StockNews.com upgraded shares of Quest Diagnostics (NYSE:DGX – Get Rating) from a hold rating to a buy rating in a research report report published on Tuesday morning.
Separately, Morgan Stanley reiterated an equal weight rating and issued a $142.00 price target on shares of Quest Diagnostics in a report on Monday, August 22nd. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $148.50.
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Quest Diagnostics Trading Down 1.5 %
Shares of DGX opened at $122.69 on Tuesday. The company has a current ratio of 1.54, a quick ratio of 1.42 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $14.31 billion, a P/E ratio of 10.41 and a beta of 1.01. The stock's fifty day simple moving average is $130.82 and its 200 day simple moving average is $134.90. Quest Diagnostics has a twelve month low of $120.40 and a twelve month high of $174.16.
Quest Diagnostics (NYSE:DGX – Get Rating) last announced its quarterly earnings results on Thursday, July 21st. The medical research company reported $2.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.10. Quest Diagnostics had a return on equity of 24.62% and a net
margin of 14.02%. The firm had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same period in the prior year, the firm earned $3.18 EPS. The firm's quarterly revenue was down 3.8% compared to the same quarter last year. On average, equities research analysts forecast that Quest Diagnostics will post 9.68 earnings per share for the current year.
Quest Diagnostics Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 19th. Shareholders of record on Tuesday, October 4th will be issued a $0.66 dividend. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $2.64 dividend on an annualized basis and a yield of 2.15%. Quest Diagnostics's dividend payout ratio is currently 21.96%.
Insiders Place Their Bets
In other news, Director Timothy M. Ring sold 2,000 shares of Quest Diagnostics stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $136.04, for a total transaction of $272,080.00. Following the sale, the director now owns 23,933 shares of the company's stock, valued at $3,255,845.32. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.70% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Quest Diagnostics
Hedge funds have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Quest Diagnostics by 5.8% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 11,867 shares of the medical research company's stock valued at $1,624,000 after buying an additional 654 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in Quest Diagnostics during the first quarter worth approximately $524,000. NorthCrest Asset Manangement LLC raised its holdings in Quest Diagnostics by 515.2% during the second quarter. NorthCrest Asset Manangement LLC now owns 16,013 shares of the medical research company's stock worth $2,129,000 after purchasing an additional 13,410 shares in the last quarter. Argent Trust Co raised its holdings in Quest Diagnostics by 1.4% during the first quarter. Argent Trust Co now owns 27,237 shares of the medical research company's stock worth $3,728,000 after purchasing an additional 374 shares in the last quarter. Finally, Pinebridge Investments L.P. raised its holdings in Quest Diagnostics by 480.4% during the first quarter. Pinebridge Investments L.P. now owns 98,916 shares of the medical research company's stock worth $13,538,000 after purchasing an additional 81,873 shares in the last quarter. Institutional investors own 88.87% of the company's stock.
About Quest Diagnostics
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Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic information services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.
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