Quest Diagnostics Inc. (DGX) Given a $85.00 Price Target by Barclays PLC Analysts
Quest Diagnostics Inc. (NYSE:DGX) has been assigned a $85.00 price target by investment analysts at Barclays PLC in a note issued to investors on Monday. The brokerage presently has a a “hold” rating on the stock. Barclays PLC’s target price suggests a potential downside of 0.23% from the stock’s previous close.
Other equities research analysts also recently issued research reports about the company. Zacks Investment Research raised Quest Diagnostics from a “hold” rating to a “buy” rating and set a $93.00 price target for the company in a report on Wednesday, September 21st. Canaccord Genuity set a $90.00 price target on Quest Diagnostics and gave the company a “buy” rating in a report on Wednesday, September 14th. Evercore ISI reaffirmed a “hold” rating and set a $89.50 price target (up previously from $78.50) on shares of Quest Diagnostics in a report on Sunday, July 24th. Jefferies Group raised their price target on Quest Diagnostics from $75.00 to $86.00 and gave the company a “hold” rating in a report on Friday, July 22nd. Finally, Mizuho raised their price target on Quest Diagnostics from $86.00 to $88.00 and gave the company a “neutral” rating in a report on Friday, October 21st. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $83.14.
Shares of Quest Diagnostics (NYSE:DGX) opened at 85.20 on Monday. The firm has a market cap of $11.81 billion, a P/E ratio of 18.08 and a beta of 0.62. Quest Diagnostics has a 52 week low of $59.66 and a 52 week high of $86.85. The stock has a 50 day moving average of $82.97 and a 200 day moving average of $81.40.
Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings results on Thursday, October 20th. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.02. Quest Diagnostics had a return on equity of 14.57% and a net margin of 9.01%. The business earned $1.89 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter last year, the firm posted $1.28 EPS. The company’s quarterly revenue was up .3% on a year-over-year basis. Analysts anticipate that Quest Diagnostics will post $5.10 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 25th. Shareholders of record on Tuesday, January 10th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.11%. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.40. Quest Diagnostics’s payout ratio is currently 34.04%.
In other Quest Diagnostics news, Director Jenne K. Britell sold 4,000 shares of Quest Diagnostics stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $84.76, for a total value of $339,040.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.50% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc boosted its position in Quest Diagnostics by 2.0% in the first quarter. Legal & General Group Plc now owns 716,279 shares of the company’s stock worth $51,184,000 after buying an additional 13,937 shares in the last quarter. Candriam Luxembourg S.C.A. boosted its position in Quest Diagnostics by 47.2% in the second quarter. Candriam Luxembourg S.C.A. now owns 217,486 shares of the company’s stock worth $17,706,000 after buying an additional 69,734 shares in the last quarter. Wedge Capital Management L L P NC raised its stake in shares of Quest Diagnostics by 3,976.9% in the second quarter. Wedge Capital Management L L P NC now owns 579,537 shares of the company’s stock worth $13,399,000 after buying an additional 565,322 shares during the last quarter. 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 last quarter. Finally, Everence Capital Management Inc. purchased a new stake in shares of Quest Diagnostics during the second quarter worth approximately $309,000. Hedge funds and other 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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