Quest Diagnostics (NYSE:DGX) Reaches New 12-Month High Following Analyst Upgrade

Key Points

• Quest Diagnostics reached a new 52-week high after Truist Financial raised its price target from $250 to $260, although it maintained a hold rating. The stock traded as high as $248.84, while analysts’ consensus rating remains “Moderate Buy” with an average target of $237.08.
• The company reported quarterly results that exceeded expectations, with adjusted earnings of $3.12 per share versus the $2.82 consensus estimate and revenue of $3.04 billion, up 10.2% year over year.
• Quest Diagnostics declared a quarterly dividend of $0.86 per share, representing an annualized payout of $3.44 and a 1.4% yield. Insiders sold $8.3 million of stock over the past 90 days, while institutional investors own 88.06% of the company.

Quest Diagnostics Incorporated (NYSE:DGX - Get Free Report) reached a new 52-week high on Tuesday after Truist Financial raised their price target on the stock from $250.00 to $260.00. Truist Financial currently has a hold rating on the stock. Quest Diagnostics traded as high as $248.84 and last traded at $244.81, with a volume of 893281 shares. The stock had previously closed at $246.45.

Several other equities research analysts also recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Quest Diagnostics from $220.00 to $250.00 and gave the stock a "neutral" rating in a report on Tuesday, July 28th. Jefferies Financial Group restated a "buy" rating and issued a $245.00 target price on shares of Quest Diagnostics in a research note on Thursday, July 23rd. Barclays increased their price target on shares of Quest Diagnostics from $230.00 to $250.00 and gave the stock an "overweight" rating in a research report on Thursday, July 23rd. Argus set a $260.00 price objective on Quest Diagnostics in a report on Wednesday, July 29th. Finally, UBS Group upped their price objective on Quest Diagnostics from $232.00 to $245.00 and gave the company a "neutral" rating in a research note on Tuesday, September 8th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, Quest Diagnostics currently has a consensus rating of "Moderate Buy" and an average target price of $237.08.

Insider Buying and Selling at Quest Diagnostics

In related news, SVP Mark E. Delaney sold 1,600 shares of the firm's stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $235.18, for a total value of $376,288.00. Following the sale, the senior vice president owned 10,335 shares of the company's stock, valued at approximately $2,430,585.30. This trade represents a 13.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO J. E. Davis sold 10,000 shares of the company's stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $242.72, for a total value of $2,427,200.00. Following the transaction, the chief executive officer owned 122,423 shares of the company's stock, valued at approximately $29,714,510.56. The trade was a 7.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 34,277 shares of company stock worth $8,316,493 over the last ninety days. Company insiders own 0.88% of the company's stock.

Hedge Funds Weigh In On Quest Diagnostics

Institutional investors have recently modified their holdings of the company. Key Financial Inc boosted its stake in Quest Diagnostics by 1,728.6% during the 1st quarter. Key Financial Inc now owns 128 shares of the medical research company's stock valued at $25,000 after purchasing an additional 121 shares during the period. Sittner & Nelson LLC acquired a new stake in shares of Quest Diagnostics in the fourth quarter valued at approximately $29,000. Ancora Advisors LLC bought a new stake in shares of Quest Diagnostics during the second quarter valued at approximately $29,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Quest Diagnostics during the fourth quarter worth approximately $32,000. Finally, Frazier Financial Advisors LLC boosted its position in shares of Quest Diagnostics by 492.9% during the first quarter. Frazier Financial Advisors LLC now owns 166 shares of the medical research company's stock worth $33,000 after buying an additional 138 shares during the period. Institutional investors own 88.06% of the company's stock.

Quest Diagnostics Price Performance

The firm has a market capitalization of $27.02 billion, a P/E ratio of 25.99, a price-to-earnings-growth ratio of 2.25 and a beta of 0.55. The business has a fifty day moving average of $234.01 and a 200-day moving average of $210.90. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.46 and a current ratio of 1.59.

Quest Diagnostics (NYSE:DGX - Get Free Report) last announced its earnings results on Thursday, July 23rd. The medical research company reported $3.12 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.30. Quest Diagnostics had a return on equity of 16.01% and a net margin of 9.18%.The firm had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $2.97 billion. During the same quarter in the previous year, the business earned $2.62 EPS. The firm's revenue for the quarter was up 10.2% on a year-over-year basis. Quest Diagnostics has set its FY 2026 guidance at 11.050-11.250 EPS. On average, sell-side analysts forecast that Quest Diagnostics Incorporated will post 11.15 EPS for the current fiscal year.

Quest Diagnostics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 21st. Stockholders of record on Tuesday, October 6th will be given a dividend of $0.86 per share. The ex-dividend date is Tuesday, October 6th. This represents a $3.44 annualized dividend and a dividend yield of 1.4%. Quest Diagnostics's dividend payout ratio (DPR) is 36.52%.

Quest Diagnostics Company Profile

Quest Diagnostics Incorporated NYSE: DGX is a provider of diagnostic information services. The company performs laboratory testing used to help diagnose, monitor and manage diseases and other health conditions, serving physicians, hospitals, health plans, employers, government agencies and individual consumers.

Its services include routine blood and urine testing, advanced and esoteric diagnostics, molecular and genetic testing, anatomic pathology, cancer testing, drug screening and wellness-related assessments.

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