Bank of America started coverage on shares of Quest Diagnostics (NYSE:DGX) in a research report sent to investors on Friday, October 19th, Marketbeat.com reports. The firm issued a buy rating on the medical research company’s stock.
Several other equities research analysts also recently commented on the stock. Argus set a $120.00 price target on shares of Quest Diagnostics and gave the company a buy rating in a research report on Friday, September 14th. Credit Suisse Group increased their target price on shares of Quest Diagnostics from $121.00 to $128.00 and gave the stock an outperform rating in a research report on Monday, September 24th. Evercore ISI upgraded shares of Quest Diagnostics from an in-line rating to an outperform rating and set a $103.00 target price for the company in a research report on Tuesday, July 10th. Deutsche Bank downgraded shares of Quest Diagnostics from a buy rating to a hold rating and set a $108.00 target price for the company. in a research report on Wednesday, June 27th. Finally, Barclays upgraded shares of Quest Diagnostics from an equal weight rating to an overweight rating and increased their target price for the stock from $120.00 to $130.00 in a research report on Monday, June 25th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $111.13.
Shares of NYSE:DGX traded down $0.47 during mid-day trading on Friday, hitting $97.33. The stock had a trading volume of 718,680 shares, compared to its average volume of 1,493,179. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.09 and a current ratio of 1.15. The company has a market cap of $13.27 billion, a PE ratio of 18.02, a price-to-earnings-growth ratio of 1.76 and a beta of 0.90. Quest Diagnostics has a 12-month low of $90.31 and a 12-month high of $116.49.
Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Tuesday, October 23rd. The medical research company reported $1.68 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.68. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.95 billion. Quest Diagnostics had a net margin of 11.30% and a return on equity of 15.71%. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.38 EPS. On average, equities analysts predict that Quest Diagnostics will post 6.56 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 22nd. Investors of record on Friday, October 5th were paid a $0.50 dividend. The ex-dividend date was Thursday, October 4th. This represents a $2.00 dividend on an annualized basis and a yield of 2.05%. Quest Diagnostics’s payout ratio is presently 37.04%.
A number of large investors have recently bought and sold shares of DGX. Migdal Insurance & Financial Holdings Ltd. grew its position in Quest Diagnostics by 8,866.7% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,076 shares of the medical research company’s stock worth $118,000 after purchasing an additional 1,064 shares during the last quarter. Fort L.P. acquired a new stake in Quest Diagnostics in the 2nd quarter worth $121,000. Capital Advisors Ltd. LLC acquired a new stake in Quest Diagnostics in the 3rd quarter worth $123,000. Flagship Harbor Advisors LLC acquired a new stake in Quest Diagnostics in the 2nd quarter worth $126,000. Finally, Stelac Advisory Services LLC acquired a new stake in Quest Diagnostics in the 3rd quarter worth $128,000. Institutional investors and hedge funds own 86.55% of the company’s stock.
Quest Diagnostics Company Profile
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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