Quest Diagnostics Incorporated (NYSE:DGX) Given Average Recommendation of "Moderate Buy" by Brokerages

Quest Diagnostics Incorporated (NYSE:DGX - Get Free Report) has earned a consensus rating of "Moderate Buy" from the sixteen brokerages that are currently covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $185.73.

Several research analysts have commented on the stock. Mizuho increased their price objective on shares of Quest Diagnostics from $178.00 to $189.00 and gave the company an "outperform" rating in a report on Wednesday, April 9th. JPMorgan Chase & Co. increased their target price on Quest Diagnostics from $180.00 to $190.00 and gave the company a "neutral" rating in a research report on Tuesday. Redburn Partners set a $195.00 target price on shares of Quest Diagnostics in a report on Wednesday, April 2nd. Evercore ISI upped their price objective on Quest Diagnostics from $175.00 to $180.00 and gave the company an "in-line" rating in a research report on Wednesday, April 23rd. Finally, Citigroup cut Quest Diagnostics from a "buy" rating to a "neutral" rating and set a $185.00 target price for the company. in a report on Tuesday, March 4th.

Quest Diagnostics Price Performance

Quest Diagnostics stock traded up $0.23 during mid-day trading on Friday, hitting $176.34. The stock had a trading volume of 569,890 shares, compared to its average volume of 963,499. Quest Diagnostics has a one year low of $135.35 and a one year high of $179.32. The company has a current ratio of 1.10, a quick ratio of 1.02 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $19.69 billion, a P/E ratio of 22.93, a P/E/G ratio of 2.16 and a beta of 0.52. The firm's 50 day moving average is $169.60 and its 200 day moving average is $162.46.

Quest Diagnostics (NYSE:DGX - Get Free Report) last released its earnings results on Tuesday, April 22nd. The medical research company reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.06. Quest Diagnostics had a return on equity of 15.07% and a net margin of 8.80%. The firm had revenue of $2.65 billion during the quarter, compared to analysts' expectations of $2.63 billion. On average, sell-side analysts forecast that Quest Diagnostics will post 9.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Quest Diagnostics

In other Quest Diagnostics news, CEO J. E. Davis sold 39,191 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $168.46, for a total transaction of $6,602,115.86. Following the completion of the transaction, the chief executive officer now directly owns 127,623 shares in the company, valued at approximately $21,499,370.58. This represents a 23.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Michael E. Prevoznik sold 528 shares of the firm's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $172.61, for a total transaction of $91,138.08. Following the completion of the transaction, the senior vice president now directly owns 39,031 shares in the company, valued at $6,737,140.91. This represents a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,250 shares of company stock worth $9,188,295. Company insiders own 8.16% of the company's stock.

Hedge Funds Weigh In On Quest Diagnostics

Hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its stake in Quest Diagnostics by 42.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,490,278 shares of the medical research company's stock worth $828,265,000 after purchasing an additional 1,637,525 shares during the last quarter. Norges Bank purchased a new stake in Quest Diagnostics during the 4th quarter valued at about $191,823,000. JPMorgan Chase & Co. raised its holdings in Quest Diagnostics by 60.4% in the 4th quarter. JPMorgan Chase & Co. now owns 2,433,913 shares of the medical research company's stock valued at $367,180,000 after acquiring an additional 916,898 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Quest Diagnostics by 83.7% in the 4th quarter. Alliancebernstein L.P. now owns 1,093,042 shares of the medical research company's stock worth $164,896,000 after purchasing an additional 497,995 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Quest Diagnostics during the 4th quarter worth approximately $67,447,000. Institutional investors and hedge funds 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.