Deutsche Bank Aktiengesellschaft Issues Positive Forecast for Quest Diagnostics (NYSE:DGX) Stock Price

Quest Diagnostics (NYSE:DGX - Free Report) had its price objective boosted by Deutsche Bank Aktiengesellschaft from $160.00 to $178.00 in a report issued on Wednesday,Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a hold rating on the medical research company's stock.

Other equities research analysts have also issued reports about the stock. Robert W. Baird lifted their price target on shares of Quest Diagnostics from $191.00 to $194.00 and gave the company an "outperform" rating in a report on Wednesday, April 23rd. Redburn Atlantic started coverage on shares of Quest Diagnostics in a report on Wednesday, April 2nd. They set a "buy" rating and a $195.00 price target on the stock. Evercore ISI lifted their price target on shares of Quest Diagnostics from $175.00 to $180.00 and gave the company an "in-line" rating in a report on Wednesday, April 23rd. Truist Financial lifted their price target on shares of Quest Diagnostics from $182.00 to $190.00 and gave the company a "hold" rating in a report on Wednesday, April 23rd. Finally, Wall Street Zen lowered shares of Quest Diagnostics from a "buy" rating to a "hold" rating in a report on Saturday, June 7th. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $185.69.

Quest Diagnostics Price Performance

DGX stock traded down $3.52 during mid-day trading on Wednesday, hitting $168.38. The stock had a trading volume of 1,877,511 shares, compared to its average volume of 1,283,198. The company has a current ratio of 1.09, a quick ratio of 1.31 and a debt-to-equity ratio of 0.71. Quest Diagnostics has a 52 week low of $140.71 and a 52 week high of $182.38. The firm has a market capitalization of $18.83 billion, a P/E ratio of 20.16, a P/E/G ratio of 2.28 and a beta of 0.49. The firm has a fifty day simple moving average of $174.51 and a 200 day simple moving average of $169.61.

Quest Diagnostics (NYSE:DGX - Get Free Report) last released its earnings results on Tuesday, July 22nd. The medical research company reported $2.62 EPS for the quarter, beating the consensus estimate of $2.57 by $0.05. Quest Diagnostics had a net margin of 9.01% and a return on equity of 15.24%. The firm had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.73 billion. During the same period last year, the firm earned $2.35 EPS. The business's quarterly revenue was up 15.2% compared to the same quarter last year. As a group, research analysts forecast that Quest Diagnostics will post 9.7 EPS for the current year.

Quest Diagnostics Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 21st. Stockholders of record on Monday, July 7th were paid a $0.80 dividend. The ex-dividend date of this dividend was Monday, July 7th. This represents a $3.20 annualized dividend and a dividend yield of 1.90%. Quest Diagnostics's payout ratio is 38.32%.

Insider Activity

In related news, SVP Mark E. Delaney sold 874 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $175.72, for a total value of $153,579.28. Following the transaction, the senior vice president directly owned 8,372 shares of the company's stock, valued at approximately $1,471,127.84. The trade was a 9.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.16% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Quest Diagnostics

A number of hedge funds and other institutional investors have recently made changes to their positions in DGX. Pinnacle Bancorp Inc. lifted its holdings in shares of Quest Diagnostics by 126.9% in the second quarter. Pinnacle Bancorp Inc. now owns 152 shares of the medical research company's stock worth $27,000 after buying an additional 85 shares in the last quarter. Bruce G. Allen Investments LLC lifted its holdings in shares of Quest Diagnostics by 57.8% in the first quarter. Bruce G. Allen Investments LLC now owns 183 shares of the medical research company's stock worth $31,000 after buying an additional 67 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of Quest Diagnostics by 76.6% in the first quarter. First Horizon Advisors Inc. now owns 189 shares of the medical research company's stock worth $32,000 after buying an additional 82 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of Quest Diagnostics by 157.3% in the first quarter. Golden State Wealth Management LLC now owns 193 shares of the medical research company's stock worth $33,000 after buying an additional 118 shares in the last quarter. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of Quest Diagnostics in the second quarter worth about $35,000. 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.