Quest Diagnostics Inc (DGX) Stock Rating Reaffirmed by Bank of America Corp
Quest Diagnostics Inc (NYSE:DGX)‘s stock had its “neutral” rating reaffirmed by equities research analysts at Bank of America Corp in a research report issued on Sunday. They presently have a $110.00 target price on the medical research company’s stock, up from their prior target price of $105.00. Bank of America Corp’s price target would indicate a potential upside of 1.87% from the company’s previous close.
DGX has been the subject of several other reports. Zacks Investment Research upgraded Quest Diagnostics from a “hold” rating to a “buy” rating and set a $119.00 target price for the company in a research report on Tuesday, May 23rd. Argus began coverage on Quest Diagnostics in a research report on Friday, May 12th. They set a “hold” rating and a $102.00 target price for the company. Mizuho boosted their target price on Quest Diagnostics from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, April 26th. Canaccord Genuity boosted their target price on Quest Diagnostics from $102.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, April 25th. Finally, Evercore ISI restated an “in-line” rating and set a $104.50 target price (up from $102.00) on shares of Quest Diagnostics in a research report on Monday, April 24th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Quest Diagnostics presently has an average rating of “Hold” and a consensus target price of $107.81.
Quest Diagnostics (NYSE:DGX) traded down 0.15% during mid-day trading on Friday, hitting $107.98. The stock had a trading volume of 573,268 shares. Quest Diagnostics has a 12 month low of $75.20 and a 12 month high of $108.61. The company has a market cap of $14.77 billion, a price-to-earnings ratio of 21.74 and a beta of 0.68. The firm’s 50-day moving average is $104.21 and its 200 day moving average is $95.80.
Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings results on Thursday, April 20th. The medical research company reported $1.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.15. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Quest Diagnostics had a return on equity of 14.61% and a net margin of 8.56%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.12 earnings per share. Equities analysts anticipate that Quest Diagnostics will post $5.56 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 24th. Shareholders of record on Monday, July 10th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Thursday, July 6th. Quest Diagnostics’s dividend payout ratio (DPR) is currently 40.00%.
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In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 440 shares of Quest Diagnostics stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $97.39, for a total transaction of $42,851.60. Following the completion of the sale, the senior vice president now owns 41,734 shares of the company’s stock, valued at $4,064,474.26. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Catherine T. Doherty sold 7,162 shares of Quest Diagnostics stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $98.28, for a total value of $703,881.36. Following the sale, the senior vice president now directly owns 87,809 shares of the company’s stock, valued at approximately $8,629,868.52. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 57,213 shares of company stock valued at $5,732,460. Corporate insiders own 1.50% of the company’s stock.
A number of large investors have recently modified their holdings of DGX. Jane Street Group LLC raised its stake in shares of Quest Diagnostics by 46.3% in the third quarter. Jane Street Group LLC now owns 12,866 shares of the medical research company’s stock valued at $1,089,000 after buying an additional 4,071 shares during the period. Ontario Teachers Pension Plan Board raised its stake in shares of Quest Diagnostics by 46.3% in the third quarter. Ontario Teachers Pension Plan Board now owns 78,194 shares of the medical research company’s stock valued at $6,618,000 after buying an additional 24,762 shares during the period. The Manufacturers Life Insurance Company purchased a new stake in shares of Quest Diagnostics during the third quarter valued at about $11,593,000. Virtus Investment Advisers Inc. purchased a new stake in shares of Quest Diagnostics during the third quarter valued at about $260,000. Finally, Lazard Asset Management LLC raised its stake in shares of Quest Diagnostics by 352.3% in the third quarter. Lazard Asset Management LLC now owns 127,612 shares of the medical research company’s stock valued at $10,798,000 after buying an additional 99,395 shares during the period. 87.71% of the stock is owned by hedge funds and other institutional investors.
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).
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