Quest Diagnostics (NYSE:DGX) Downgraded by StockNews.com

StockNews.com cut shares of Quest Diagnostics (NYSE:DGXGet Rating) from a buy rating to a hold rating in a report published on Tuesday morning.

A number of other research firms have also weighed in on DGX. Wells Fargo & Company upped their target price on shares of Quest Diagnostics from $145.00 to $150.00 and gave the stock an equal weight rating in a report on Monday, April 25th. UBS Group upped their target price on shares of Quest Diagnostics from $139.00 to $150.00 in a report on Sunday, April 24th. Citigroup lowered shares of Quest Diagnostics from a buy rating to a neutral rating and decreased their target price for the stock from $175.00 to $140.00 in a report on Monday, April 4th. Finally, Bank of America decreased their target price on shares of Quest Diagnostics from $166.00 to $163.00 and set a buy rating on the stock in a report on Friday, April 22nd. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $150.33.

NYSE DGX opened at $137.42 on Tuesday. The company’s 50 day moving average is $136.17 and its 200-day moving average is $141.85. Quest Diagnostics has a 12-month low of $125.33 and a 12-month high of $174.16. The company has a quick ratio of 1.34, a current ratio of 1.46 and a debt-to-equity ratio of 0.62. The firm has a market cap of $16.13 billion, a P/E ratio of 9.15 and a beta of 1.05.

Quest Diagnostics (NYSE:DGXGet Rating) last posted its quarterly earnings results on Thursday, April 21st. The medical research company reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.91 by $0.31. Quest Diagnostics had a net margin of 17.61% and a return on equity of 27.08%. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same quarter in the previous year, the firm posted $3.76 earnings per share. The company’s quarterly revenue was down 4.0% compared to the same quarter last year. Equities analysts expect that Quest Diagnostics will post 9.32 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 20th. Stockholders of record on Wednesday, July 6th will be issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend is Tuesday, July 5th. Quest Diagnostics’s payout ratio is 17.58%.

In other news, CEO Stephen H. Rusckowski sold 282,408 shares of the company’s stock in a transaction on Tuesday, May 24th. The shares were sold at an average price of $140.12, for a total value of $39,571,008.96. Following the completion of the sale, the chief executive officer now owns 334,833 shares of the company’s stock, valued at approximately $46,916,799.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael E. Prevoznik sold 50,604 shares of the company’s stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $139.97, for a total transaction of $7,083,041.88. Following the completion of the sale, the senior vice president now directly owns 39,224 shares of the company’s stock, valued at approximately $5,490,183.28. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in DGX. Mystic Asset Management Inc. purchased a new stake in shares of Quest Diagnostics in the 4th quarter valued at $25,000. Sandy Cove Advisors LLC purchased a new stake in Quest Diagnostics during the 1st quarter valued at $28,000. Wagner Wealth Management LLC purchased a new stake in Quest Diagnostics during the 4th quarter valued at $35,000. Anfield Capital Management LLC boosted its position in Quest Diagnostics by 1,077.8% during the 4th quarter. Anfield Capital Management LLC now owns 212 shares of the medical research company’s stock valued at $37,000 after buying an additional 194 shares during the period. Finally, Comprehensive Financial Consultants Institutional Inc. purchased a new stake in Quest Diagnostics during the 4th quarter valued at $38,000. 89.89% of the stock is owned by institutional investors.

About Quest Diagnostics (Get Rating)

Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic information services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.

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