Quest Diagnostics (NYSE:DGX) Stock Price Up 4.3% – Here’s Why

Shares of Quest Diagnostics Incorporated (NYSE:DGX) were up 4.3% on Tuesday . The stock traded as high as $246.56 and last traded at $248.0060. Approximately 324,636 shares changed hands during trading, a decline of 66% from the average daily volume of 949,656 shares. The stock had previously closed at $237.89.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. increased their price target on Quest Diagnostics from $220.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, July 28th. Wall Street Zen upgraded Quest Diagnostics from a “hold” rating to a “buy” rating in a research report on Tuesday, July 28th. Barclays increased their target price on Quest Diagnostics from $230.00 to $250.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $245.00 price target on shares of Quest Diagnostics in a research note on Thursday, July 23rd. Finally, Truist Financial upped their price target on shares of Quest Diagnostics from $225.00 to $250.00 and gave the company a “hold” rating in a report on Friday, July 24th. One research 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $236.31.

Quest Diagnostics Price Performance

The stock has a market cap of $27.31 billion, a price-to-earnings ratio of 26.26, a P/E/G ratio of 2.26 and a beta of 0.55. The company has a 50 day simple moving average of $231.68 and a 200-day simple moving average of $210.13. The company has a current ratio of 1.59, a quick ratio of 1.46 and a debt-to-equity ratio of 0.72.

Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings data on Thursday, July 23rd. The medical research company reported $3.12 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.30. Quest Diagnostics had a return on equity of 16.01% and a net margin of 9.18%.The company had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $2.97 billion. During the same period in the prior year, the firm earned $2.62 earnings per share. Quest Diagnostics’s revenue for the quarter was up 10.2% compared to the same quarter last year. Quest Diagnostics has set its FY 2026 guidance at 11.050-11.250 EPS. Research analysts expect that Quest Diagnostics Incorporated will post 11.15 EPS for the current year.

Quest Diagnostics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 21st. Investors of record on Tuesday, October 6th will be given 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 dividend payout ratio (DPR) is 36.52%.

Insider Activity

In other news, SVP Michael Prevoznik sold 22,677 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $243.11, for a total value of $5,513,005.47. Following the completion of the sale, the senior vice president owned 37,557 shares of the company’s stock, valued at approximately $9,130,482.27. This represents a 37.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO J. Davis sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $242.72, for a total transaction of $2,427,200.00. Following the sale, the chief executive officer directly owned 122,423 shares in the company, valued at $29,714,510.56. This trade represents a 7.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 34,277 shares of company stock valued at $8,316,493. 0.88% of the stock is owned by insiders.

Hedge Funds Weigh In On Quest Diagnostics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Concurrent Investment Advisors LLC lifted its position in Quest Diagnostics by 1.2% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 5,183 shares of the medical research company’s stock worth $1,099,000 after acquiring an additional 62 shares during the period. PFG Private Wealth Management LLC raised its stake in shares of Quest Diagnostics by 5.1% in the second quarter. PFG Private Wealth Management LLC now owns 1,453 shares of the medical research company’s stock worth $308,000 after purchasing an additional 71 shares during the last quarter. Hantz Financial Services Inc. lifted its holdings in shares of Quest Diagnostics by 9.6% during the fourth quarter. Hantz Financial Services Inc. now owns 835 shares of the medical research company’s stock worth $145,000 after purchasing an additional 73 shares during the period. Koshinski Asset Management Inc. boosted its position in Quest Diagnostics by 4.2% in the first quarter. Koshinski Asset Management Inc. now owns 2,062 shares of the medical research company’s stock valued at $404,000 after buying an additional 84 shares during the last quarter. Finally, Wedmont Private Capital boosted its position in Quest Diagnostics by 2.8% in the second quarter. Wedmont Private Capital now owns 3,120 shares of the medical research company’s stock valued at $647,000 after buying an additional 86 shares during the last quarter. Institutional investors own 88.06% of the company’s stock.

About Quest Diagnostics

Quest Diagnostics Incorporated (NYSE: DGX) is a provider of diagnostic information services. The company performs laboratory testing used to help diagnose, monitor and manage diseases and other health conditions, serving physicians, hospitals, health plans, employers, government agencies and individual consumers.

Its services include routine blood and urine testing, advanced and esoteric diagnostics, molecular and genetic testing, anatomic pathology, cancer testing, drug screening and wellness-related assessments.