Quest Diagnostics (NYSE:DGX) PT Raised to $145.00 at Citigroup

Quest Diagnostics (NYSE:DGX) had its price target raised by Citigroup from $135.00 to $145.00 in a research report sent to investors on Wednesday, Benzinga reports. Citigroup currently has a neutral rating on the medical research company’s stock.

DGX has been the topic of several other reports. Truist Financial increased their price target on shares of Quest Diagnostics from $145.00 to $150.00 and gave the stock a hold rating in a research report on Wednesday. StockNews.com downgraded shares of Quest Diagnostics from a buy rating to a hold rating in a research report on Wednesday, April 17th. Barclays started coverage on shares of Quest Diagnostics in a research report on Wednesday, January 3rd. They set an equal weight rating and a $145.00 price objective on the stock. Mizuho raised their price objective on shares of Quest Diagnostics from $150.00 to $155.00 and gave the company a buy rating in a research report on Wednesday. Finally, TheStreet downgraded shares of Quest Diagnostics from a b- rating to a c rating in a research report on Monday, February 5th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $146.17.

Quest Diagnostics Trading Down 0.9 %

Shares of DGX stock opened at $134.26 on Wednesday. Quest Diagnostics has a 12-month low of $119.59 and a 12-month high of $146.85. The company has a current ratio of 0.97, a quick ratio of 1.20 and a debt-to-equity ratio of 0.59. The firm’s 50 day moving average is $129.09 and its 200 day moving average is $131.17. The stock has a market capitalization of $14.91 billion, a P/E ratio of 18.07, a P/E/G ratio of 2.94 and a beta of 0.91.

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

Quest Diagnostics Increases Dividend

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

Insider Buying and Selling at Quest Diagnostics

In other Quest Diagnostics news, EVP Catherine T. Doherty sold 821 shares of Quest Diagnostics stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $126.14, for a total value 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 SEC, which is accessible through this hyperlink. In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 5,611 shares of Quest Diagnostics stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $125.88, for a total value of $706,312.68. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Catherine T. Doherty sold 821 shares of Quest Diagnostics stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $126.14, for a total transaction of $103,560.94. Following the completion of the transaction, the executive vice president now directly owns 70,800 shares of the company’s stock, valued at $8,930,712. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,150 shares of company stock worth $1,913,202. Insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Quest Diagnostics

Institutional investors and hedge funds have recently made changes to their positions in the business. Raymond James & Associates grew its stake in shares of Quest Diagnostics by 103.3% in the 4th quarter. Raymond James & Associates now owns 148,251 shares of the medical research company’s stock worth $20,441,000 after buying an additional 75,315 shares in the last quarter. CHURCHILL MANAGEMENT Corp purchased a new position in shares of Quest Diagnostics during the 4th quarter worth about $1,483,000. Wellington Management Group LLP boosted its stake in shares of Quest Diagnostics by 14.6% during the 3rd quarter. Wellington Management Group LLP now owns 2,613,793 shares of the medical research company’s stock worth $318,517,000 after purchasing an additional 333,947 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Quest Diagnostics by 201.5% during the 4th quarter. Pacer Advisors Inc. now owns 31,912 shares of the medical research company’s stock worth $4,400,000 after purchasing an additional 21,327 shares during the period. Finally, Strs Ohio boosted its stake in shares of Quest Diagnostics by 7.6% during the 4th quarter. Strs Ohio now owns 16,270 shares of the medical research company’s stock worth $2,243,000 after purchasing an additional 1,150 shares during the period. 88.06% of the stock is owned by hedge funds and other 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.