Quest Diagnostics (NYSE:DGX) Upgraded by StockNews.com to “Buy”

Quest Diagnostics (NYSE:DGX) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

Several other equities research analysts have also weighed in on DGX. Mizuho increased their target price on Quest Diagnostics from $150.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday. SVB Leerink assumed coverage on Quest Diagnostics in a research report on Monday, February 26th. They issued a “market perform” rating and a $135.00 target price on the stock. UBS Group increased their target price on Quest Diagnostics from $139.00 to $146.00 and gave the stock a “neutral” rating in a research report on Wednesday. Citigroup increased their target price on Quest Diagnostics from $135.00 to $145.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Jefferies Financial Group raised Quest Diagnostics from a “hold” rating to a “buy” rating and increased their target price for the stock from $140.00 to $155.00 in a research report on Wednesday, February 7th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $146.17.

Quest Diagnostics Stock Performance

DGX stock opened at $134.26 on Thursday. The company has a current ratio of 0.97, a quick ratio of 1.20 and a debt-to-equity ratio of 0.59. The firm has a market cap of $14.91 billion, a P/E ratio of 18.07, a P/E/G ratio of 2.97 and a beta of 0.91. Quest Diagnostics has a 12-month low of $119.59 and a 12-month high of $146.85. The stock’s 50 day simple moving average is $129.09 and its 200 day simple moving average is $131.17.

Quest Diagnostics (NYSE:DGX) last issued its earnings results on Tuesday, April 23rd. The medical research company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.18. Quest Diagnostics had a return on equity of 15.52% and a net margin of 9.11%. The firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same period last year, the company earned $2.04 earnings per share. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, equities research analysts predict that Quest Diagnostics will post 8.74 EPS for the current year.

Insider Activity at Quest Diagnostics

In related news, SVP Michael E. Prevoznik sold 5,611 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $125.88, for a total transaction of $706,312.68. Following the completion of the transaction, the senior vice president now owns 38,478 shares of the company’s stock, valued at $4,843,610.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, SVP Michael E. Prevoznik sold 5,611 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $125.88, for a total value of $706,312.68. Following the completion of the transaction, the senior vice president now owns 38,478 shares in the company, valued at approximately $4,843,610.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Vicky B. Gregg sold 2,500 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $126.64, for a total value of $316,600.00. Following the completion of the transaction, the director now owns 16,329 shares of the company’s stock, valued at approximately $2,067,904.56. The disclosure for this sale can be found here. Insiders sold 15,150 shares of company stock valued at $1,913,202 over the last 90 days. 0.79% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Quest Diagnostics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. American Century Companies Inc. boosted its position in shares of Quest Diagnostics by 12.3% in the 3rd quarter. American Century Companies Inc. now owns 3,554,517 shares of the medical research company’s stock valued at $433,153,000 after purchasing an additional 388,162 shares during the period. Victory Capital Management Inc. boosted its position in shares of Quest Diagnostics by 1.8% in the 4th quarter. Victory Capital Management Inc. now owns 3,476,628 shares of the medical research company’s stock valued at $479,357,000 after purchasing an additional 62,114 shares during the period. Wellington Management Group LLP boosted its position in shares of Quest Diagnostics by 0.7% in the 4th quarter. Wellington Management Group LLP now owns 2,632,326 shares of the medical research company’s stock valued at $362,945,000 after purchasing an additional 18,533 shares during the period. JPMorgan Chase & Co. lifted its stake in Quest Diagnostics by 36.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,001,347 shares of the medical research company’s stock worth $243,884,000 after acquiring an additional 538,377 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Quest Diagnostics by 5.4% in the 3rd quarter. Invesco Ltd. now owns 1,798,803 shares of the medical research company’s stock worth $219,202,000 after acquiring an additional 92,542 shares in the last quarter. Institutional investors and hedge funds 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.