Quest Diagnostics (NYSE:DGX) Hits New 1-Year High – Time to Buy?

Quest Diagnostics Incorporated (NYSE:DGX)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $217.41 and last traded at $215.44, with a volume of 869149 shares. The stock had previously closed at $215.72.

Analyst Ratings Changes

DGX has been the subject of a number of analyst reports. Truist Financial boosted their price objective on shares of Quest Diagnostics from $220.00 to $225.00 and gave the company a “hold” rating in a research report on Wednesday, April 22nd. Barclays lifted their target price on shares of Quest Diagnostics from $225.00 to $230.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 22nd. Wall Street Zen downgraded Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Sunday, June 28th. Robert W. Baird increased their price target on Quest Diagnostics from $224.00 to $229.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 22nd. Finally, Jefferies Financial Group restated a “buy” rating and set a $225.00 price objective on shares of Quest Diagnostics in a report on Tuesday, April 21st. Seven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $216.58.

Quest Diagnostics Stock Performance

The firm has a market capitalization of $23.51 billion, a PE ratio of 23.47, a price-to-earnings-growth ratio of 2.54 and a beta of 0.58. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.08 and a current ratio of 1.18. The company’s fifty day moving average price is $198.02 and its two-hundred day moving average price is $194.50.

Quest Diagnostics (NYSE:DGX) last released its earnings results on Tuesday, April 21st. The medical research company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.13. Quest Diagnostics had a net margin of 9.07% and a return on equity of 15.60%. The firm had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.83 billion. During the same period in the previous year, the firm earned $1.94 earnings per share. Quest Diagnostics’s revenue was up 9.2% compared to the same quarter last year. Quest Diagnostics has set its FY 2026 guidance at 10.630-10.830 EPS. As a group, equities analysts expect that Quest Diagnostics Incorporated will post 10.72 earnings per share for the current year.

Quest Diagnostics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 8th will be issued a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Wednesday, July 8th. Quest Diagnostics’s dividend payout ratio is presently 38.01%.

Insiders Place Their Bets

In related news, CEO J. E. Davis sold 10,000 shares of Quest Diagnostics stock in a transaction on Monday, June 1st. The stock was sold at an average price of $194.14, for a total value of $1,941,400.00. Following the transaction, the chief executive officer owned 132,423 shares in the company, valued at approximately $25,708,601.22. This trade represents a 7.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Karthik Kuppusamy sold 8,147 shares of the company’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $200.00, for a total value of $1,629,400.00. Following the sale, the senior vice president owned 13,510 shares of the company’s stock, valued at $2,702,000. This represents a 37.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.88% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Brighton Jones LLC purchased a new position in shares of Quest Diagnostics in the 4th quarter valued at $323,000. Cresset Asset Management LLC boosted its position in Quest Diagnostics by 4.6% during the 2nd quarter. Cresset Asset Management LLC now owns 4,003 shares of the medical research company’s stock worth $719,000 after purchasing an additional 176 shares during the period. Gabelli Funds LLC acquired a new stake in Quest Diagnostics in the 2nd quarter valued at $287,000. Bank of Nova Scotia increased its holdings in Quest Diagnostics by 7.2% in the 2nd quarter. Bank of Nova Scotia now owns 14,339 shares of the medical research company’s stock valued at $2,576,000 after purchasing an additional 962 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its position in Quest Diagnostics by 17.1% in the second quarter. Daiwa Securities Group Inc. now owns 18,599 shares of the medical research company’s stock valued at $3,341,000 after purchasing an additional 2,718 shares during the period. 88.06% of the stock is owned by institutional investors and hedge funds.

About Quest Diagnostics

Quest Diagnostics (NYSE: DGX) is a leading provider of diagnostic information services that supports clinical decision-making for patients, physicians and healthcare organizations. The company operates a network of clinical laboratories and patient service centers that perform a broad range of laboratory tests and diagnostic assays used in routine care, disease diagnosis, monitoring and screening.

Its services span core clinical laboratory testing, anatomic pathology, molecular and genomic diagnostics, infectious disease testing and toxicology.