StockNews.com Downgrades Quest Diagnostics (NYSE:DGX) to Hold

Quest Diagnostics (NYSE:DGX) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

Several other analysts also recently issued reports on DGX. UBS Group raised their price target on Quest Diagnostics from $139.00 to $146.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Jefferies Financial Group raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating and increased their price objective for the stock from $140.00 to $155.00 in a report on Wednesday, February 7th. TheStreet lowered shares of Quest Diagnostics from a “b-” rating to a “c” rating in a research note on Monday, February 5th. Mizuho raised their price target on shares of Quest Diagnostics from $150.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, SVB Leerink began coverage on Quest Diagnostics in a research report on Monday, February 26th. They set a “market perform” rating and a $135.00 price objective for the company. Ten research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Quest Diagnostics has an average rating of “Hold” and a consensus price target of $146.17.

Quest Diagnostics Stock Up 0.8 %

DGX stock opened at $137.38 on Friday. The firm has a market cap of $15.26 billion, a price-to-earnings ratio of 18.49, a PEG ratio of 2.96 and a beta of 0.88. Quest Diagnostics has a 1-year low of $119.59 and a 1-year high of $145.58. The firm has a fifty day moving average price of $130.33 and a two-hundred day moving average price of $131.77. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.97 and a quick ratio of 0.89.

Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings results on Tuesday, April 23rd. The medical research company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.86 by $0.18. Quest Diagnostics had a net margin of 9.11% and a return on equity of 15.52%. The business had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.29 billion. During the same period in the previous year, the business posted $2.04 EPS. The company’s quarterly revenue was up 1.7% on a year-over-year basis. Research analysts predict that Quest Diagnostics will post 8.78 EPS for the current year.

Insider Activity

In related news, SVP Michael E. Prevoznik sold 661 shares of Quest Diagnostics stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $126.14, for a total transaction of $83,378.54. Following the transaction, the senior vice president now directly owns 40,206 shares of the company’s stock, valued at $5,071,584.84. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Quest Diagnostics news, EVP Catherine T. Doherty sold 821 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $126.14, for a total value of $103,560.94. Following the transaction, the executive vice president now owns 70,800 shares of the company’s stock, valued at $8,930,712. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael E. Prevoznik sold 661 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $126.14, for a total value of $83,378.54. Following the sale, the senior vice president now directly owns 40,206 shares of the company’s stock, valued at $5,071,584.84. The disclosure for this sale can be found here. Insiders sold a total of 16,910 shares of company stock worth $2,159,602 over the last 90 days. 0.79% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Quest Diagnostics

Several hedge funds have recently modified their holdings of DGX. Raymond James & Associates lifted its position in shares of Quest Diagnostics by 103.3% in the 4th quarter. Raymond James & Associates now owns 148,251 shares of the medical research company’s stock valued at $20,441,000 after acquiring an additional 75,315 shares in the last quarter. CHURCHILL MANAGEMENT Corp acquired a new stake in shares of Quest Diagnostics in the fourth quarter worth $1,483,000. Wellington Management Group LLP grew its holdings in shares of Quest Diagnostics by 14.6% during the third quarter. Wellington Management Group LLP now owns 2,613,793 shares of the medical research company’s stock valued at $318,517,000 after buying an additional 333,947 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Quest Diagnostics by 201.5% during the fourth quarter. Pacer Advisors Inc. now owns 31,912 shares of the medical research company’s stock valued at $4,400,000 after buying an additional 21,327 shares in the last quarter. Finally, Strs Ohio raised its position in Quest Diagnostics by 7.6% during the fourth quarter. Strs Ohio now owns 16,270 shares of the medical research company’s stock valued at $2,243,000 after buying an additional 1,150 shares during the period. 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.