Quest Diagnostics (NYSE:DGX) Upgraded to “Strong-Buy” by Baird R W

Quest Diagnostics (NYSE:DGX) was upgraded by analysts at Baird R W from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday, Zacks.com reports.

A number of other research firms have also commented on DGX. Evercore ISI initiated coverage on Quest Diagnostics in a research report on Wednesday, August 28th. They issued an “in-line” rating and a $165.00 price target for the company. Barclays increased their price target on Quest Diagnostics from $154.00 to $168.00 and gave the company an “equal weight” rating in a research report on Wednesday. Citigroup increased 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. Truist Financial increased their price target on Quest Diagnostics from $158.00 to $165.00 and gave the company a “hold” rating in a research report on Monday, October 7th. Finally, UBS Group raised their target price on Quest Diagnostics from $165.00 to $166.00 and gave the company a “neutral” rating in a research report on Wednesday. Nine investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $163.33.

Quest Diagnostics Price Performance

Shares of DGX opened at $158.00 on Wednesday. Quest Diagnostics has a 12-month low of $121.60 and a 12-month high of $160.95. The business’s fifty day moving average is $153.05 and its 200 day moving average is $144.57. The company has a quick ratio of 0.91, a current ratio of 1.00 and a debt-to-equity ratio of 0.57. The stock has a market cap of $17.55 billion, a P/E ratio of 21.27, a P/E/G ratio of 2.45 and a beta of 0.89.

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 analysts’ consensus estimates of $2.26 by $0.04. Quest Diagnostics had a return on equity of 15.35% and a net margin of 8.99%. The company had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same period last year, the business earned $2.22 EPS. Quest Diagnostics’s quarterly revenue was up 8.5% compared to the same quarter last year. Sell-side analysts anticipate that Quest Diagnostics will post 8.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Karthik Kuppusamy sold 1,990 shares of Quest Diagnostics stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $153.26, for a total value of $304,987.40. Following the completion of the sale, the senior vice president now owns 11,459 shares of the company’s stock, valued at approximately $1,756,206.34. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.79% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in DGX. WD Rutherford LLC boosted its stake in Quest Diagnostics by 9.6% in the 1st quarter. WD Rutherford LLC now owns 2,900 shares of the medical research company’s stock worth $386,000 after purchasing an additional 255 shares during the period. Occidental Asset Management LLC boosted its stake in Quest Diagnostics by 7.0% in the 1st quarter. Occidental Asset Management LLC now owns 20,471 shares of the medical research company’s stock worth $2,725,000 after purchasing an additional 1,341 shares during the period. Toth Financial Advisory Corp boosted its stake in Quest Diagnostics by 2.1% in the 1st quarter. Toth Financial Advisory Corp now owns 19,196 shares of the medical research company’s stock worth $2,555,000 after purchasing an additional 402 shares during the period. Waterway Wealth Management LLC boosted its stake in Quest Diagnostics by 14.4% in the 1st quarter. Waterway Wealth Management LLC now owns 3,481 shares of the medical research company’s stock worth $463,000 after purchasing an additional 438 shares during the period. Finally, Wasatch Advisors LP bought a new position in Quest Diagnostics in the 1st quarter worth about $4,747,000. 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.