Quest Diagnostics Incorporated (DGX) Upgraded to “Hold” at BidaskClub
BidaskClub upgraded shares of Quest Diagnostics Incorporated (NYSE:DGX) from a sell rating to a hold rating in a research note released on Tuesday.
Several other brokerages have also recently issued reports on DGX. Deutsche Bank AG restated a buy rating and issued a $115.00 price objective (up from $108.00) on shares of Quest Diagnostics in a research note on Sunday, April 23rd. Bank of America Corporation upgraded Quest Diagnostics from a neutral rating to a buy rating and raised their price objective for the stock from $111.00 to $118.00 in a research note on Tuesday, July 25th. Zacks Investment Research cut Quest Diagnostics from a buy rating to a hold rating in a research note on Monday, May 22nd. Raymond James Financial, Inc. upgraded Quest Diagnostics from a market perform rating to an outperform rating and set a $116.00 price objective for the company in a research note on Friday, April 21st. Finally, Evercore ISI restated an in-line rating and issued a $104.50 price objective (up from $102.00) on shares of Quest Diagnostics in a research note on Monday, April 24th. One analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $109.62.
Quest Diagnostics (NYSE DGX) opened at 104.87 on Tuesday. The company has a market cap of $14.30 billion, a PE ratio of 21.13 and a beta of 0.69. Quest Diagnostics has a 52 week low of $79.12 and a 52 week high of $112.96. The company has a 50-day moving average of $108.23 and a 200-day moving average of $103.54.
Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings data on Tuesday, July 25th. The medical research company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.13. Quest Diagnostics had a return on equity of 15.66% and a net margin of 9.28%. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period last year, the business posted $1.34 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, equities analysts expect that Quest Diagnostics will post $5.69 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 18th. Stockholders of record on Tuesday, October 3rd will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date is Monday, October 2nd. Quest Diagnostics’s dividend payout ratio (DPR) is presently 36.29%.
In other news, SVP Catherine T. Doherty sold 59,762 shares of the business’s stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $107.55, for a total value of $6,427,403.10. Following the completion of the sale, the senior vice president now directly owns 78,582 shares in the company, valued at $8,451,494.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey M. Leiden sold 296 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $106.66, for a total value of $31,571.36. Following the completion of the sale, the director now owns 6,000 shares of the company’s stock, valued at $639,960. The disclosure for this sale can be found here. Insiders sold 61,362 shares of company stock valued at $6,600,758 over the last 90 days. Company insiders own 1.50% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. WFG Advisors LP boosted its stake in Quest Diagnostics by 45.3% in the second quarter. WFG Advisors LP now owns 966 shares of the medical research company’s stock worth $107,000 after buying an additional 301 shares during the period. Sun Life Financial INC boosted its stake in Quest Diagnostics by 14,142.9% in the second quarter. Sun Life Financial INC now owns 997 shares of the medical research company’s stock worth $111,000 after buying an additional 990 shares during the period. YorkBridge Wealth Partners LLC boosted its stake in Quest Diagnostics by 1.5% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,188 shares of the medical research company’s stock worth $127,000 after buying an additional 18 shares during the period. Parallel Advisors LLC boosted its stake in Quest Diagnostics by 16.1% in the first quarter. Parallel Advisors LLC now owns 1,279 shares of the medical research company’s stock worth $137,000 after buying an additional 177 shares during the period. Finally, Advisors Capital Management LLC acquired a new stake in Quest Diagnostics during the first quarter worth approximately $164,000. Institutional investors and hedge funds own 90.06% 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 Diagnostic Information Services business develops and delivers diagnostic testing information and services, providing insights that empower and enable a range of customers, including patients, clinicians, hospitals, integrated delivery networks (IDNs), health plans, employers and accountable care organizations (ACOs).
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