Quest Diagnostics Inc. (DGX) Given a $90.00 Price Target by Canaccord Genuity Analysts
Quest Diagnostics Inc. (NYSE:DGX) has been given a $90.00 price target by research analysts at Canaccord Genuity in a note issued to investors on Wednesday. The firm presently has a a “buy” rating on the stock. Canaccord Genuity’s price target points to a potential upside of 9.64% from the company’s previous close.
DGX has been the topic of several other research reports. Mizuho reaffirmed a “neutral” rating and set a $86.00 price objective on shares of Quest Diagnostics in a report on Tuesday. Zacks Investment Research raised Quest Diagnostics from a “hold” rating to a “buy” rating and set a $92.00 price objective on the stock in a report on Monday, July 11th. Citigroup Inc. assumed coverage on Quest Diagnostics in a report on Friday, September 9th. They set a “neutral” rating and a $86.00 price objective on the stock. KeyCorp reaffirmed a “hold” rating on shares of Quest Diagnostics in a report on Sunday, May 22nd. Finally, Morgan Stanley reaffirmed a “sell” rating on shares of Quest Diagnostics in a report on Tuesday, June 7th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $82.55.
Shares of Quest Diagnostics (NYSE:DGX) traded up 1.273% during trading on Wednesday, hitting $83.135. The company had a trading volume of 772,249 shares. The stock’s 50-day moving average is $84.36 and its 200 day moving average is $77.97. Quest Diagnostics has a 52-week low of $59.66 and a 52-week high of $86.85. The firm has a market capitalization of $11.56 billion, a P/E ratio of 14.506 and a beta of 0.66.
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Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings data on Thursday, July 21st. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.02. The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.91 billion. Quest Diagnostics had a return on equity of 14.41% and a net margin of 11.02%. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.25 earnings per share. Equities research analysts predict that Quest Diagnostics will post $5.11 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 19th. Shareholders of record on Tuesday, October 4th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, September 30th. This represents a $1.60 dividend on an annualized basis and a yield of 1.95%. Quest Diagnostics’s dividend payout ratio (DPR) is presently 28.02%.
In other Quest Diagnostics news, Director Jenne K. Britell sold 4,000 shares of the stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $84.76, for a total value of $339,040.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John B. Ziegler sold 1,000 shares of the stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $84.36, for a total transaction of $84,360.00. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of DGX. Financial Architects Inc boosted its position in shares of Quest Diagnostics by 6.4% in the second quarter. Financial Architects Inc now owns 1,476 shares of the company’s stock worth $120,000 after buying an additional 89 shares during the period. Pinkerton Retirement Specialists LLC boosted its position in shares of Quest Diagnostics by 792.4% in the second quarter. Pinkerton Retirement Specialists LLC now owns 1,651 shares of the company’s stock worth $134,000 after buying an additional 1,466 shares during the period. Citizens Financial Group Inc RI boosted its position in shares of Quest Diagnostics by 1,610.2% in the first quarter. Citizens Financial Group Inc RI now owns 1,676 shares of the company’s stock worth $119,000 after buying an additional 1,578 shares during the period. Integrated Investment Consultants LLC boosted its position in shares of Quest Diagnostics by 10.4% in the second quarter. Integrated Investment Consultants LLC now owns 1,869 shares of the company’s stock worth $152,000 after buying an additional 176 shares during the period. Finally, Creative Planning boosted its position in shares of Quest Diagnostics by 13.5% in the second quarter. Creative Planning now owns 1,972 shares of the company’s stock worth $161,000 after buying an additional 234 shares during the period. 91.35% of the stock is owned by institutional investors.
About Quest Diagnostics
Quest Diagnostics Incorporated is a provider of diagnostic information services. The Company operates through two businesses: Diagnostic Information Services and Diagnostic Solutions. The Company’s Diagnostic Information Services business develops and delivers diagnostic testing information and services to patients, physicians, health plans, hospitals, accountable care organizations (ACOs), integrated delivery networks (IDNs), other commercial laboratories, employers and others.
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