Quest Diagnostics Incorporated (DGX) Downgraded to Buy at Goldman Sachs Group, Inc. (The)
Goldman Sachs Group, Inc. (The) lowered shares of Quest Diagnostics Incorporated (NYSE:DGX) from a conviction-buy rating to a buy rating in a report released on Tuesday morning. They currently have $113.00 target price on the medical research company’s stock, down from their previous target price of $121.00.
DGX has been the subject of several other research reports. ValuEngine raised shares of Quest Diagnostics from a hold rating to a buy rating in a research report on Friday, September 1st. Zacks Investment Research downgraded shares of Quest Diagnostics from a buy rating to a hold rating in a research report on Thursday, August 3rd. BidaskClub downgraded shares of Quest Diagnostics from a buy rating to a hold rating in a research report on Monday, July 24th. Credit Suisse Group reaffirmed a neutral rating and set a $110.00 price objective (up previously from $83.00) on shares of Quest Diagnostics in a research report on Thursday, July 13th. They noted that the move was a valuation call. Finally, Raymond James Financial, Inc. reaffirmed a market perform rating on shares of Quest Diagnostics in a research report on Monday, September 25th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $110.41.
Shares of Quest Diagnostics (NYSE DGX) traded up 0.53% on Tuesday, reaching $91.34. 187,475 shares of the company were exchanged. The company has a market cap of $12.46 billion, a price-to-earnings ratio of 18.42 and a beta of 0.65. The company’s 50-day moving average price is $101.50 and its 200 day moving average price is $104.98. Quest Diagnostics has a 12 month low of $79.12 and a 12 month high of $112.96.
Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings data on Tuesday, July 25th. The medical research company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.42 by $0.13. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. Quest Diagnostics had a net margin of 9.28% and a return on equity of 15.66%. The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.34 EPS. On average, equities research analysts expect that Quest Diagnostics will post $5.66 EPS for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 18th. Investors of record on Tuesday, October 3rd will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.98%. The ex-dividend date is Monday, October 2nd. Quest Diagnostics’s payout ratio is currently 36.29%.
In other Quest Diagnostics news, Chairman Stephen H. Rusckowski sold 2,525 shares of the firm’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $108.03, for a total transaction of $272,775.75. Following the transaction, the chairman now directly owns 168,413 shares in the company, valued at approximately $18,193,656.39. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jeffrey M. Leiden sold 1,304 shares of the firm’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $108.73, for a total value of $141,783.92. Following the transaction, the director now owns 6,296 shares in the company, valued at $684,564.08. The disclosure for this sale can be found here. In the last three months, insiders sold 161,996 shares of company stock valued at $17,517,207. 1.75% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the business. WFG Advisors LP lifted its stake in Quest Diagnostics by 45.3% during the 2nd quarter. WFG Advisors LP now owns 966 shares of the medical research company’s stock valued at $107,000 after acquiring an additional 301 shares in the last quarter. Sun Life Financial INC lifted its stake in Quest Diagnostics by 14,142.9% during the 2nd quarter. Sun Life Financial INC now owns 997 shares of the medical research company’s stock valued at $111,000 after acquiring an additional 990 shares in the last quarter. Parallel Advisors LLC lifted its stake in Quest Diagnostics by 16.1% during the 1st quarter. Parallel Advisors LLC now owns 1,279 shares of the medical research company’s stock valued at $137,000 after acquiring an additional 177 shares in the last quarter. Acrospire Investment Management LLC lifted its stake in Quest Diagnostics by 300.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,600 shares of the medical research company’s stock valued at $178,000 after acquiring an additional 1,200 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in Quest Diagnostics during the 2nd quarter valued at $180,000. Institutional investors and hedge funds own 87.10% 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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