Barclays Boosts Quest Diagnostics (NYSE:DGX) Price Target to $144.00

Quest Diagnostics (NYSE:DGX) had its price objective upped by Barclays from $138.00 to $144.00 in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has an equal weight rating on the medical research company’s stock.

A number of other research firms also recently issued reports on DGX. UBS Group lifted their target price on Quest Diagnostics from $139.00 to $146.00 and gave the company a neutral rating in a research report on Wednesday, April 24th. Leerink Partnrs reaffirmed a market perform rating on shares of Quest Diagnostics in a report on Monday, February 26th. TheStreet cut Quest Diagnostics from a b- rating to a c rating in a research note on Monday, February 5th. Truist Financial upped their target price on Quest Diagnostics from $145.00 to $150.00 and gave the company a hold rating in a research report on Wednesday, April 24th. Finally, Jefferies Financial Group upgraded Quest Diagnostics from a hold rating to a buy rating and boosted their price target for the company from $140.00 to $155.00 in a research note on Wednesday, February 7th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Hold and an average target price of $146.17.

Quest Diagnostics Stock Down 0.9 %

Shares of DGX stock opened at $134.26 on Thursday. Quest Diagnostics has a 12-month low of $119.59 and a 12-month high of $146.85. The company has a quick ratio of 1.20, a current ratio of 0.97 and a debt-to-equity ratio of 0.59. The firm has a fifty day moving average of $129.09 and a 200-day moving average of $131.29. The company has a market capitalization of $14.91 billion, a price-to-earnings ratio of 18.07, a P/E/G ratio of 2.92 and a beta of 0.91.

Quest Diagnostics (NYSE:DGX) last released its earnings results on Tuesday, April 23rd. The medical research company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.18. The firm had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.29 billion. Quest Diagnostics had a return on equity of 15.52% and a net margin of 9.11%. The company’s revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.04 EPS. As a group, equities research analysts predict that Quest Diagnostics will post 8.78 earnings per share for the current fiscal year.

Quest Diagnostics Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were given a $0.75 dividend. The ex-dividend date of this dividend was Friday, April 5th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.23%. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.71. Quest Diagnostics’s dividend payout ratio (DPR) is presently 38.22%.

Insider Buying and Selling

In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 5,611 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $125.88, for a total value of $706,312.68. Following the transaction, the senior vice president now directly owns 38,478 shares of the company’s stock, valued at approximately $4,843,610.64. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Vicky B. Gregg sold 2,500 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $126.64, for a total value of $316,600.00. Following the sale, the director now directly owns 16,329 shares of the company’s stock, valued at $2,067,904.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael E. Prevoznik sold 5,611 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $125.88, for a total value of $706,312.68. Following the transaction, the senior vice president now directly owns 38,478 shares of the company’s stock, valued at approximately $4,843,610.64. The disclosure for this sale can be found here. Insiders sold 15,150 shares of company stock valued at $1,913,202 over the last quarter. 0.79% of the stock is owned by company insiders.

Institutional Investors Weigh In On Quest Diagnostics

Several hedge funds and other institutional investors have recently made changes to their positions in DGX. Czech National Bank boosted its position in Quest Diagnostics by 0.4% in the fourth quarter. Czech National Bank now owns 19,692 shares of the medical research company’s stock valued at $2,715,000 after buying an additional 75 shares in the last quarter. Mendota Financial Group LLC increased its holdings in Quest Diagnostics by 6.2% in the 4th quarter. Mendota Financial Group LLC now owns 1,296 shares of the medical research company’s stock worth $179,000 after purchasing an additional 76 shares in the last quarter. Exchange Traded Concepts LLC raised its position in Quest Diagnostics by 1.9% in the third quarter. Exchange Traded Concepts LLC now owns 4,417 shares of the medical research company’s stock valued at $538,000 after purchasing an additional 84 shares during the last quarter. Montecito Bank & Trust boosted its stake in shares of Quest Diagnostics by 4.7% during the fourth quarter. Montecito Bank & Trust now owns 1,909 shares of the medical research company’s stock valued at $263,000 after purchasing an additional 85 shares in the last quarter. Finally, Naples Global Advisors LLC grew its holdings in shares of Quest Diagnostics by 1.5% during the fourth quarter. Naples Global Advisors LLC now owns 6,171 shares of the medical research company’s stock worth $851,000 after purchasing an additional 90 shares during the last quarter. 88.06% of the stock is owned by institutional investors.

About Quest Diagnostics

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.