Quest Diagnostics (NYSE:DGX) Reaches New 12-Month High - Still a Buy?

Quest Diagnostics Incorporated (NYSE:DGX - Get Free Report) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $180.50 and last traded at $180.05, with a volume of 98431 shares traded. The stock had previously closed at $179.04.

Analyst Ratings Changes

A number of analysts recently issued reports on DGX shares. Redburn Atlantic started coverage on shares of Quest Diagnostics in a research report on Wednesday, April 2nd. They set a "buy" rating and a $195.00 target price on the stock. Citigroup lowered shares of Quest Diagnostics from a "buy" rating to a "neutral" rating and set a $185.00 price target on the stock. in a report on Tuesday, March 4th. Truist Financial lifted their price target on shares of Quest Diagnostics from $182.00 to $190.00 and gave the company a "hold" rating in a report on Wednesday, April 23rd. Redburn Partners set a $195.00 price target on shares of Quest Diagnostics in a report on Wednesday, April 2nd. Finally, Robert W. Baird lifted their price target on shares of Quest Diagnostics from $191.00 to $194.00 and gave the company an "outperform" rating in a report on Wednesday, April 23rd. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $185.73.

Quest Diagnostics Trading Up 0.6%

The stock has a market cap of $20.10 billion, a price-to-earnings ratio of 23.41, a price-to-earnings-growth ratio of 2.16 and a beta of 0.49. The firm's 50 day moving average is $172.77 and its two-hundred day moving average is $165.67. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.82.

Quest Diagnostics (NYSE:DGX - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The medical research company reported $2.21 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.06. The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.63 billion. Quest Diagnostics had a net margin of 8.80% and a return on equity of 15.07%. Equities analysts anticipate that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 21st. Shareholders of record on Monday, July 7th will be paid a $0.80 dividend. The ex-dividend date is Monday, July 7th. This represents a $3.20 annualized dividend and a dividend yield of 1.78%. Quest Diagnostics's payout ratio is currently 40.46%.

Insider Buying and Selling at Quest Diagnostics

In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 4,643 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $170.00, for a total value of $789,310.00. Following the completion of the sale, the senior vice president now directly owns 38,117 shares in the company, valued at $6,479,890. This represents a 10.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO J. E. Davis sold 39,191 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $168.46, for a total value of $6,602,115.86. Following the completion of the sale, the chief executive officer now owns 127,623 shares of the company's stock, valued at $21,499,370.58. This trade represents a 23.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,263 shares of company stock worth $7,979,355. 8.16% of the stock is owned by company insiders.

Institutional Investors Weigh In On Quest Diagnostics

A number of institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its position in Quest Diagnostics by 9.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,984,238 shares of the medical research company's stock worth $1,012,534,000 after purchasing an additional 493,960 shares during the period. Geode Capital Management LLC boosted its holdings in Quest Diagnostics by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 2,690,021 shares of the medical research company's stock worth $404,764,000 after buying an additional 73,368 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Quest Diagnostics by 60.4% during the fourth quarter. JPMorgan Chase & Co. now owns 2,433,913 shares of the medical research company's stock worth $367,180,000 after buying an additional 916,898 shares in the last quarter. Boston Partners bought a new stake in Quest Diagnostics during the first quarter worth approximately $388,724,000. Finally, Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in Quest Diagnostics by 1.2% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,268,990 shares of the medical research company's stock worth $342,300,000 after buying an additional 26,214 shares in the last quarter. 88.06% of the stock is currently owned by institutional investors and hedge funds.

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.