Quest Diagnostics (NYSE:DGX) Cut to Hold at StockNews.com

Quest Diagnostics (NYSE:DGX) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Other research analysts have also issued research reports about the stock. Jefferies Financial Group raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating and raised their price objective for the company from $140.00 to $155.00 in a research note on Wednesday, February 7th. TheStreet downgraded shares of Quest Diagnostics from a “b-” rating to a “c” rating in a research note on Monday, February 5th. Leerink Partnrs reissued a “market perform” rating on shares of Quest Diagnostics in a report on Monday, February 26th. SVB Leerink began coverage on shares of Quest Diagnostics in a report on Monday, February 26th. They set a “market perform” rating and a $135.00 price objective on the stock. Finally, Barclays began coverage on shares of Quest Diagnostics in a report on Wednesday, January 3rd. They set an “equal weight” rating and a $145.00 price objective on the stock. Ten analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $144.18.

Quest Diagnostics Trading Down 0.8 %

Shares of DGX stock opened at $125.92 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.31 and a quick ratio of 1.20. The firm has a market cap of $13.98 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 2.75 and a beta of 0.91. The company has a 50-day moving average of $128.28 and a two-hundred day moving average of $130.72. Quest Diagnostics has a 1-year low of $119.59 and a 1-year high of $148.62.

Quest Diagnostics (NYSE:DGX) last announced its earnings results on Thursday, February 1st. The medical research company reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.11 by $0.04. The company had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.25 billion. Quest Diagnostics had a net margin of 9.23% and a return on equity of 15.79%. Quest Diagnostics’s revenue was down 1.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.98 earnings per share. On average, analysts predict that Quest Diagnostics will post 8.75 EPS for the current year.

Insider Buying and Selling at Quest Diagnostics

In other Quest Diagnostics news, Director Vicky B. Gregg sold 2,500 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $126.64, for a total value of $316,600.00. Following the transaction, the director now directly owns 16,329 shares of the company’s stock, valued at approximately $2,067,904.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Quest Diagnostics news, EVP Catherine T. Doherty sold 821 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $126.14, for a total transaction of $103,560.94. Following the sale, the executive vice president now directly owns 70,800 shares in the company, valued at approximately $8,930,712. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Vicky B. Gregg sold 2,500 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $126.64, for a total transaction of $316,600.00. Following the completion of the sale, the director now owns 16,329 shares in the company, valued at $2,067,904.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,150 shares of company stock valued at $1,913,202. 0.79% of the stock is owned by company insiders.

Institutional Investors Weigh In On Quest Diagnostics

Institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its stake in Quest Diagnostics by 380.0% in the 1st quarter. JPMorgan Chase & Co. now owns 1,458,224 shares of the medical research company’s stock valued at $206,310,000 after purchasing an additional 1,154,403 shares during the last quarter. Norges Bank purchased a new position in Quest Diagnostics in the 4th quarter worth approximately $140,472,000. Price T Rowe Associates Inc. MD boosted its holdings in Quest Diagnostics by 548.7% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,125,530 shares of the medical research company’s stock worth $149,673,000 after acquiring an additional 952,037 shares during the period. Vanguard Group Inc. boosted its holdings in Quest Diagnostics by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 14,014,030 shares of the medical research company’s stock worth $1,917,961,000 after acquiring an additional 636,301 shares during the period. Finally, Nuance Investments LLC purchased a new position in Quest Diagnostics in the 4th quarter worth approximately $83,070,000. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

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.