Quest Diagnostics Inc. (DGX) PT Set at $90.00 by Canaccord Genuity
Quest Diagnostics Inc. (NYSE:DGX) has been given a $90.00 target price by Canaccord Genuity in a research report issued to clients and investors on Monday. The firm currently has a a “buy” rating on the stock. Canaccord Genuity’s price objective would indicate a potential upside of 5.76% from the stock’s current price.
DGX has been the topic of several other research reports. Barclays PLC set a $85.00 target price on shares of Quest Diagnostics and gave the stock a “hold” rating in a research note on Monday. Bank of America Corp. reaffirmed a “sell” rating and set a $78.00 target price on shares of Quest Diagnostics in a research note on Monday. Mizuho lifted their target price on shares of Quest Diagnostics from $86.00 to $88.00 and gave the stock a “neutral” rating in a research note on Friday, October 21st. Jefferies Group lifted their target price on shares of Quest Diagnostics from $75.00 to $86.00 and gave the stock a “hold” rating in a research note on Friday, July 22nd. Finally, Zacks Investment Research raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a research note on Friday, July 22nd. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $83.14.
Shares of Quest Diagnostics (NYSE:DGX) opened at 85.10 on Monday. Quest Diagnostics has a 12 month low of $59.66 and a 12 month high of $86.85. The company has a market cap of $11.80 billion, a PE ratio of 18.06 and a beta of 0.62. The firm’s 50-day moving average is $82.97 and its 200-day moving average is $81.40.
Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Thursday, October 20th. The company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.35 by $0.02. The company earned $1.89 billion during the quarter, compared to analyst estimates of $1.53 billion. Quest Diagnostics had a net margin of 9.01% and a return on equity of 14.57%. The firm’s revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.28 EPS. On average, equities research analysts predict that Quest Diagnostics will post $5.10 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 25th. Shareholders of record on Tuesday, January 10th will be paid a dividend of $0.45 per share. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 2.12%. Quest Diagnostics’s dividend payout ratio is 34.04%.
In other Quest Diagnostics news, Director Jenne K. Britell sold 4,000 shares of the business’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $84.76, for a total transaction of $339,040.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.50% of the company’s stock.
A number of hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. raised its stake in shares of Quest Diagnostics by 15,646.3% in the second quarter. Victory Capital Management Inc. now owns 1,258,760 shares of the company’s stock worth $102,476,000 after buying an additional 1,250,766 shares during the period. American Century Companies Inc. raised its stake in shares of Quest Diagnostics by 27.7% in the second quarter. American Century Companies Inc. now owns 4,717,816 shares of the company’s stock worth $384,077,000 after buying an additional 1,022,240 shares during the period. Schroder Investment Management Group raised its stake in shares of Quest Diagnostics by 63.6% in the second quarter. Schroder Investment Management Group now owns 2,521,800 shares of the company’s stock worth $205,300,000 after buying an additional 980,063 shares during the period. Acadian Asset Management LLC raised its stake in shares of Quest Diagnostics by 12,923.1% in the second quarter. Acadian Asset Management LLC now owns 726,820 shares of the company’s stock worth $59,167,000 after buying an additional 721,239 shares during the period. Finally, Bridgeway Capital Management Inc. acquired a new stake in shares of Quest Diagnostics during the second quarter worth about $48,504,000. Institutional investors own 90.86% of the company’s stock.
About Quest Diagnostics
Quest Diagnostics Incorporated is a provider of diagnostic information services. The Company operates through two businesses: Diagnostic Information Services and Diagnostic Solutions. The Company’s Diagnostic Information Services business develops and delivers diagnostic testing information and services to patients, physicians, health plans, hospitals, accountable care organizations (ACOs), integrated delivery networks (IDNs), other commercial laboratories, employers and others.
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