Quest Diagnostics Incorporated (DGX) Given New $92.00 Price Target at Morgan Stanley
Quest Diagnostics Incorporated (NYSE:DGX) had its price objective boosted by equities research analysts at Morgan Stanley from $87.00 to $92.00 in a research note issued on Thursday. The firm presently has an “underweight” rating on the medical research company’s stock. Morgan Stanley’s price objective indicates a potential downside of 12.89% from the company’s current price.
DGX has been the subject of several other research reports. UBS AG restated a “buy” rating and set a $115.00 price target (up previously from $102.00) on shares of Quest Diagnostics in a research report on Tuesday, April 25th. Zacks Investment Research raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating and set a $122.00 price objective for the company in a research note on Tuesday, June 6th. Mizuho reaffirmed a “buy” rating and set a $90.00 price objective (down previously from $103.00) on shares of Quest Diagnostics in a research note on Friday, April 14th. BidaskClub raised shares of Quest Diagnostics from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 29th. Finally, ValuEngine raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $109.62.
Shares of Quest Diagnostics (NYSE DGX) traded down 0.84% on Thursday, hitting $105.61. The stock had a trading volume of 689,526 shares. Quest Diagnostics has a 12 month low of $79.12 and a 12 month high of $112.97. The firm has a market cap of $14.41 billion, a P/E ratio of 21.28 and a beta of 0.69. The firm’s 50-day moving average price is $109.02 and its 200 day moving average price is $102.91.
Quest Diagnostics (NYSE:DGX) last released its quarterly earnings results on Tuesday, July 25th. The medical research company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.13. Quest Diagnostics had a net margin of 9.28% and a return on equity of 15.66%. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the prior year, the firm earned $1.34 EPS. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. Analysts anticipate that Quest Diagnostics will post $5.70 EPS for the current fiscal year.
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In other news, Director Jeffrey M. Leiden sold 296 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $106.66, for a total value of $31,571.36. Following the transaction, the director now directly owns 6,000 shares in the company, valued at approximately $639,960. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey M. Leiden sold 1,304 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $108.73, for a total transaction of $141,783.92. Following the completion of the transaction, the director now owns 6,296 shares in the company, valued at $684,564.08. The disclosure for this sale can be found here. In the last three months, insiders sold 61,362 shares of company stock valued at $6,600,758. Corporate insiders own 1.50% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Fiera Capital Corp bought a new position in shares of Quest Diagnostics during the second quarter valued at approximately $304,000. Summit Global Investments raised its position in shares of Quest Diagnostics by 12.2% in the second quarter. Summit Global Investments now owns 4,600 shares of the medical research company’s stock valued at $511,000 after buying an additional 500 shares in the last quarter. Riverhead Capital Management LLC raised its position in shares of Quest Diagnostics by 84.9% in the second quarter. Riverhead Capital Management LLC now owns 68,495 shares of the medical research company’s stock valued at $7,614,000 after buying an additional 31,441 shares in the last quarter. AJO LP raised its position in shares of Quest Diagnostics by 137.9% in the second quarter. AJO LP now owns 2,134,245 shares of the medical research company’s stock valued at $237,243,000 after buying an additional 1,237,021 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Quest Diagnostics by 3.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,894 shares of the medical research company’s stock valued at $434,000 after buying an additional 131 shares in the last quarter. Hedge funds and other institutional investors own 90.97% of the company’s stock.
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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