Quest Diagnostics Inc (DGX) Given Average Recommendation of “Hold” by Brokerages
Quest Diagnostics Inc (NYSE:DGX) has been given an average recommendation of “Hold” by the sixteen analysts that are presently covering the firm. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $107.27.
A number of research firms recently issued reports on DGX. Zacks Investment Research raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating and set a $119.00 price target on the stock in a research note on Tuesday. Argus began coverage on shares of Quest Diagnostics in a research note on Friday, May 12th. They set a “hold” rating and a $102.00 target price on the stock. Mizuho lifted their target price on shares of Quest Diagnostics from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, April 26th. Canaccord Genuity lifted their target price on shares of Quest Diagnostics from $102.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, April 25th. Finally, Evercore ISI reaffirmed an “in-line” rating and set a $104.50 target price (up previously from $102.00) on shares of Quest Diagnostics in a research note on Monday, April 24th.
Quest Diagnostics (NYSE:DGX) traded down 0.08% during trading on Tuesday, hitting $106.47. 290,890 shares of the stock traded hands. The stock has a 50 day moving average price of $103.31 and a 200-day moving average price of $95.35. The stock has a market cap of $14.57 billion, a P/E ratio of 21.43 and a beta of 0.68. Quest Diagnostics has a 52-week low of $75.20 and a 52-week high of $108.21.
Quest Diagnostics (NYSE:DGX) last released its quarterly earnings results on Thursday, April 20th. The medical research company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.15. Quest Diagnostics had a net margin of 8.56% and a return on equity of 14.61%. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter last year, the company earned $1.12 EPS. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, analysts anticipate that Quest Diagnostics will post $5.56 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 24th. Stockholders of record on Monday, July 10th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, July 6th. This represents a $1.80 annualized dividend and a dividend yield of 1.69%. Quest Diagnostics’s dividend payout ratio is presently 40.00%.
In other news, SVP Michael E. Prevoznik sold 440 shares of Quest Diagnostics stock in a transaction on Monday, February 27th. The stock was sold at an average price of $97.39, for a total transaction of $42,851.60. Following the transaction, the senior vice president now owns 41,734 shares in the company, valued at approximately $4,064,474.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jenne K. Britell sold 6,111 shares of Quest Diagnostics stock in a transaction on Monday, April 24th. The stock was sold at an average price of $104.03, for a total value of $635,727.33. The disclosure for this sale can be found here. In the last quarter, insiders have sold 57,213 shares of company stock worth $5,732,460. Insiders own 1.50% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. HighTower Advisors LLC raised its position in Quest Diagnostics by 17.2% in the third quarter. HighTower Advisors LLC now owns 12,345 shares of the medical research company’s stock valued at $1,045,000 after buying an additional 1,812 shares in the last quarter. KCG Holdings Inc. raised its position in Quest Diagnostics by 63.6% in the third quarter. KCG Holdings Inc. now owns 9,424 shares of the medical research company’s stock valued at $798,000 after buying an additional 3,663 shares in the last quarter. BOKF NA raised its position in Quest Diagnostics by 24.6% in the third quarter. BOKF NA now owns 8,901 shares of the medical research company’s stock valued at $753,000 after buying an additional 1,757 shares in the last quarter. Principal Financial Group Inc. raised its position in Quest Diagnostics by 0.5% in the third quarter. Principal Financial Group Inc. now owns 234,692 shares of the medical research company’s stock valued at $19,862,000 after buying an additional 1,108 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ raised its position in Quest Diagnostics by 0.4% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 1,528,852 shares of the medical research company’s stock valued at $129,387,000 after buying an additional 6,489 shares in the last quarter. Institutional investors and hedge funds own 87.71% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This story was originally published by American Banking News and is owned by of American Banking News. If you are viewing this story on another website, it was illegally copied and republished in violation of United States & international trademark & copyright law. The original version of this story can be viewed at https://www.americanbankingnews.com/2017/05/23/quest-diagnostics-inc-dgx-given-average-recommendation-of-hold-by-brokerages.html.
Quest Diagnostics Company Profile
Quest Diagnostics Incorporated is a provider of diagnostic information services. The Company operates through two businesses: Diagnostic Information Services and Diagnostic Solutions. The Diagnostic Information Services business develops and delivers diagnostic testing information and services, providing insights that empower and enable a range of customers, including patients, clinicians, hospitals, integrated delivery networks (IDNs), health plans, employers and accountable care organizations (ACOs).
Receive News & Ratings for Quest Diagnostics Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quest Diagnostics Inc and related companies with MarketBeat.com's FREE daily email newsletter.