Quest Diagnostics (NYSE:DGX) Upgraded to Strong-Buy by Baird R W

Baird R W upgraded shares of Quest Diagnostics (NYSE:DGX) from a hold rating to a strong-buy rating in a research note published on Wednesday, Zacks.com reports.

Several other research analysts also recently issued reports on the stock. Evercore ISI began coverage on shares of Quest Diagnostics in a report on Wednesday, August 28th. They set an “in-line” rating and a $165.00 price target for the company. Robert W. Baird upgraded Quest Diagnostics from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $157.00 to $182.00 in a report on Wednesday. StockNews.com lowered shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Wednesday. Truist Financial boosted their target price on shares of Quest Diagnostics from $158.00 to $165.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Finally, Barclays raised their price target on shares of Quest Diagnostics from $154.00 to $168.00 and gave the company an “equal weight” rating in a research note on Wednesday. Nine investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $161.75.

Quest Diagnostics Trading Down 0.2 %

Shares of DGX opened at $157.12 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.91 and a current ratio of 1.00. Quest Diagnostics has a 52-week low of $120.87 and a 52-week high of $159.94. The firm has a market cap of $17.45 billion, a price-to-earnings ratio of 21.15, a PEG ratio of 2.45 and a beta of 0.89. The business’s fifty day moving average is $152.88 and its 200-day moving average is $144.48.

Quest Diagnostics (NYSE:DGX) last issued its earnings results on Tuesday, October 22nd. The medical research company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.26 by $0.04. Quest Diagnostics had a return on equity of 15.35% and a net margin of 8.99%. The firm had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the previous year, the firm earned $2.22 earnings per share. The business’s quarterly revenue was up 8.5% on a year-over-year basis. Equities analysts anticipate that Quest Diagnostics will post 8.89 EPS for the current fiscal year.

Quest Diagnostics Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Friday, October 4th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend was Friday, October 4th. Quest Diagnostics’s payout ratio is 40.38%.

Insider Transactions at Quest Diagnostics

In related news, SVP Karthik Kuppusamy sold 1,990 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $153.26, for a total transaction of $304,987.40. Following the transaction, the senior vice president now owns 11,459 shares in the company, valued at $1,756,206.34. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Quest Diagnostics

A number of hedge funds have recently added to or reduced their stakes in DGX. Legacy Financial Advisors Inc. grew its position in Quest Diagnostics by 1.6% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 4,697 shares of the medical research company’s stock valued at $643,000 after purchasing an additional 72 shares during the period. New England Capital Financial Advisors LLC increased its position in shares of Quest Diagnostics by 24.7% during the first quarter. New England Capital Financial Advisors LLC now owns 389 shares of the medical research company’s stock worth $52,000 after acquiring an additional 77 shares in the last quarter. Meeder Advisory Services Inc. raised its holdings in shares of Quest Diagnostics by 4.9% in the 2nd quarter. Meeder Advisory Services Inc. now owns 1,795 shares of the medical research company’s stock worth $246,000 after acquiring an additional 84 shares during the last quarter. Keudell Morrison Wealth Management raised its holdings in shares of Quest Diagnostics by 3.8% in the 1st quarter. Keudell Morrison Wealth Management now owns 2,312 shares of the medical research company’s stock worth $308,000 after acquiring an additional 85 shares during the last quarter. Finally, Arjuna Capital boosted its stake in Quest Diagnostics by 5.2% during the 1st quarter. Arjuna Capital now owns 1,770 shares of the medical research company’s stock valued at $236,000 after purchasing an additional 88 shares during the last quarter. Institutional investors and hedge funds own 88.06% of the company’s stock.

Quest Diagnostics Company Profile

Quest Diagnostics Incorporated provides diagnostic testing and services in the United States and internationally. The company develops and delivers diagnostic information services, such as routine, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.