Stock analysts at Goldman Sachs Group started coverage on shares of Quest Diagnostics (NYSE:DGX) in a note issued to investors on Monday, MarketBeat Ratings reports. The firm set a “buy” rating and a $117.00 price target on the medical research company’s stock. Goldman Sachs Group’s price target indicates a potential upside of 8.45% from the stock’s previous close.
A number of other research analysts also recently issued reports on the company. Mizuho set a $103.00 price target on Quest Diagnostics and gave the company a “buy” rating in a report on Thursday, October 19th. Canaccord Genuity boosted their price target on Quest Diagnostics from $100.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, October 26th. Jefferies Group set a $98.00 price target on Quest Diagnostics and gave the company a “hold” rating in a report on Saturday, November 25th. Zacks Investment Research raised Quest Diagnostics from a “sell” rating to a “hold” rating in a report on Monday, November 6th. Finally, Craig Hallum reissued a “hold” rating and issued a $100.00 price target (down from $110.00) on shares of Quest Diagnostics in a report on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $107.15.
Shares of Quest Diagnostics (DGX) traded up $1.26 during midday trading on Monday, reaching $107.88. The company had a trading volume of 1,214,503 shares, compared to its average volume of 825,821. The stock has a market capitalization of $14,530.00, a price-to-earnings ratio of 22.48, a P/E/G ratio of 2.06 and a beta of 0.60. Quest Diagnostics has a 52-week low of $90.10 and a 52-week high of $112.96. The company has a current ratio of 1.47, a quick ratio of 1.37 and a debt-to-equity ratio of 0.78.
In other news, SVP Catherine T. Doherty sold 21,294 shares of the company’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $104.00, for a total transaction of $2,214,576.00. Following the completion of the transaction, the senior vice president now directly owns 90,709 shares of the company’s stock, valued at approximately $9,433,736. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP J. E. Davis sold 63,880 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $98.68, for a total value of $6,303,678.40. Following the transaction, the executive vice president now directly owns 101,423 shares of the company’s stock, valued at $10,008,421.64. The disclosure for this sale can be found here. Corporate insiders own 1.75% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. PGGM Investments increased its position in shares of Quest Diagnostics by 41.7% during the fourth quarter. PGGM Investments now owns 505,900 shares of the medical research company’s stock worth $49,826,000 after purchasing an additional 148,959 shares in the last quarter. BTC Capital Management Inc. increased its position in shares of Quest Diagnostics by 2.8% during the fourth quarter. BTC Capital Management Inc. now owns 44,976 shares of the medical research company’s stock worth $4,427,000 after purchasing an additional 1,215 shares in the last quarter. Advisor Partners LLC increased its position in shares of Quest Diagnostics by 28.5% during the fourth quarter. Advisor Partners LLC now owns 3,115 shares of the medical research company’s stock worth $321,000 after purchasing an additional 691 shares in the last quarter. Commerzbank Aktiengesellschaft FI purchased a new stake in shares of Quest Diagnostics during the fourth quarter worth approximately $206,000. Finally, Sumitomo Mitsui Asset Management Company LTD increased its position in shares of Quest Diagnostics by 311.5% during the fourth quarter. Sumitomo Mitsui Asset Management Company LTD now owns 45,215 shares of the medical research company’s stock worth $4,453,000 after purchasing an additional 34,227 shares in the last quarter. 88.89% of the stock is owned by institutional investors and hedge funds.
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).
