Quest Diagnostics (NYSE:DGX) Price Target Raised to $144.00 at Barclays

Quest Diagnostics (NYSE:DGX) had its price objective increased by Barclays from $138.00 to $144.00 in a report released on Thursday morning, Benzinga reports. They currently have an equal weight rating on the medical research company’s stock.

Several other brokerages have also issued reports on DGX. StockNews.com raised shares of Quest Diagnostics from a hold rating to a buy rating in a research note on Thursday. Jefferies Financial Group upgraded shares of Quest Diagnostics from a hold rating to a buy rating and upped their price objective for the stock from $140.00 to $155.00 in a report on Wednesday, February 7th. Leerink Partnrs reiterated a market perform rating on shares of Quest Diagnostics in a report on Monday, February 26th. Mizuho increased their target price on shares of Quest Diagnostics from $150.00 to $155.00 and gave the company a buy rating in a report on Wednesday. Finally, Citigroup raised their price objective on shares of Quest Diagnostics from $135.00 to $145.00 and gave the stock a neutral rating in a report on Wednesday. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $146.17.

Quest Diagnostics Price Performance

DGX stock traded down $0.59 during mid-day trading on Thursday, hitting $134.83. The stock had a trading volume of 246,448 shares, compared to its average volume of 1,053,414. The company has a current ratio of 0.97, a quick ratio of 1.20 and a debt-to-equity ratio of 0.59. Quest Diagnostics has a 52 week low of $119.59 and a 52 week high of $146.85. The firm has a market capitalization of $14.97 billion, a P/E ratio of 18.23, a P/E/G ratio of 2.97 and a beta of 0.91. The firm has a fifty day simple moving average of $128.89 and a 200 day simple moving average of $131.11.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings results on Tuesday, April 23rd. The medical research company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.18. Quest Diagnostics had a net margin of 9.11% and a return on equity of 15.52%. The firm had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.29 billion. During the same period in the prior year, the company posted $2.04 EPS. The company’s revenue was up 1.7% on a year-over-year basis. As a group, research analysts forecast that Quest Diagnostics will post 8.74 EPS for the current year.

Quest Diagnostics Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend was Friday, April 5th. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.71. Quest Diagnostics’s dividend payout ratio is presently 38.22%.

Insider Activity

In related news, SVP Michael E. Prevoznik sold 661 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $126.14, for a total transaction of $83,378.54. Following the sale, the senior vice president now owns 40,206 shares of the company’s stock, valued at $5,071,584.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, SVP Michael E. Prevoznik sold 661 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $126.14, for a total transaction of $83,378.54. Following the sale, the senior vice president now directly owns 40,206 shares of the company’s stock, valued at $5,071,584.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Vicky B. Gregg sold 2,500 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $126.64, for a total value of $316,600.00. Following the sale, the director now directly owns 16,329 shares in the company, valued at $2,067,904.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,150 shares of company stock worth $1,913,202. Company insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Quest Diagnostics

Hedge funds have recently bought and sold shares of the business. Czech National Bank increased its position in shares of Quest Diagnostics by 0.4% in the 4th quarter. Czech National Bank now owns 19,692 shares of the medical research company’s stock valued at $2,715,000 after purchasing an additional 75 shares during the last quarter. Mendota Financial Group LLC raised its holdings in shares of Quest Diagnostics by 6.2% in the 4th quarter. Mendota Financial Group LLC now owns 1,296 shares of the medical research company’s stock valued at $179,000 after purchasing an additional 76 shares in the last quarter. Exchange Traded Concepts LLC raised its position in shares of Quest Diagnostics by 1.9% during the 3rd quarter. Exchange Traded Concepts LLC now owns 4,417 shares of the medical research company’s stock worth $538,000 after acquiring an additional 84 shares in the last quarter. Montecito Bank & Trust lifted its stake in Quest Diagnostics by 4.7% during the fourth quarter. Montecito Bank & Trust now owns 1,909 shares of the medical research company’s stock worth $263,000 after purchasing an additional 85 shares during the last quarter. Finally, Naples Global Advisors LLC boosted its holdings in Quest Diagnostics by 1.5% in the fourth quarter. Naples Global Advisors LLC now owns 6,171 shares of the medical research company’s stock valued at $851,000 after purchasing an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

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.