Quest Diagnostics (NYSE:DGX) Stock Rating Upgraded by Barclays

Quest Diagnostics (NYSE:DGX) was upgraded by investment analysts at Barclays from an “equal weight” rating to an “overweight” rating in a report issued on Friday, MarketBeat reports. The firm currently has a $210.00 price objective on the medical research company’s stock. Barclays‘s price objective indicates a potential upside of 12.36% from the company’s previous close.

A number of other brokerages have also recently commented on DGX. Truist Financial raised their price target on shares of Quest Diagnostics from $195.00 to $205.00 and gave the stock a “hold” rating in a research note on Wednesday, October 22nd. Wall Street Zen cut Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Sunday, January 25th. Leerink Partners boosted their price target on Quest Diagnostics from $203.00 to $210.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Morgan Stanley set a $207.00 price target on Quest Diagnostics and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Finally, Mizuho lifted their price objective on Quest Diagnostics from $190.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Eight equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $198.27.

Quest Diagnostics Stock Up 2.5%

DGX opened at $186.90 on Friday. The company has a market capitalization of $20.79 billion, a P/E ratio of 21.94, a P/E/G ratio of 2.31 and a beta of 0.64. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.13 and a quick ratio of 1.04. The firm’s fifty day moving average price is $181.36 and its two-hundred day moving average price is $180.63. Quest Diagnostics has a fifty-two week low of $157.20 and a fifty-two week high of $197.55.

Insiders Place Their Bets

In related news, SVP Mark E. Delaney sold 7,946 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $187.35, for a total value of $1,488,683.10. Following the completion of the sale, the senior vice president owned 7,530 shares of the company’s stock, valued at $1,410,745.50. This trade represents a 51.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO J. E. Davis sold 55,093 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $192.22, for a total transaction of $10,589,976.46. Following the completion of the transaction, the chief executive officer owned 120,480 shares of the company’s stock, valued at $23,158,665.60. This trade represents a 31.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 64,289 shares of company stock valued at $12,318,360. Insiders own 8.16% of the company’s stock.

Institutional Investors Weigh In On Quest Diagnostics

Several hedge funds and other institutional investors have recently made changes to their positions in DGX. Sigma Planning Corp lifted its stake in shares of Quest Diagnostics by 4.9% during the fourth quarter. Sigma Planning Corp now owns 4,804 shares of the medical research company’s stock valued at $837,000 after acquiring an additional 225 shares during the period. Levin Capital Strategies L.P. bought a new stake in Quest Diagnostics during the 4th quarter worth about $312,000. Interchange Capital Partners LLC lifted its position in Quest Diagnostics by 50.6% during the 4th quarter. Interchange Capital Partners LLC now owns 1,742 shares of the medical research company’s stock valued at $302,000 after purchasing an additional 585 shares during the period. Caldwell Trust Co lifted its position in Quest Diagnostics by 39.6% during the 4th quarter. Caldwell Trust Co now owns 10,879 shares of the medical research company’s stock valued at $1,888,000 after purchasing an additional 3,085 shares during the period. Finally, Certuity LLC boosted its stake in shares of Quest Diagnostics by 28.7% in the 4th quarter. Certuity LLC now owns 1,559 shares of the medical research company’s stock valued at $271,000 after purchasing an additional 348 shares during the last quarter. 88.06% of the stock is owned by institutional investors and hedge funds.

Quest Diagnostics Company Profile

Quest Diagnostics (NYSE: DGX) is a leading provider of diagnostic information services that supports clinical decision-making for patients, physicians and healthcare organizations. The company operates a network of clinical laboratories and patient service centers that perform a broad range of laboratory tests and diagnostic assays used in routine care, disease diagnosis, monitoring and screening.

Its services span core clinical laboratory testing, anatomic pathology, molecular and genomic diagnostics, infectious disease testing and toxicology.