Brokerages Set Quest Diagnostics Incorporated (NYSE:DGX) PT at $177.69

Quest Diagnostics Incorporated (NYSE:DGX) has been given an average rating of “Moderate Buy” by the fifteen brokerages that are presently covering the company, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $178.23.

Several research analysts recently commented on the company. Leerink Partnrs raised Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Truist Financial increased their price objective on Quest Diagnostics from $172.00 to $182.00 and gave the company a “hold” rating in a report on Friday, January 31st. Robert W. Baird set a $189.00 target price on shares of Quest Diagnostics in a report on Friday, January 31st. Jefferies Financial Group reiterated a “buy” rating and issued a $185.00 price target (up previously from $175.00) on shares of Quest Diagnostics in a research note on Tuesday, December 10th. Finally, UBS Group lifted their price objective on shares of Quest Diagnostics from $166.00 to $170.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd.

Quest Diagnostics Price Performance

Shares of DGX opened at $172.44 on Monday. The company has a 50 day moving average of $157.56 and a 200-day moving average of $156.00. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $19.25 billion, a P/E ratio of 22.42, a P/E/G ratio of 2.16 and a beta of 0.91. Quest Diagnostics has a twelve month low of $123.66 and a twelve month high of $172.91.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Thursday, January 30th. The medical research company reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.19 by $0.04. Quest Diagnostics had a net margin of 8.80% and a return on equity of 15.07%. As a group, equities research analysts forecast that Quest Diagnostics will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be given a $0.80 dividend. This is an increase from Quest Diagnostics’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.20 annualized dividend and a dividend yield of 1.86%. Quest Diagnostics’s dividend payout ratio is presently 39.01%.

Insider Transactions at Quest Diagnostics

In related news, Director Vicky B. Gregg sold 1,250 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $164.57, for a total transaction of $205,712.50. Following the transaction, the director now directly owns 16,867 shares of the company’s stock, valued at approximately $2,775,802.19. This trade represents a 6.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Mark E. Delaney sold 403 shares of Quest Diagnostics stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $164.30, for a total transaction of $66,212.90. Following the completion of the sale, the senior vice president now owns 4,624 shares of the company’s stock, valued at $759,723.20. This trade represents a 8.02 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,792 shares of company stock worth $465,998. Company insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Sierra Ocean LLC acquired a new position in Quest Diagnostics in the 4th quarter valued at $33,000. Versant Capital Management Inc increased its position in shares of Quest Diagnostics by 340.4% in the fourth quarter. Versant Capital Management Inc now owns 251 shares of the medical research company’s stock worth $38,000 after purchasing an additional 194 shares during the period. First Financial Corp IN bought a new position in shares of Quest Diagnostics in the fourth quarter worth $38,000. FPC Investment Advisory Inc. acquired a new position in Quest Diagnostics in the fourth quarter valued at about $45,000. Finally, Global Trust Asset Management LLC bought a new stake in Quest Diagnostics during the fourth quarter worth about $49,000. 88.06% of the stock is owned by institutional investors.

About Quest Diagnostics

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.