Quest Diagnostics (NYSE:DGX) Reaches New 1-Year High – Should You Buy?

Quest Diagnostics Incorporated (NYSE:DGX)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $178.65 and last traded at $178.61, with a volume of 203936 shares changing hands. The stock had previously closed at $175.56.

Analysts Set New Price Targets

Several equities analysts have issued reports on DGX shares. Mizuho boosted their target price on Quest Diagnostics from $177.00 to $178.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Barclays upped their price target on shares of Quest Diagnostics from $168.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Piper Sandler reissued a “neutral” rating and set a $180.00 price objective (up previously from $165.00) on shares of Quest Diagnostics in a report on Monday, February 3rd. Morgan Stanley raised Quest Diagnostics from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $145.00 to $172.00 in a research note on Tuesday, December 17th. Finally, Leerink Partners raised shares of Quest Diagnostics from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $169.00 to $174.00 in a research note on Monday, January 6th. Eight research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $178.23.

Quest Diagnostics Trading Down 1.1 %

The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.02 and a current ratio of 1.10. The company has a market cap of $19.26 billion, a P/E ratio of 22.57, a P/E/G ratio of 2.16 and a beta of 0.92. The business has a fifty day simple moving average of $161.74 and a 200 day simple moving average of $157.63.

Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings results on Thursday, January 30th. The medical research company reported $2.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.19 by $0.04. Quest Diagnostics had a net margin of 8.80% and a return on equity of 15.07%. Analysts anticipate that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal year.

Quest Diagnostics Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be issued a dividend of $0.80 per share. 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 1.84%. Quest Diagnostics’s payout ratio is 41.61%.

Insider Activity at Quest Diagnostics

In related news, Director Vicky B. Gregg sold 1,250 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $164.57, for a total value of $205,712.50. Following the completion of the sale, the director now owns 16,867 shares of the company’s stock, valued at $2,775,802.19. This represents a 6.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Mark E. Delaney sold 403 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $164.30, for a total transaction of $66,212.90. Following the transaction, the senior vice president now directly owns 4,624 shares in the company, valued at approximately $759,723.20. The trade was a 8.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,514 shares of company stock worth $1,634,445 in the last ninety days. 0.79% of the stock is owned by insiders.

Institutional Trading of Quest Diagnostics

Institutional investors have recently made changes to their positions in the stock. Meiji Yasuda Asset Management Co Ltd. boosted its stake in Quest Diagnostics by 1.6% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,843 shares of the medical research company’s stock valued at $580,000 after purchasing an additional 60 shares in the last quarter. Net Worth Advisory Group raised its position in Quest Diagnostics by 1.0% in the fourth quarter. Net Worth Advisory Group now owns 6,495 shares of the medical research company’s stock worth $980,000 after acquiring an additional 62 shares in the last quarter. Bessemer Group Inc. boosted its position in shares of Quest Diagnostics by 0.3% during the 4th quarter. Bessemer Group Inc. now owns 20,811 shares of the medical research company’s stock valued at $3,140,000 after purchasing an additional 65 shares in the last quarter. Brooklyn Investment Group lifted its stake in Quest Diagnostics by 5.5% during the fourth quarter. Brooklyn Investment Group now owns 1,315 shares of the medical research company’s stock valued at $198,000 after purchasing an additional 68 shares during the last quarter. Finally, Avestar Capital LLC boosted its holdings in Quest Diagnostics by 1.1% during the third quarter. Avestar Capital LLC now owns 6,288 shares of the medical research company’s stock worth $976,000 after buying an additional 71 shares in the last quarter. 88.06% of the stock is owned by institutional investors and hedge funds.

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.