Analysts Set Quest Diagnostics Incorporated (NYSE:DGX) PT at $185.07

Shares of Quest Diagnostics Incorporated (NYSE:DGX) have received an average rating of “Moderate Buy” from the sixteen research firms that are covering the stock, MarketBeat reports. Seven analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $185.07.

A number of analysts have issued reports on the company. Leerink Partnrs raised Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Redburn Atlantic started coverage on Quest Diagnostics in a report on Wednesday, April 2nd. They issued a “buy” rating and a $195.00 price objective for the company. UBS Group upped their price objective on shares of Quest Diagnostics from $166.00 to $170.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Truist Financial boosted their price target on shares of Quest Diagnostics from $182.00 to $190.00 and gave the company a “hold” rating in a research report on Wednesday, April 23rd. Finally, Robert W. Baird raised their price objective on shares of Quest Diagnostics from $191.00 to $194.00 and gave the stock an “outperform” rating in a report on Wednesday, April 23rd.

Quest Diagnostics Price Performance

Shares of NYSE:DGX opened at $177.52 on Friday. The company has a market capitalization of $19.82 billion, a P/E ratio of 23.08, a price-to-earnings-growth ratio of 2.16 and a beta of 0.52. The company’s 50-day moving average is $169.51 and its 200 day moving average is $162.36. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.02 and a current ratio of 1.10. Quest Diagnostics has a fifty-two week low of $135.35 and a fifty-two week high of $179.32.

Quest Diagnostics (NYSE:DGX) last released its earnings results on Tuesday, April 22nd. The medical research company reported $2.21 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.06. Quest Diagnostics had a net margin of 8.80% and a return on equity of 15.07%. The firm had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.63 billion. On average, equities research analysts forecast that Quest Diagnostics will post 9.7 earnings per share for the current year.

Insider Buying and Selling

In other Quest Diagnostics news, SVP Mark E. Delaney sold 403 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $164.30, for a total value of $66,212.90. Following the sale, the senior vice president now owns 4,624 shares of the company’s stock, valued at $759,723.20. This trade represents a 8.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Vicky B. Gregg sold 1,250 shares of Quest Diagnostics stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $164.57, for a total value of $205,712.50. Following the sale, the director now owns 16,867 shares of the company’s stock, valued at approximately $2,775,802.19. This trade represents a 6.90 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,903 shares of company stock worth $9,460,221. Corporate insiders own 8.16% of the company’s stock.

Institutional Trading of Quest Diagnostics

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased its stake in Quest Diagnostics by 42.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,490,278 shares of the medical research company’s stock valued at $828,265,000 after acquiring an additional 1,637,525 shares during the last quarter. Norges Bank purchased a new position in shares of Quest Diagnostics in the 4th quarter worth about $191,823,000. JPMorgan Chase & Co. increased its position in shares of Quest Diagnostics by 60.4% during the 4th quarter. JPMorgan Chase & Co. now owns 2,433,913 shares of the medical research company’s stock valued at $367,180,000 after purchasing an additional 916,898 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of Quest Diagnostics by 83.7% during the 4th quarter. Alliancebernstein L.P. now owns 1,093,042 shares of the medical research company’s stock valued at $164,896,000 after buying an additional 497,995 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Quest Diagnostics in the 4th quarter worth approximately $67,447,000. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Company Profile

Quest Diagnostics Incorporated provides diagnostic testing and services in the United States and internationally. The company develops and delivers diagnostic information services, such as routine, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.