Leerink Partners Upgrades Quest Diagnostics (NYSE:DGX) to “Outperform”

Quest Diagnostics (NYSE:DGX) was upgraded by equities researchers at Leerink Partners from a “market perform” rating to an “outperform” rating in a note issued to investors on Monday, Marketbeat reports. The brokerage presently has a $174.00 target price on the medical research company’s stock, up from their previous target price of $169.00. Leerink Partners’ price objective points to a potential upside of 13.15% from the company’s current price.

Several other research analysts have also recently weighed in on DGX. Citigroup lifted their price target on Quest Diagnostics from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Barclays increased their price target on shares of Quest Diagnostics from $154.00 to $168.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. Baird R W upgraded shares of Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 23rd. Bank of America raised their target price on Quest Diagnostics from $179.00 to $182.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, StockNews.com raised Quest Diagnostics from a “hold” rating to a “buy” rating in a report on Friday, December 20th. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Quest Diagnostics presently has a consensus rating of “Moderate Buy” and a consensus price target of $172.15.

Quest Diagnostics Price Performance

Shares of NYSE:DGX opened at $153.78 on Monday. Quest Diagnostics has a twelve month low of $123.04 and a twelve month high of $165.32. The company has a current ratio of 1.25, a quick ratio of 1.17 and a debt-to-equity ratio of 0.83. The company has a market cap of $17.16 billion, a PE ratio of 20.67, a price-to-earnings-growth ratio of 2.69 and a beta of 0.90. The company’s 50 day moving average is $156.96 and its 200 day moving average is $151.85.

Quest Diagnostics (NYSE:DGX) last issued its earnings results on Tuesday, October 22nd. The medical research company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.04. Quest Diagnostics had a net margin of 8.82% and a return on equity of 15.25%. 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 earnings per share. The firm’s revenue was up 8.5% compared to the same quarter last year. On average, sell-side analysts forecast that Quest Diagnostics will post 8.9 EPS for the current year.

Insider Buying and Selling at Quest Diagnostics

In related news, CAO Michael J. Deppe sold 18,755 shares of Quest Diagnostics stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $154.05, for a total transaction of $2,889,207.75. Following the transaction, the chief accounting officer now owns 34,941 shares in the company, valued at approximately $5,382,661.05. This trade represents a 34.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Karthik Kuppusamy sold 1,775 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $156.92, for a total value of $278,533.00. Following the completion of the sale, the senior vice president now owns 9,734 shares of the company’s stock, valued at approximately $1,527,459.28. The trade was a 15.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.79% of the stock is owned by insiders.

Hedge Funds Weigh In On Quest Diagnostics

Institutional investors have recently bought and sold shares of the company. Mizuho Securities USA LLC increased its holdings in shares of Quest Diagnostics by 5,168.5% during the 3rd quarter. Mizuho Securities USA LLC now owns 451,403 shares of the medical research company’s stock worth $70,080,000 after buying an additional 442,835 shares during the last quarter. Point72 Asset Management L.P. raised its position in Quest Diagnostics by 222.0% in the second quarter. Point72 Asset Management L.P. now owns 299,740 shares of the medical research company’s stock valued at $41,028,000 after purchasing an additional 206,640 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in shares of Quest Diagnostics in the 2nd quarter valued at $22,049,000. BNP Paribas Financial Markets lifted its stake in shares of Quest Diagnostics by 25.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 747,298 shares of the medical research company’s stock valued at $116,018,000 after purchasing an additional 151,365 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Quest Diagnostics by 6.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,109,515 shares of the medical research company’s stock worth $288,758,000 after purchasing an additional 129,395 shares during the last quarter. 88.06% of the stock is owned by hedge funds and other 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.