Quest Diagnostics (NYSE:DGX) Given New $166.00 Price Target at UBS Group

Quest Diagnostics (NYSE:DGX) had its price target upped by UBS Group from $165.00 to $166.00 in a research note published on Wednesday morning, Benzinga reports. They currently have a neutral rating on the medical research company’s stock.

A number of other research analysts have also commented on the company. Truist Financial increased their price objective on Quest Diagnostics from $158.00 to $165.00 and gave the company a “hold” rating in a research report on Monday, October 7th. Barclays lifted their price objective on Quest Diagnostics from $154.00 to $168.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Piper Sandler upped their target price on shares of Quest Diagnostics from $145.00 to $150.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Evercore ISI assumed coverage on shares of Quest Diagnostics in a research report on Wednesday, August 28th. They set an “in-line” rating and a $165.00 price target for the company. Finally, StockNews.com upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Nine investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Quest Diagnostics currently has an average rating of “Hold” and a consensus target price of $163.33.

Quest Diagnostics Stock Performance

Shares of NYSE:DGX opened at $155.04 on Wednesday. The business has a fifty day moving average of $153.12 and a 200-day moving average of $144.75. 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 twelve month low of $123.04 and a twelve month high of $160.95. The firm has a market cap of $17.22 billion, a PE ratio of 20.87, a price-to-earnings-growth ratio of 2.45 and a beta of 0.89.

Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings data on Tuesday, October 22nd. The medical research company reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.04. Quest Diagnostics had a net margin of 8.99% and a return on equity of 15.35%. The firm had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter last year, the company posted $2.22 EPS. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. On average, equities research analysts predict that Quest Diagnostics will post 8.89 EPS for the current fiscal year.

Quest Diagnostics Dividend Announcement

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 $0.75 dividend. The ex-dividend date was Friday, October 4th. This represents a $3.00 annualized dividend and a dividend yield of 1.93%. Quest Diagnostics’s dividend payout ratio (DPR) is currently 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 that occurred on Wednesday, August 28th. The stock was sold at an average price of $153.26, for a total value of $304,987.40. Following the completion of the transaction, the senior vice president now directly owns 11,459 shares in the company, valued at approximately $1,756,206.34. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.79% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of DGX. State of Alaska Department of Revenue raised its holdings in shares of Quest Diagnostics by 50.9% during the first quarter. State of Alaska Department of Revenue now owns 41,796 shares of the medical research company’s stock worth $5,562,000 after acquiring an additional 14,090 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Quest Diagnostics by 16.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 131,329 shares of the medical research company’s stock worth $17,481,000 after purchasing an additional 18,642 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Quest Diagnostics by 2.5% in the first quarter. Vanguard Group Inc. now owns 13,921,955 shares of the medical research company’s stock valued at $1,853,151,000 after purchasing an additional 345,754 shares in the last quarter. Seven Eight Capital LP acquired a new position in shares of Quest Diagnostics during the first quarter worth about $729,000. Finally, Janus Henderson Group PLC grew its holdings in shares of Quest Diagnostics by 126.0% during the first quarter. Janus Henderson Group PLC now owns 37,305 shares of the medical research company’s stock worth $4,966,000 after buying an additional 20,800 shares in the last quarter. Institutional investors 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.