Quest Diagnostics Incorporated (NYSE:DGX) Given Average Recommendation of "Hold" by Analysts

Quest Diagnostics Incorporated (NYSE:DGX - Get Free Report) has been given an average rating of "Hold" by the eleven analysts that are presently covering the stock, Marketbeat.com reports. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $144.18.

DGX has been the topic of a number of research analyst reports. SVB Leerink initiated coverage on Quest Diagnostics in a research report on Monday, February 26th. They set a "market perform" rating and a $135.00 price target on the stock. Jefferies Financial Group upgraded Quest Diagnostics from a "hold" rating to a "buy" rating and increased their price target for the stock from $140.00 to $155.00 in a research report on Wednesday, February 7th. Barclays initiated coverage on Quest Diagnostics in a report on Wednesday, January 3rd. They set an "equal weight" rating and a $145.00 price objective on the stock. StockNews.com downgraded Quest Diagnostics from a "buy" rating to a "hold" rating in a report on Wednesday, April 17th. Finally, TheStreet downgraded Quest Diagnostics from a "b-" rating to a "c" rating in a report on Monday, February 5th.

Quest Diagnostics Price Performance

NYSE DGX traded up $6.65 during trading hours on Tuesday, reaching $136.74. 2,088,321 shares of the company's stock were exchanged, compared to its average volume of 1,057,877. The stock has a market cap of $15.19 billion, a PE ratio of 18.26, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. Quest Diagnostics has a one year low of $119.59 and a one year high of $148.62. The firm has a fifty day moving average of $128.50 and a 200-day moving average of $131.03. The company has a current ratio of 1.31, a quick ratio of 1.20 and a debt-to-equity ratio of 0.70.

Quest Diagnostics (NYSE:DGX - Get Free Report) last released its quarterly earnings results on Thursday, February 1st. The medical research company reported $2.15 EPS for the quarter, topping analysts' consensus estimates of $2.11 by $0.04. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.25 billion. Quest Diagnostics had a return on equity of 15.79% and a net margin of 9.23%. Quest Diagnostics's revenue for the quarter was down 1.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.98 EPS. On average, equities research analysts predict that Quest Diagnostics will post 8.75 earnings per share for the current fiscal year.

Quest Diagnostics Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 8th were paid a $0.75 dividend. The ex-dividend date was Friday, April 5th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.19%. This is an increase from Quest Diagnostics's previous quarterly dividend of $0.71. Quest Diagnostics's dividend payout ratio is 37.92%.

Insider Activity

In other news, SVP Michael E. Prevoznik sold 5,611 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $125.88, for a total value of $706,312.68. Following the transaction, the senior vice president now owns 38,478 shares of the company's stock, valued at approximately $4,843,610.64. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, SVP Michael E. Prevoznik sold 5,611 shares of the company's stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $125.88, for a total value of $706,312.68. Following the completion of the sale, the senior vice president now owns 38,478 shares in the company, valued at approximately $4,843,610.64. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Catherine T. Doherty sold 5,557 shares of the company's stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $126.57, for a total transaction of $703,349.49. Following the completion of the sale, the executive vice president now owns 69,599 shares of the company's stock, valued at approximately $8,809,145.43. The disclosure for this sale can be found here. Insiders have sold a total of 15,150 shares of company stock valued at $1,913,202 in the last 90 days. 0.79% of the stock is owned by company insiders.

Institutional Trading of Quest Diagnostics

A number of large investors have recently made changes to their positions in the company. American Century Companies Inc. increased its position in shares of Quest Diagnostics by 12.3% in the 3rd quarter. American Century Companies Inc. now owns 3,554,517 shares of the medical research company's stock valued at $433,153,000 after buying an additional 388,162 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Quest Diagnostics by 1.8% during the 4th quarter. Victory Capital Management Inc. now owns 3,476,628 shares of the medical research company's stock worth $479,357,000 after purchasing an additional 62,114 shares in the last quarter. Wellington Management Group LLP increased its holdings in Quest Diagnostics by 0.7% during the 4th quarter. Wellington Management Group LLP now owns 2,632,326 shares of the medical research company's stock worth $362,945,000 after purchasing an additional 18,533 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Quest Diagnostics by 36.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,001,347 shares of the medical research company's stock worth $243,884,000 after purchasing an additional 538,377 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Quest Diagnostics by 5.4% during the 3rd quarter. Invesco Ltd. now owns 1,798,803 shares of the medical research company's stock worth $219,202,000 after purchasing an additional 92,542 shares in the last quarter. Institutional investors own 88.06% of the company's stock.

Quest Diagnostics Company Profile

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.