a “neutral” rating in a research report on Monday, April 28th.

Insider Activity

In other news, SVP Mark E. Delaney sold 874 shares of Quest Diagnostics stock in a transaction on Monday, May 12th. The stock was sold at an average price of $175.72, for a total value of $153,579.28. Following the completion of the transaction, the senior vice president directly owned 8,372 shares in the company, valued at approximately $1,471,127.84. The trade was a 9.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.16% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Quest Diagnostics

A number of large investors have recently modified their holdings of the company. First Horizon Advisors Inc. raised its holdings in shares of Quest Diagnostics by 76.6% in the 1st quarter. First Horizon Advisors Inc. now owns 189 shares of the medical research company’s stock valued at $32,000 after acquiring an additional 82 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in Quest Diagnostics by 9.5% in the first quarter. Janney Montgomery Scott LLC now owns 18,010 shares of the medical research company’s stock valued at $3,047,000 after purchasing an additional 1,566 shares in the last quarter. Brown Advisory Inc. lifted its position in Quest Diagnostics by 2.2% during the first quarter. Brown Advisory Inc. now owns 7,081 shares of the medical research company’s stock valued at $1,198,000 after purchasing an additional 150 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Quest Diagnostics by 10.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,577 shares of the medical research company’s stock valued at $2,439,000 after buying an additional 1,348 shares in the last quarter. Finally, Perigon Wealth Management LLC bought a new stake in shares of Quest Diagnostics during the 1st quarter worth $221,000. 88.06% of the stock is currently owned by institutional investors.

Quest Diagnostics Stock Performance

DGX stock opened at $167.06 on Thursday. The firm has a market cap of $18.65 billion, a PE ratio of 21.12, a price-to-earnings-growth ratio of 2.32 and a beta of 0.49. The company has a current ratio of 1.44, a quick ratio of 1.31 and a debt-to-equity ratio of 0.84. The stock has a 50-day moving average price of $175.30 and a 200-day moving average price of $168.72. Quest Diagnostics has a 1-year low of $137.71 and a 1-year high of $182.38.

Quest Diagnostics (NYSE:DGX) last issued its earnings results on Tuesday, April 22nd. The medical research company reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.06. The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.63 billion. Quest Diagnostics had a return on equity of 15.11% and a net margin of 8.81%. As a group, equities research analysts expect that Quest Diagnostics will post 9.7 earnings per share for the current year.

Quest Diagnostics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Shareholders of record on Monday, July 7th will be issued a dividend of $0.80 per share. The ex-dividend date is Monday, July 7th. This represents a $3.20 dividend on an annualized basis and a yield of 1.92%. Quest Diagnostics’s payout ratio is 40.46%.

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.