Research Analysts’ Weekly Ratings Updates for Quest Diagnostics (DGX)
Several brokerages have updated their recommendations and price targets on shares of Quest Diagnostics (NYSE: DGX) in the last few weeks:
- 10/3/2017 – Quest Diagnostics was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Over the last year, Quest Diagnostics has been trading above the broader industry. The company’s earnings in the last reported quarter exceeded the estimates, while revenues lagged the same. On a positive note, it has witnessed significant growth through infectious disease testing, prescription drug monitoring and wellness business. It is currently refocusing on core diagnostic information services business and disciplined capital deployment. Finally, the raised 2017 guidance indicates about this bullish trend to continue ahead. In addition, alliance with hospitals and integrated delivery networks are the other growth drivers. Particularly, the company is positive about its acquisition of PeaceHealth in the Pacific Northwest which is expected to bolster growth in the rest 2017. However, we are concerned about tough organic volume scenario. Tough competitive landscape and reimbursement headwinds are other concerns.”
- 9/28/2017 – Quest Diagnostics had its price target lowered by analysts at Credit Suisse Group from $110.00 to $99.00. They now have a “neutral” rating on the stock.
- 9/26/2017 – Quest Diagnostics was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
- 9/25/2017 – Quest Diagnostics had its “market perform” rating reaffirmed by analysts at Raymond James Financial, Inc..
- 9/13/2017 – Quest Diagnostics had its “buy” rating reaffirmed by analysts at Canaccord Genuity. They now have a $118.00 price target on the stock.
- 9/1/2017 – Quest Diagnostics was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
- 8/15/2017 – Quest Diagnostics was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
- 8/10/2017 – Quest Diagnostics had its price target raised by analysts at Morgan Stanley from $87.00 to $92.00. They now have an “underweight” rating on the stock.
- 8/9/2017 – Quest Diagnostics was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
Quest Diagnostics Incorporated (DGX) opened at 92.89 on Wednesday. Quest Diagnostics Incorporated has a 1-year low of $79.12 and a 1-year high of $112.97. The firm’s 50-day moving average price is $103.46 and its 200-day moving average price is $105.22. The firm has a market cap of $12.67 billion, a price-to-earnings ratio of 18.72 and a beta of 0.65.
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 Zacks’ consensus estimate of $1.42 by $0.13. Quest Diagnostics had a return on equity of 15.66% and a net margin of 9.28%. The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the previous year, the firm posted $1.34 earnings per share. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, equities research analysts anticipate that Quest Diagnostics Incorporated will post $5.67 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 18th. Investors of record on Tuesday, October 3rd will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Monday, October 2nd. Quest Diagnostics’s payout ratio is currently 36.29%.
In related news, Chairman Stephen H. Rusckowski sold 59,235 shares of the business’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $108.16, for a total value of $6,406,857.60. Following the completion of the transaction, the chairman now owns 220,049 shares of the company’s stock, valued at approximately $23,800,499.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen H. Rusckowski sold 53,933 shares of the business’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $108.16, for a total transaction of $5,833,393.28. Following the completion of the transaction, the chief executive officer now directly owns 220,049 shares of the company’s stock, valued at approximately $23,800,499.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 161,996 shares of company stock worth $17,517,207. Corporate insiders own 1.75% of the company’s stock.
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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