SunTrust Banks Trims Quest Diagnostics (DGX) Target Price to $96.00

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Quest Diagnostics (NYSE:DGX) had its price target decreased by SunTrust Banks to $96.00 in a research note issued to investors on Monday, The Fly reports. SunTrust Banks currently has a positive rating on the medical research company’s stock.

DGX has been the subject of several other research reports. JPMorgan Chase & Co. dropped their price objective on shares of Quest Diagnostics from $114.00 to $107.00 and set a neutral rating for the company in a research note on Wednesday, October 24th. Credit Suisse Group reiterated a buy rating and issued a $121.00 price objective on shares of Quest Diagnostics in a research note on Sunday, December 2nd. Argus set a $120.00 price objective on shares of Quest Diagnostics and gave the stock a buy rating in a research note on Friday, September 14th. Barclays dropped their price objective on shares of Quest Diagnostics from $125.00 to $117.00 and set an overweight rating for the company in a research note on Friday, November 30th. Finally, Goldman Sachs Group cut shares of Quest Diagnostics from a buy rating to a neutral rating and dropped their price objective for the stock from $110.00 to $90.00 in a research note on Friday, November 30th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $106.19.

NYSE DGX opened at $88.83 on Monday. The company has a quick ratio of 1.09, a current ratio of 1.15 and a debt-to-equity ratio of 0.63. The stock has a market cap of $12.21 billion, a PE ratio of 16.45, a P/E/G ratio of 1.87 and a beta of 0.89. Quest Diagnostics has a 52-week low of $85.56 and a 52-week high of $116.49.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings data on Tuesday, October 23rd. The medical research company reported $1.68 earnings per share for the quarter, hitting the consensus estimate of $1.68. Quest Diagnostics had a net margin of 11.30% and a return on equity of 15.71%. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter in the previous year, the company earned $1.38 EPS. The business’s revenue was up 1.8% on a year-over-year basis. As a group, equities research analysts expect that Quest Diagnostics will post 6.38 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 30th. Shareholders of record on Tuesday, January 15th will be issued a $0.53 dividend. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.50. This represents a $2.12 annualized dividend and a yield of 2.39%. The ex-dividend date is Monday, January 14th. Quest Diagnostics’s dividend payout ratio (DPR) is currently 37.04%.

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Quest Diagnostics by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 14,500,290 shares of the medical research company’s stock valued at $1,564,725,000 after buying an additional 201,951 shares during the period. Macquarie Group Ltd. increased its holdings in Quest Diagnostics by 4.8% in the 3rd quarter. Macquarie Group Ltd. now owns 6,708,232 shares of the medical research company’s stock valued at $723,882,000 after buying an additional 306,017 shares during the period. American Century Companies Inc. increased its holdings in Quest Diagnostics by 38.7% in the 3rd quarter. American Century Companies Inc. now owns 4,109,526 shares of the medical research company’s stock valued at $443,459,000 after buying an additional 1,147,470 shares during the period. Victory Capital Management Inc. increased its holdings in Quest Diagnostics by 4.3% in the 3rd quarter. Victory Capital Management Inc. now owns 2,675,725 shares of the medical research company’s stock valued at $288,737,000 after buying an additional 111,200 shares during the period. Finally, Northern Trust Corp increased its holdings in Quest Diagnostics by 0.6% in the 2nd quarter. Northern Trust Corp now owns 2,048,599 shares of the medical research company’s stock valued at $225,223,000 after buying an additional 11,848 shares during the period. 86.26% of the stock is currently owned by hedge funds and other institutional investors.

About Quest Diagnostics

Quest Diagnostics Incorporated provides diagnostic testing information and services in the United States and internationally. The company's Diagnostic Information Services business segment develops and delivers diagnostic testing information and services, such as routine testing, non-routine and advanced clinical testing, gene-based and esoteric testing, anatomic pathology, and other diagnostic information services.

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Analyst Recommendations for Quest Diagnostics (NYSE:DGX)

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