Quest Diagnostics Given Neutral Rating at Zacks (DGX)
Quest Diagnostics (NYSE:DGX)‘s stock had its “neutral” rating reiterated by Zacks in a report issued on Tuesday, American Banking & Market News reports. They currently have a $65.00 price target on the stock. Zacks‘ target price indicates a potential upside of 4.42% from the company’s current price.
Zacks‘ analyst wrote, “Quest Diagnostics reported a dismal second quarter 2013 with adjusted EPS of $1.06, lagging the Zacks Consensus Estimate by $0.03 and the year-ago earnings by 5.2%. Besides, revenues of $1.81 billion were down 3.3% and failed to meet the Zacks Consensus Estimate. The current market environment continued to pose challenges in the form of lower health care utilization and Medicare cuts. We are also concerned with the overall soft industry trends leading to volume pressure which was reflected in the conservative 2013 outlook. However, we hold a favorable view regarding the company’s organizational restructuring strategy to increase operational efficiency and restore growth. Moreover, the company’s strategy to align assets in core diagnostics information service business is encouraging. Accordingly, we remain Neutral on the stock. “
Other equities research analysts have also recently issued reports about the stock. Analysts at Goldman Sachs Group Inc. raised their price target on shares of Quest Diagnostics from $66.00 to $71.00 in a research note to investors on Wednesday, October 2nd. They now have a “buy” rating on the stock. Separately, analysts at Craig Hallum initiated coverage on shares of Quest Diagnostics in a research note to investors on Thursday, September 19th. They set a “buy” rating on the stock. Finally, analysts at Maxim Group reiterated a “buy” rating on shares of Quest Diagnostics in a research note to investors on Thursday, September 5th. They now have a $73.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $61.40.
Quest Diagnostics (NYSE:DGX) traded down 0.08% on Tuesday, hitting $62.20. The stock had a trading volume of 669,575 shares. Quest Diagnostics has a one year low of $55.16 and a one year high of $64.76. The stock’s 50-day moving average is $60.80 and its 200-day moving average is $59.69. The company has a market cap of $9.447 billion and a price-to-earnings ratio of 19.00.
Quest Diagnostics (NYSE:DGX) last released its earnings data on Thursday, July 18th. The company reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by $0.04. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the prior year, the company posted $1.17 earnings per share. The company’s quarterly revenue was down 3.4% on a year-over-year basis. On average, analysts predict that Quest Diagnostics will post $4.34 EPS for the current fiscal year.
Quest Diagnostics Incorporated (NYSE:DGX)is a provider of diagnostic testing, information and services, providing insights that enable patients and physicians to make healthcare decisions.
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