Quest Diagnostics (NYSE:DGX) Hits New 12-Month High - Here's Why

Key Points

• Quest Diagnostics shares reached a new 52-week high of $182.44 during mid-day trading, with a recent closing price of $181.74.
• The average target price for Quest Diagnostics stock was adjusted to $186.00 as several research firms provided upgraded ratings, with two analysts giving a Strong Buy rating.
• The company reported a quarterly EPS of $2.62, exceeding analyst estimates, while revenue increased by 15.2% year-over-year, totaling $2.76 billion.

Quest Diagnostics Incorporated (NYSE:DGX - Get Free Report) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $182.44 and last traded at $181.74, with a volume of 98376 shares. The stock had previously closed at $178.95.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on DGX. Truist Financial increased their target price on shares of Quest Diagnostics from $190.00 to $192.00 and gave the stock a "hold" rating in a research report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft increased their target price on shares of Quest Diagnostics from $160.00 to $178.00 and gave the stock a "hold" rating in a research report on Wednesday, July 23rd. Robert W. Baird increased their target price on shares of Quest Diagnostics from $191.00 to $194.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 23rd. UBS Group dropped their target price on shares of Quest Diagnostics from $176.00 to $175.00 and set a "neutral" rating for the company in a research report on Friday, July 18th. Finally, William Blair reaffirmed an "outperform" rating on shares of Quest Diagnostics in a research report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $186.00.

Quest Diagnostics Stock Performance

The company has a market capitalization of $20.50 billion, a PE ratio of 21.95, a PEG ratio of 2.39 and a beta of 0.46. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.99 and a current ratio of 1.09. The company has a 50 day moving average price of $174.74 and a 200 day moving average price of $172.02.

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 return on equity of 15.24% and a net margin of 9.01%.The company had revenue of $2.76 billion during the quarter, compared to analysts' expectations of $2.73 billion. During the same period in the prior year, the business posted $2.35 EPS. The business's revenue was up 15.2% on a year-over-year basis. Quest Diagnostics has set its FY 2025 guidance at 9.630-9.830 EPS. Equities analysts forecast that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Friday, October 3rd will be paid a dividend of $0.80 per share. The ex-dividend date is Friday, October 3rd. This represents a $3.20 annualized dividend and a yield of 1.7%. Quest Diagnostics's dividend payout ratio (DPR) is 38.32%.

Insider Buying and Selling at Quest Diagnostics

In other Quest Diagnostics news, SVP Karthik Kuppusamy sold 8,269 shares of the stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $167.40, for a total value of $1,384,230.60. Following the sale, the senior vice president directly owned 10,660 shares of the company's stock, valued at $1,784,484. This trade represents a 43.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Patrick Plewman sold 5,535 shares of the firm's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $175.00, for a total value of $968,625.00. Following the transaction, the senior vice president directly owned 19,219 shares in the company, valued at $3,363,325. This trade represents a 22.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,014 shares of company stock worth $2,728,556 over the last 90 days. 8.16% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Quest Diagnostics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Brighton Jones LLC acquired a new position in shares of Quest Diagnostics in the fourth quarter valued at $323,000. Townsquare Capital LLC grew its holdings in shares of Quest Diagnostics by 59.7% during the fourth quarter. Townsquare Capital LLC now owns 2,649 shares of the medical research company's stock worth $400,000 after purchasing an additional 990 shares during the last quarter. Forum Financial Management LP boosted its holdings in Quest Diagnostics by 72.9% in the fourth quarter. Forum Financial Management LP now owns 3,355 shares of the medical research company's stock valued at $506,000 after acquiring an additional 1,415 shares during the last quarter. Norinchukin Bank The boosted its holdings in Quest Diagnostics by 9.1% in the fourth quarter. Norinchukin Bank The now owns 4,962 shares of the medical research company's stock valued at $749,000 after acquiring an additional 412 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its holdings in Quest Diagnostics by 2.0% in the fourth quarter. MetLife Investment Management LLC now owns 29,528 shares of the medical research company's stock valued at $4,455,000 after acquiring an additional 591 shares during the last quarter. 88.06% of the stock is currently owned by institutional investors and hedge funds.

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.

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