Analysts Set Quest Diagnostics Inc (DGX) Target Price at $109.47

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Quest Diagnostics Inc (NYSE:DGX) has earned a consensus rating of “Hold” from the twenty-two ratings firms that are currently covering the company, MarketBeat reports. Twelve analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $109.47.

A number of brokerages recently issued reports on DGX. Barclays raised shares of Quest Diagnostics from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $120.00 to $130.00 in a research report on Monday, June 25th. Zacks Investment Research raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a research report on Tuesday, May 22nd. Robert W. Baird raised shares of Quest Diagnostics from a “neutral” rating to an “outperform” rating and set a $115.00 price target for the company in a research report on Tuesday, May 1st. Credit Suisse Group lifted their price target on shares of Quest Diagnostics from $118.00 to $121.00 and gave the company an “outperform” rating in a research report on Friday, May 25th. Finally, MED lowered shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Wednesday, June 27th.

Shares of NYSE DGX opened at $111.34 on Friday. Quest Diagnostics has a 1 year low of $90.10 and a 1 year high of $116.49. The stock has a market cap of $15.23 billion, a P/E ratio of 20.62, a price-to-earnings-growth ratio of 2.11 and a beta of 0.73. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.12 and a quick ratio of 1.05.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Tuesday, July 24th. The medical research company reported $1.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.01). Quest Diagnostics had a net margin of 10.56% and a return on equity of 15.45%. The business had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.95 billion. During the same period last year, the business earned $1.55 earnings per share. The company’s revenue was up 3.0% on a year-over-year basis. research analysts forecast that Quest Diagnostics will post 6.59 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 22nd. Shareholders of record on Friday, October 5th will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, October 4th. This represents a $2.00 dividend on an annualized basis and a yield of 1.80%. Quest Diagnostics’s dividend payout ratio is currently 37.04%.

In other news, Chairman Stephen H. Rusckowski sold 168,490 shares of Quest Diagnostics stock in a transaction that occurred on Friday, May 25th. The shares were sold at an average price of $107.00, for a total value of $18,028,430.00. Following the completion of the sale, the chairman now directly owns 359,559 shares in the company, valued at $38,472,813. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Everett Cunningham sold 68,069 shares of Quest Diagnostics stock in a transaction that occurred on Monday, July 2nd. The stock was sold at an average price of $109.67, for a total transaction of $7,465,127.23. Following the completion of the sale, the senior vice president now owns 67,210 shares of the company’s stock, valued at $7,370,920.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 340,064 shares of company stock valued at $36,688,570. 1.79% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in DGX. Wells Fargo & Company MN grew its stake in shares of Quest Diagnostics by 0.5% in the first quarter. Wells Fargo & Company MN now owns 1,571,810 shares of the medical research company’s stock worth $157,652,000 after acquiring an additional 7,141 shares during the period. Daiwa Securities Group Inc. boosted its holdings in shares of Quest Diagnostics by 15.3% in the first quarter. Daiwa Securities Group Inc. now owns 4,643 shares of the medical research company’s stock worth $466,000 after buying an additional 616 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH boosted its holdings in shares of Quest Diagnostics by 104.1% in the first quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 35,640 shares of the medical research company’s stock worth $3,531,000 after buying an additional 18,174 shares during the last quarter. Weybosset Research & Management LLC boosted its holdings in shares of Quest Diagnostics by 7.7% in the first quarter. Weybosset Research & Management LLC now owns 40,389 shares of the medical research company’s stock worth $4,051,000 after buying an additional 2,897 shares during the last quarter. Finally, Polaris Capital Management LLC boosted its holdings in shares of Quest Diagnostics by 44.5% in the first quarter. Polaris Capital Management LLC now owns 576,397 shares of the medical research company’s stock worth $57,813,000 after buying an additional 177,600 shares during the last quarter. Hedge funds and other institutional investors own 86.75% of the company’s stock.

About Quest Diagnostics

Quest Diagnostics Incorporated provides diagnostic testing information and services in the United States and internationally. The company's Diagnostic Information Services business segment develops and delivers diagnostic testing information and services, such as routine testing, non-routine and advanced clinical testing, gene-based and esoteric testing, anatomic pathology, and other diagnostic information services.

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Analyst Recommendations for Quest Diagnostics (NYSE:DGX)

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