Quest Diagnostics (DGX) Lifted to “Outperform” at Credit Suisse Group

Credit Suisse Group upgraded shares of Quest Diagnostics (NYSE:DGX) from a neutral rating to an outperform rating in a research report released on Tuesday, MarketBeat reports. They currently have $107.00 target price on the medical research company’s stock.

DGX has been the subject of several other research reports. Zacks Investment Research cut shares of Quest Diagnostics from a hold rating to a sell rating in a research report on Friday, October 27th. Mizuho set a $103.00 price objective on shares of Quest Diagnostics and gave the stock a buy rating in a research report on Thursday, October 19th. Canaccord Genuity boosted their price objective on shares of Quest Diagnostics from $100.00 to $105.00 and gave the stock a buy rating in a research report on Thursday, October 26th. Evercore ISI started coverage on shares of Quest Diagnostics in a research report on Thursday, January 4th. They set an in-line rating and a $103.00 target price for the company. Finally, Citigroup dropped their target price on shares of Quest Diagnostics from $110.00 to $98.00 and set a neutral rating for the company in a research report on Friday, October 20th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and nine have assigned a buy rating to the stock. The company has an average rating of Hold and an average target price of $107.40.

Quest Diagnostics (NYSE DGX) opened at $103.09 on Tuesday. The company has a quick ratio of 1.15, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. Quest Diagnostics has a 1 year low of $90.10 and a 1 year high of $112.96. The firm has a market cap of $13,835.75, a P/E ratio of 18.74, a P/E/G ratio of 1.82 and a beta of 0.67.

Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings data on Thursday, February 1st. The medical research company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.03. Quest Diagnostics had a net margin of 10.00% and a return on equity of 15.41%. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.93 billion. During the same quarter in the previous year, the company posted $1.31 EPS. Quest Diagnostics’s revenue was up 4.0% on a year-over-year basis. analysts expect that Quest Diagnostics will post 6.59 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 18th. Stockholders of record on Wednesday, April 4th will be issued a $0.50 dividend. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.45. The ex-dividend date is Tuesday, April 3rd. This represents a $2.00 annualized dividend and a dividend yield of 1.94%. Quest Diagnostics’s payout ratio is 32.73%.

In other news, EVP J. E. Davis sold 63,880 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $98.68, for a total value of $6,303,678.40. Following the completion of the transaction, the executive vice president now owns 101,423 shares of the company’s stock, valued at approximately $10,008,421.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Catherine T. Doherty sold 21,294 shares of the business’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $104.00, for a total transaction of $2,214,576.00. Following the completion of the transaction, the senior vice president now directly owns 90,709 shares of the company’s stock, valued at approximately $9,433,736. The disclosure for this sale can be found here. Insiders sold a total of 192,014 shares of company stock valued at $19,950,134 in the last three months. 1.75% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in DGX. WFG Advisors LP grew its holdings in shares of Quest Diagnostics by 45.3% in the 2nd quarter. WFG Advisors LP now owns 966 shares of the medical research company’s stock valued at $107,000 after buying an additional 301 shares during the period. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Quest Diagnostics in the 4th quarter valued at $118,000. Cerebellum GP LLC acquired a new position in shares of Quest Diagnostics in the 4th quarter valued at $128,000. Assetmark Inc. grew its holdings in shares of Quest Diagnostics by 139.5% in the 4th quarter. Assetmark Inc. now owns 1,473 shares of the medical research company’s stock valued at $145,000 after buying an additional 858 shares during the period. Finally, Icon Wealth Partners LLC acquired a new position in Quest Diagnostics in the 4th quarter worth $147,000. 90.22% of the stock is owned by institutional investors.

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Quest Diagnostics Company Profile

Quest Diagnostics Incorporated is a provider of diagnostic information services. The Company operates through two businesses: Diagnostic Information Services and Diagnostic Solutions. The Diagnostic Information Services business develops and delivers diagnostic testing information and services, providing insights that empower and enable a range of customers, including patients, clinicians, hospitals, integrated delivery networks (IDNs), health plans, employers and accountable care organizations (ACOs).

Analyst Recommendations for Quest Diagnostics (NYSE:DGX)

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