Quest Diagnostics (NYSE:DGX) Reaches New 52-Week High – Here’s Why

Quest Diagnostics Incorporated (NYSE:DGX)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $241.01 and last traded at $241.07, with a volume of 36950 shares changing hands. The stock had previously closed at $236.25.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Jefferies Financial Group reissued a “buy” rating and set a $245.00 target price on shares of Quest Diagnostics in a research note on Thursday, July 23rd. Robert W. Baird upped their target price on shares of Quest Diagnostics from $236.00 to $255.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Truist Financial raised their target price on shares of Quest Diagnostics from $225.00 to $250.00 and gave the stock a “hold” rating in a research report on Friday, July 24th. Wall Street Zen raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a research note on Tuesday, July 28th. Finally, Argus set a $260.00 price target on Quest Diagnostics in a report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $235.31.

Quest Diagnostics Price Performance

The firm has a fifty day moving average of $218.52 and a two-hundred day moving average of $204.87. The stock has a market capitalization of $26.69 billion, a P/E ratio of 25.67, a P/E/G ratio of 2.23 and a beta of 0.56. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.59 and a quick ratio of 1.46.

Quest Diagnostics (NYSE:DGX) last posted its earnings results on Thursday, July 23rd. The medical research company reported $3.12 EPS for the quarter, beating analysts’ consensus estimates of $2.82 by $0.30. Quest Diagnostics had a net margin of 9.18% and a return on equity of 16.01%. The business had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $2.97 billion. During the same quarter last year, the firm posted $2.62 EPS. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. Quest Diagnostics has set its FY 2026 guidance at 11.050-11.250 EPS. On average, analysts predict that Quest Diagnostics Incorporated will post 11.15 EPS for the current year.

Quest Diagnostics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 21st. Investors of record on Tuesday, October 6th will be paid a $0.86 dividend. The ex-dividend date of this dividend is Tuesday, October 6th. This represents a $3.44 dividend on an annualized basis and a yield of 1.4%. Quest Diagnostics’s payout ratio is 36.52%.

Insider Transactions at Quest Diagnostics

In other news, CEO J. E. Davis sold 10,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $194.14, for a total value of $1,941,400.00. Following the sale, the chief executive officer directly owned 132,423 shares in the company, valued at approximately $25,708,601.22. This trade represents a 7.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Karthik Kuppusamy sold 8,147 shares of Quest Diagnostics stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $200.00, for a total transaction of $1,629,400.00. Following the completion of the transaction, the senior vice president directly owned 13,510 shares in the company, valued at approximately $2,702,000. The trade was a 37.62% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 19,747 shares of company stock valued at $3,947,088. Corporate insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On Quest Diagnostics

Several institutional investors have recently bought and sold shares of the company. Moneta Group Investment Advisors LLC increased its stake in Quest Diagnostics by 3.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,387 shares of the medical research company’s stock valued at $241,000 after buying an additional 50 shares during the period. HB Wealth Management LLC lifted its stake in shares of Quest Diagnostics by 0.5% in the 4th quarter. HB Wealth Management LLC now owns 11,292 shares of the medical research company’s stock worth $1,960,000 after acquiring an additional 58 shares during the period. Ossiam boosted its holdings in shares of Quest Diagnostics by 6.1% in the third quarter. Ossiam now owns 1,059 shares of the medical research company’s stock valued at $202,000 after acquiring an additional 61 shares in the last quarter. Independent Advisor Alliance boosted its holdings in shares of Quest Diagnostics by 1.6% in the fourth quarter. Independent Advisor Alliance now owns 4,298 shares of the medical research company’s stock valued at $746,000 after acquiring an additional 66 shares in the last quarter. Finally, Checchi Capital Advisers LLC increased its stake in shares of Quest Diagnostics by 5.6% during the fourth quarter. Checchi Capital Advisers LLC now owns 1,326 shares of the medical research company’s stock worth $230,000 after acquiring an additional 70 shares during the period. 88.06% of the stock is currently owned by institutional investors and hedge funds.

About Quest Diagnostics

Quest Diagnostics (NYSE: DGX) is a leading provider of diagnostic information services that supports clinical decision-making for patients, physicians and healthcare organizations. The company operates a network of clinical laboratories and patient service centers that perform a broad range of laboratory tests and diagnostic assays used in routine care, disease diagnosis, monitoring and screening.

Its services span core clinical laboratory testing, anatomic pathology, molecular and genomic diagnostics, infectious disease testing and toxicology.