Quest Diagnostics (NYSE:DGX) Reaches New 52-Week High – Should You Buy?

Quest Diagnostics Incorporated (NYSE:DGX) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $175.89 and last traded at $173.99, with a volume of 1008385 shares trading hands. The stock had previously closed at $172.24.

Analyst Ratings Changes

A number of analysts recently commented on DGX shares. 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. StockNews.com lowered Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Bank of America upped their price target on Quest Diagnostics from $179.00 to $182.00 and gave the stock a “buy” rating in a report on Friday, December 13th. JPMorgan Chase & Co. lifted their price objective on Quest Diagnostics from $173.00 to $180.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Finally, Barclays upped their target price on Quest Diagnostics from $168.00 to $175.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $178.23.

Quest Diagnostics Trading Up 1.0 %

The stock has a market cap of $19.31 billion, a PE ratio of 22.63, a PEG ratio of 2.16 and a beta of 0.91. 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 business has a 50-day moving average of $157.99 and a 200 day moving average of $156.17.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Thursday, January 30th. The medical research company reported $2.23 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%. Equities research analysts predict that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend is Monday, April 7th. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.75. Quest Diagnostics’s dividend payout ratio is currently 41.61%.

Insider Transactions at Quest Diagnostics

In other Quest Diagnostics news, Director Vicky B. Gregg sold 1,250 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $164.57, for a total value of $205,712.50. Following the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Catherine T. Doherty sold 535 shares of Quest Diagnostics stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $169.71, for a total value of $90,794.85. Following the completion of the sale, the executive vice president now owns 71,356 shares of the company’s stock, valued at $12,109,826.76. This trade represents a 0.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,792 shares of company stock worth $465,998 over the last quarter. 0.79% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Quest Diagnostics

A number of large investors have recently bought and sold shares of DGX. Landscape Capital Management L.L.C. acquired a new stake in shares of Quest Diagnostics during the 3rd quarter worth $1,363,000. Sanctuary Advisors LLC increased its stake in Quest Diagnostics by 85.5% during the third quarter. Sanctuary Advisors LLC now owns 17,969 shares of the medical research company’s stock worth $2,940,000 after acquiring an additional 8,282 shares during the last quarter. Natixis Advisors LLC increased its stake in Quest Diagnostics by 7.7% during the third quarter. Natixis Advisors LLC now owns 92,830 shares of the medical research company’s stock worth $14,412,000 after acquiring an additional 6,619 shares during the last quarter. BankPlus Wealth Management LLC purchased a new position in shares of Quest Diagnostics in the 4th quarter worth about $355,000. Finally, Van ECK Associates Corp lifted its stake in shares of Quest Diagnostics by 980.3% in the 4th quarter. Van ECK Associates Corp now owns 24,198 shares of the medical research company’s stock valued at $3,650,000 after purchasing an additional 21,958 shares in the last quarter. Hedge funds and other 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.