Quest Diagnostics (NYSE:DGX) Hits New 12-Month High - Should You Buy?

Key Points

• Quest Diagnostics shares reached a new 52-week high of $191.87, indicating a strong performance in the market this week.
• Analysts generally hold a positive outlook on Quest Diagnostics, with the stock receiving a consensus rating of "Moderate Buy" and a price target range between $190.00 and $210.00 from various firms.
• The company reported strong quarterly earnings with $2.62 EPS, surpassing expectations and reflecting a 15.2% increase in revenue compared to the previous year.

Quest Diagnostics Incorporated (NYSE:DGX - Get Free Report) shares hit a new 52-week high during trading on Monday . The stock traded as high as $191.87 and last traded at $191.08, with a volume of 79293 shares traded. The stock had previously closed at $189.51.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on DGX shares. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Quest Diagnostics in a report on Wednesday, October 8th. Barclays lifted their price target on shares of Quest Diagnostics from $185.00 to $190.00 and gave the company an "equal weight" rating in a research report on Thursday, October 2nd. Mizuho increased their price target on Quest Diagnostics from $190.00 to $210.00 and gave the company an "outperform" rating in a research note on Friday. Truist Financial set a $195.00 price target on shares of Quest Diagnostics in a report on Tuesday, October 14th. Finally, William Blair reaffirmed an "outperform" rating on shares of Quest Diagnostics in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $189.06.

Quest Diagnostics Trading Up 0.5%

The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 0.71. The firm has a fifty day simple moving average of $182.44 and a two-hundred day simple moving average of $176.22. The firm has a market cap of $21.31 billion, a PE ratio of 22.84, a PEG ratio of 2.51 and a beta of 0.56.

Quest Diagnostics (NYSE:DGX - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The medical research company reported $2.62 earnings per share for the quarter, beating the consensus estimate of $2.57 by $0.05. The firm had revenue of $2.76 billion for the quarter, compared to analysts' expectations of $2.73 billion. Quest Diagnostics had a return on equity of 15.24% and a net margin of 9.01%.The company's revenue was up 15.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.35 EPS. 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 Dividend Announcement

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

Insider Buying and Selling at Quest Diagnostics

In related news, SVP Michael E. Prevoznik sold 28,288 shares of the company's stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $187.12, for a total transaction of $5,293,250.56. Following the completion of the transaction, the senior vice president owned 38,117 shares in the company, valued at $7,132,453.04. This represents a 42.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Karthik Kuppusamy sold 8,269 shares of the business's 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 transaction, the senior vice president directly owned 10,660 shares of the company's stock, valued at $1,784,484. The trade was a 43.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 53,186 shares of company stock valued at $9,647,471. Corporate insiders own 8.16% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ethic Inc. lifted its position in Quest Diagnostics by 144.2% during the 3rd quarter. Ethic Inc. now owns 14,424 shares of the medical research company's stock worth $2,749,000 after acquiring an additional 8,518 shares during the period. Perigon Wealth Management LLC increased its position in shares of Quest Diagnostics by 4.5% in the third quarter. Perigon Wealth Management LLC now owns 1,275 shares of the medical research company's stock worth $243,000 after acquiring an additional 55 shares in the last quarter. Sowell Financial Services LLC increased its holdings in Quest Diagnostics by 61.5% in the 3rd quarter. Sowell Financial Services LLC now owns 4,045 shares of the medical research company's stock valued at $771,000 after purchasing an additional 1,541 shares in the last quarter. BankPlus Trust Department lifted its stake in shares of Quest Diagnostics by 6.3% during the third quarter. BankPlus Trust Department now owns 13,065 shares of the medical research company's stock worth $2,490,000 after purchasing an additional 776 shares in the last quarter. Finally, Apollon Wealth Management LLC raised its stake in Quest Diagnostics by 5.6% during the third quarter. Apollon Wealth Management LLC now owns 6,734 shares of the medical research company's stock valued at $1,283,000 after buying an additional 358 shares in the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

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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