Quest Diagnostics (NYSE:DGX) Price Target Raised to $182.00

Quest Diagnostics (NYSE:DGX) had its price target hoisted by analysts at Bank of America from $179.00 to $182.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the medical research company’s stock. Bank of America‘s price objective would indicate a potential upside of 16.18% from the company’s current price.

A number of other analysts have also issued reports on the stock. Evercore ISI assumed coverage on shares of Quest Diagnostics in a research note on Wednesday, August 28th. They set an “in-line” rating and a $165.00 target price for the company. Truist Financial upped their target price on shares of Quest Diagnostics from $158.00 to $165.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. UBS Group lifted their price target on shares of Quest Diagnostics from $165.00 to $166.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Jefferies Financial Group reissued a “buy” rating and issued a $185.00 price objective (up previously from $175.00) on shares of Quest Diagnostics in a research note on Tuesday. Finally, Citigroup raised their price objective on Quest Diagnostics from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Nine research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $168.92.

Quest Diagnostics Trading Up 0.4 %

NYSE:DGX traded up $0.59 during midday trading on Friday, hitting $156.66. 92,687 shares of the company traded hands, compared to its average volume of 911,264. The firm has a market capitalization of $17.49 billion, a P/E ratio of 20.99, a P/E/G ratio of 2.69 and a beta of 0.89. The firm’s fifty day moving average is $156.48 and its 200-day moving average is $150.19. Quest Diagnostics has a 12-month low of $123.04 and a 12-month high of $165.32. The company has a current ratio of 1.25, a quick ratio of 1.17 and a debt-to-equity ratio of 0.83.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings data on Tuesday, October 22nd. The medical research company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.04. The business had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.43 billion. Quest Diagnostics had a net margin of 8.82% and a return on equity of 15.25%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.22 earnings per share. On average, sell-side analysts predict that Quest Diagnostics will post 8.9 EPS for the current year.

Insiders Place Their Bets

In other Quest Diagnostics news, SVP Karthik Kuppusamy sold 1,775 shares of Quest Diagnostics stock in a transaction on Monday, October 28th. The shares were sold at an average price of $156.92, for a total value of $278,533.00. Following the transaction, the senior vice president now directly owns 9,734 shares of the company’s stock, valued at approximately $1,527,459.28. The trade was a 15.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Michael J. Deppe sold 18,755 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $154.05, for a total value of $2,889,207.75. Following the sale, the chief accounting officer now owns 34,941 shares of the company’s stock, valued at approximately $5,382,661.05. This represents a 34.93 % decrease in their position. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Avestar Capital LLC increased its stake in Quest Diagnostics by 1.1% during the 3rd quarter. Avestar Capital LLC now owns 6,288 shares of the medical research company’s stock valued at $976,000 after purchasing an additional 71 shares in the last quarter. Legacy Financial Advisors Inc. increased its position in shares of Quest Diagnostics by 1.6% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 4,697 shares of the medical research company’s stock valued at $643,000 after acquiring an additional 72 shares during the period. Empirical Finance LLC raised its stake in Quest Diagnostics by 2.0% in the 3rd quarter. Empirical Finance LLC now owns 3,948 shares of the medical research company’s stock worth $613,000 after acquiring an additional 76 shares during the last quarter. Meeder Advisory Services Inc. lifted its position in Quest Diagnostics by 4.9% during the 2nd quarter. Meeder Advisory Services Inc. now owns 1,795 shares of the medical research company’s stock worth $246,000 after acquiring an additional 84 shares during the period. Finally, Raymond James Trust N.A. grew its stake in Quest Diagnostics by 3.5% during the 3rd quarter. Raymond James Trust N.A. now owns 2,572 shares of the medical research company’s stock valued at $399,000 after purchasing an additional 88 shares during the last quarter. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

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.