Quest Diagnostics (NYSE:DGX) Upgraded to Buy by StockNews.com

Quest Diagnostics (NYSE:DGX - Get Free Report) was upgraded by investment analysts at StockNews.com from a "hold" rating to a "buy" rating in a research note issued to investors on Tuesday.

A number of other research analysts have also recently commented on the company. Bank of America upgraded Quest Diagnostics from a "neutral" rating to a "buy" rating and increased their price target for the company from $140.00 to $160.00 in a research note on Tuesday, December 12th. Barclays began coverage on Quest Diagnostics in a research note on Wednesday, January 3rd. They issued an "equal weight" rating and a $145.00 price target for the company. TheStreet cut Quest Diagnostics from a "b-" rating to a "c" rating in a research note on Monday, February 5th. SVB Leerink began coverage on Quest Diagnostics in a research note on Monday, February 26th. They issued a "market perform" rating and a $135.00 price target for the company. Finally, Jefferies Financial Group raised shares of Quest Diagnostics from a "hold" rating to a "buy" rating and raised their price target for the company from $140.00 to $155.00 in a research note on Wednesday, February 7th. Nine research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Quest Diagnostics presently has a consensus rating of "Hold" and an average price target of $144.18.

Quest Diagnostics Price Performance

NYSE DGX traded up $2.74 on Tuesday, hitting $132.78. 800,033 shares of the company's stock were exchanged, compared to its average volume of 1,055,317. The stock has a 50-day moving average of $127.91 and a 200-day moving average of $130.51. 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 has a 52 week low of $119.59 and a 52 week high of $148.62. The stock has a market cap of $14.75 billion, a price-to-earnings ratio of 17.73, a P/E/G ratio of 2.82 and a beta of 0.91.

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

Insider Activity at Quest Diagnostics

In related news, Director Vicky B. Gregg sold 2,500 shares of the business's stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $126.64, for a total value of $316,600.00. Following the transaction, the director now owns 16,329 shares in the company, valued at $2,067,904.56. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Vicky B. Gregg sold 2,500 shares of the business's stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $126.64, for a total value of $316,600.00. Following the transaction, the director now owns 16,329 shares in the company, valued at $2,067,904.56. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Catherine T. Doherty sold 821 shares of the company's stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $126.14, for a total transaction of $103,560.94. Following the transaction, the executive vice president now owns 70,800 shares in the company, valued at approximately $8,930,712. The disclosure for this sale can be found here. Insiders have sold a total of 15,150 shares of company stock worth $1,913,202 over the last quarter. Company insiders own 0.66% of the company's stock.

Hedge Funds Weigh In On Quest Diagnostics

Several institutional investors have recently made changes to their positions in the stock. Czech National Bank raised its holdings in shares of Quest Diagnostics by 0.4% during the fourth quarter. Czech National Bank now owns 19,692 shares of the medical research company's stock valued at $2,715,000 after purchasing an additional 75 shares during the period. Mendota Financial Group LLC increased its position in shares of Quest Diagnostics by 6.2% during the fourth quarter. Mendota Financial Group LLC now owns 1,296 shares of the medical research company's stock worth $179,000 after acquiring an additional 76 shares in the last quarter. Apollon Wealth Management LLC increased its position in shares of Quest Diagnostics by 1.6% during the fourth quarter. Apollon Wealth Management LLC now owns 4,814 shares of the medical research company's stock worth $753,000 after acquiring an additional 78 shares in the last quarter. Exchange Traded Concepts LLC increased its position in shares of Quest Diagnostics by 1.9% during the third quarter. Exchange Traded Concepts LLC now owns 4,417 shares of the medical research company's stock worth $538,000 after acquiring an additional 84 shares in the last quarter. Finally, Montecito Bank & Trust increased its position in shares of Quest Diagnostics by 4.7% during the fourth quarter. Montecito Bank & Trust now owns 1,909 shares of the medical research company's stock worth $263,000 after acquiring an additional 85 shares in the last quarter. Institutional investors and hedge funds own 88.06% of the company's stock.

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.

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