Quest Diagnostics Incorporated (NYSE:DGX) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Monday, July 24th.
Other research analysts have also issued reports about the company. Mizuho reissued a “buy” rating and issued a $90.00 price objective (down from $103.00) on shares of Quest Diagnostics in a research report on Friday, April 14th. Deutsche Bank AG restated a “buy” rating and set a $115.00 target price (up from $108.00) on shares of Quest Diagnostics in a research note on Sunday, April 23rd. Canaccord Genuity raised their target price on Quest Diagnostics from $102.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, April 25th. UBS AG reiterated a “buy” rating and issued a $115.00 price target (up from $102.00) on shares of Quest Diagnostics in a research note on Tuesday, April 25th. Finally, Zacks Investment Research upgraded Quest Diagnostics from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a research note on Wednesday, March 29th. Nine equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Quest Diagnostics has a consensus rating of “Buy” and a consensus price target of $110.72.
Quest Diagnostics (NYSE:DGX) traded down 0.55% during mid-day trading on Monday, reaching $106.97. The company had a trading volume of 618,593 shares. The stock has a market capitalization of $14.59 billion, a price-to-earnings ratio of 21.57 and a beta of 0.69. Quest Diagnostics has a 52 week low of $79.12 and a 52 week high of $112.96. The stock has a 50 day moving average of $109.18 and a 200 day moving average of $102.41.
Quest Diagnostics (NYSE:DGX) last issued its earnings results on Tuesday, July 25th. The medical research company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.13. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.94 billion. Quest Diagnostics had a return on equity of 15.66% and a net margin of 9.28%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period last year, the company posted $1.34 EPS. Analysts anticipate that Quest Diagnostics will post $5.69 earnings per share for the current year.
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In related news, SVP Catherine T. Doherty sold 59,762 shares of the firm’s stock in a transaction on Monday, June 19th. The shares were sold at an average price of $107.55, for a total value of $6,427,403.10. Following the completion of the transaction, the senior vice president now owns 78,582 shares of the company’s stock, valued at $8,451,494.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey M. Leiden sold 1,304 shares of Quest Diagnostics stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $108.73, for a total transaction of $141,783.92. Following the completion of the transaction, the director now directly owns 6,296 shares of the company’s stock, valued at approximately $684,564.08. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. YorkBridge Wealth Partners LLC boosted its stake in shares of Quest Diagnostics by 1.5% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,188 shares of the medical research company’s stock valued at $127,000 after buying an additional 18 shares during the period. Parallel Advisors LLC boosted its position in shares of Quest Diagnostics by 16.1% in the first quarter. Parallel Advisors LLC now owns 1,279 shares of the medical research company’s stock valued at $137,000 after buying an additional 177 shares during the last quarter. Advisors Capital Management LLC purchased a new position in shares of Quest Diagnostics during the first quarter valued at approximately $164,000. Trust Co. of Vermont boosted its position in shares of Quest Diagnostics by 8.5% in the first quarter. Trust Co. of Vermont now owns 1,859 shares of the medical research company’s stock valued at $182,000 after buying an additional 145 shares during the last quarter. Finally, Financial Architects Inc boosted its position in shares of Quest Diagnostics by 5.6% in the second quarter. Financial Architects Inc now owns 1,666 shares of the medical research company’s stock valued at $185,000 after buying an additional 88 shares during the last quarter. Institutional investors own 91.38% of the company’s stock.
Quest Diagnostics Company Profile
Quest Diagnostics Incorporated is a provider of diagnostic information services. The Company operates through two businesses: Diagnostic Information Services and Diagnostic Solutions. The Diagnostic Information Services business develops and delivers diagnostic testing information and services, providing insights that empower and enable a range of customers, including patients, clinicians, hospitals, integrated delivery networks (IDNs), health plans, employers and accountable care organizations (ACOs).
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