Mizuho Reiterates $103.00 Price Target for Quest Diagnostics Incorporated (DGX)
Quest Diagnostics Incorporated (NYSE:DGX) has been assigned a $103.00 price objective by investment analysts at Mizuho in a note issued to investors on Thursday, MarketBeat.com reports. The firm currently has a “buy” rating on the medical research company’s stock. Mizuho’s price target would indicate a potential upside of 8.33% from the company’s current price.
Several other equities research analysts have also recently commented on DGX. UBS AG boosted their target price on Quest Diagnostics from $115.00 to $123.00 and gave the company a “buy” rating in a research note on Thursday, July 6th. BidaskClub upgraded Quest Diagnostics from a “sell” rating to a “hold” rating in a research note on Tuesday, August 15th. SunTrust Banks, Inc. set a $105.00 target price on Quest Diagnostics and gave the company a “hold” rating in a research note on Sunday, October 15th. Wells Fargo & Company began coverage on Quest Diagnostics in a research note on Thursday, October 12th. They issued a “market perform” rating and a $88.00 target price on the stock. Finally, Zacks Investment Research upgraded Quest Diagnostics from a “hold” rating to a “buy” rating and set a $121.00 target price on the stock in a research note on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $106.83.
Quest Diagnostics (NYSE:DGX) traded up 1.98% on Thursday, hitting $95.08. The stock had a trading volume of 1,807,088 shares. The stock has a 50 day moving average price of $98.11 and a 200 day moving average price of $104.54. Quest Diagnostics has a 1-year low of $79.12 and a 1-year high of $112.97. The company has a market cap of $12.97 billion, a P/E ratio of 19.16 and a beta of 0.65.
Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings data on Thursday, October 19th. The medical research company reported $1.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.04. The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.92 billion. Quest Diagnostics had a return on equity of 15.53% and a net margin of 8.82%. Quest Diagnostics’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.37 EPS. On average, equities research analysts expect that Quest Diagnostics will post $5.63 EPS for the current fiscal year.
In other news, Director Daniel Stanzione sold 3,803 shares of the stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $108.01, for a total transaction of $410,762.03. Following the sale, the director now directly owns 35,359 shares of the company’s stock, valued at approximately $3,819,125.59. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Stephen H. Rusckowski sold 53,933 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $108.16, for a total value of $5,833,393.28. Following the sale, the chief executive officer now directly owns 220,049 shares in the company, valued at $23,800,499.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 161,996 shares of company stock worth $17,517,207. 1.75% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Schnieders Capital Management LLC grew its holdings in shares of Quest Diagnostics by 0.3% during the 2nd quarter. Schnieders Capital Management LLC now owns 2,366 shares of the medical research company’s stock worth $263,000 after purchasing an additional 6 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Quest Diagnostics by 0.9% during the 2nd quarter. Parallel Advisors LLC now owns 1,291 shares of the medical research company’s stock worth $140,000 after buying an additional 12 shares during the last quarter. First American Trust FSB lifted its position in shares of Quest Diagnostics by 0.3% during the 2nd quarter. First American Trust FSB now owns 4,395 shares of the medical research company’s stock worth $489,000 after buying an additional 14 shares during the last quarter. Hills Bank & Trust Co. lifted its position in shares of Quest Diagnostics by 1.4% during the 2nd quarter. Hills Bank & Trust Co. now owns 2,560 shares of the medical research company’s stock worth $285,000 after buying an additional 35 shares during the last quarter. Finally, Ferguson Wellman Capital Management Inc. lifted its position in shares of Quest Diagnostics by 0.9% during the 2nd quarter. Ferguson Wellman Capital Management Inc. now owns 4,300 shares of the medical research company’s stock worth $478,000 after buying an additional 40 shares during the last quarter. 86.99% of the stock is currently owned by 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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