Quest Diagnostics (NYSE:DGX) Reaches New 1-Year High Following Analyst Upgrade

Shares of Quest Diagnostics Incorporated (NYSE:DGX) hit a new 52-week high on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $220.00 to $250.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Quest Diagnostics traded as high as $240.13 and last traded at $235.2560, with a volume of 1611950 shares changing hands. The stock had previously closed at $231.84.

A number of other equities analysts have also recently weighed in on the company. Jefferies Financial Group reaffirmed a “buy” rating and issued a $245.00 price objective on shares of Quest Diagnostics in a research report on Thursday, July 23rd. Robert W. Baird upped their target price on shares of Quest Diagnostics from $236.00 to $255.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Truist Financial lifted their price target on shares of Quest Diagnostics from $225.00 to $250.00 and gave the stock a “hold” rating in a research note on Friday, July 24th. Weiss Ratings upgraded shares of Quest Diagnostics from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, July 9th. Finally, Wall Street Zen raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a research report on Tuesday. Six analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, Quest Diagnostics has an average rating of “Hold” and a consensus target price of $235.31.

Insider Buying and Selling

In related news, CEO J. E. Davis sold 10,000 shares of Quest Diagnostics stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $194.14, for a total value of $1,941,400.00. Following the completion of the transaction, the chief executive officer directly owned 132,423 shares in the company, valued at approximately $25,708,601.22. This trade represents a 7.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mark E. Delaney sold 1,600 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $235.18, for a total value of $376,288.00. Following the completion of the sale, the senior vice president directly owned 10,335 shares of the company’s stock, valued at approximately $2,430,585.30. This represents a 13.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 19,747 shares of company stock worth $3,947,088. Corporate insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On Quest Diagnostics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Key Financial Inc boosted its holdings in Quest Diagnostics by 1,728.6% in the first quarter. Key Financial Inc now owns 128 shares of the medical research company’s stock worth $25,000 after purchasing an additional 121 shares during the period. Quattro Advisors LLC acquired a new stake in shares of Quest Diagnostics during the fourth quarter worth $25,000. DV Equities LLC bought a new position in shares of Quest Diagnostics in the 4th quarter worth about $27,000. Sittner & Nelson LLC bought a new position in shares of Quest Diagnostics in the 4th quarter worth about $29,000. Finally, McIlrath & Eck LLC acquired a new position in shares of Quest Diagnostics in the 4th quarter valued at about $32,000. 88.06% of the stock is owned by institutional investors and hedge funds.

Quest Diagnostics Price Performance

The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.46 and a current ratio of 1.59. The company’s fifty day moving average price is $206.60 and its 200 day moving average price is $199.35. The firm has a market capitalization of $25.92 billion, a price-to-earnings ratio of 24.93, a price-to-earnings-growth ratio of 2.17 and a beta of 0.58.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings data on Thursday, July 23rd. The medical research company reported $3.12 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.30. Quest Diagnostics had a net margin of 9.18% and a return on equity of 16.01%. The firm had revenue of $3.04 billion for the quarter, compared to analyst estimates of $2.97 billion. During the same quarter in the prior year, the business earned $2.62 earnings per share. Quest Diagnostics’s quarterly revenue was up 10.2% on a year-over-year basis. Quest Diagnostics has set its FY 2026 guidance at 11.050-11.250 EPS. Equities research analysts expect that Quest Diagnostics Incorporated will post 11.15 earnings per share for the current year.

Quest Diagnostics Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 8th were given a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Wednesday, July 8th. Quest Diagnostics’s dividend payout ratio is presently 36.52%.

Quest Diagnostics Company Profile

Quest Diagnostics (NYSE: DGX) is a leading provider of diagnostic information services that supports clinical decision-making for patients, physicians and healthcare organizations. The company operates a network of clinical laboratories and patient service centers that perform a broad range of laboratory tests and diagnostic assays used in routine care, disease diagnosis, monitoring and screening.

Its services span core clinical laboratory testing, anatomic pathology, molecular and genomic diagnostics, infectious disease testing and toxicology.