Quest Diagnostics Incorporated (DGX) PT Set at $105.00 by SunTrust Banks, Inc.
Quest Diagnostics Incorporated (NYSE:DGX) has been given a $105.00 price target by research analysts at SunTrust Banks, Inc. in a report issued on Sunday. The brokerage presently has a “hold” rating on the medical research company’s stock. SunTrust Banks, Inc.’s price target suggests a potential upside of 14.72% from the company’s current price. SunTrust Banks also issued estimates for Quest Diagnostics’ Q3 2017 earnings at $1.34 EPS and FY2017 earnings at $5.61 EPS.
Several other analysts also recently weighed in on the stock. Wells Fargo & Company began coverage on shares of Quest Diagnostics in a research report on Thursday, October 12th. They set a “market perform” rating and a $88.00 price objective for the company. Goldman Sachs Group, Inc. (The) downgraded shares of Quest Diagnostics from a “conviction-buy” rating to a “buy” rating and reduced their price objective for the stock from $121.00 to $113.00 in a research report on Tuesday, October 10th. Zacks Investment Research downgraded shares of Quest Diagnostics from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Credit Suisse Group reduced their price objective on shares of Quest Diagnostics from $110.00 to $99.00 and set a “neutral” rating for the company in a research report on Thursday, September 28th. Finally, ValuEngine downgraded shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $108.86.
Quest Diagnostics (NYSE:DGX) opened at 91.53 on Friday. The firm’s 50-day moving average is $99.98 and its 200-day moving average is $104.83. The firm has a market cap of $12.49 billion, a price-to-earnings ratio of 18.45 and a beta of 0.66. Quest Diagnostics has a 52 week low of $79.12 and a 52 week high of $112.97.
Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Tuesday, July 25th. The medical research company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.13. Quest Diagnostics had a net margin of 9.28% and a return on equity of 15.66%. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the firm earned $1.34 earnings per share. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. On average, equities analysts anticipate that Quest Diagnostics will post $5.64 earnings per share for the current year.
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In other Quest Diagnostics news, CEO Stephen H. Rusckowski sold 53,933 shares of the business’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $108.16, for a total value of $5,833,393.28. Following the transaction, the chief executive officer now directly owns 220,049 shares of the company’s stock, valued at approximately $23,800,499.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey M. Leiden sold 296 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $106.66, for a total transaction of $31,571.36. Following the completion of the transaction, the director now directly owns 6,000 shares in the company, valued at $639,960. The disclosure for this sale can be found here. Insiders sold a total of 161,996 shares of company stock worth $17,517,207 over the last ninety days. Corporate insiders own 1.75% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Meeder Asset Management Inc. increased its stake in Quest Diagnostics by 55.9% in the 2nd quarter. Meeder Asset Management Inc. now owns 34,817 shares of the medical research company’s stock valued at $3,870,000 after buying an additional 12,478 shares during the period. Bank of America Corp DE increased its stake in Quest Diagnostics by 0.6% in the 1st quarter. Bank of America Corp DE now owns 1,887,303 shares of the medical research company’s stock valued at $185,315,000 after buying an additional 11,399 shares during the period. Schwab Charles Investment Management Inc. increased its stake in Quest Diagnostics by 4.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 487,316 shares of the medical research company’s stock valued at $54,171,000 after buying an additional 18,968 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in Quest Diagnostics by 12.7% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 33,104 shares of the medical research company’s stock valued at $3,680,000 after buying an additional 3,719 shares during the period. Finally, Alliancebernstein L.P. increased its stake in Quest Diagnostics by 76.1% in the 2nd quarter. Alliancebernstein L.P. now owns 1,144,504 shares of the medical research company’s stock valued at $127,223,000 after buying an additional 494,535 shares during the period. 86.99% of the stock is currently owned by institutional investors.
Quest Diagnostics Company Profile
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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