Quest Diagnostics Inc. (NYSE:DGX) has been assigned a $90.00 target price by analysts at Canaccord Genuity in a report issued on Tuesday. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity’s price objective would indicate a potential downside of 3.18% from the company’s current price.
DGX has been the topic of several other research reports. Zacks Investment Research raised Quest Diagnostics from a “hold” rating to a “buy” rating and set a $93.00 price objective on the stock in a report on Wednesday, September 21st. Bank of America Corp. reissued a “sell” rating and set a $78.00 price objective on shares of Quest Diagnostics in a report on Monday, November 14th. Barclays PLC set a $85.00 target price on Quest Diagnostics and gave the stock a “hold” rating in a research report on Monday, November 14th. Mizuho reaffirmed a “neutral” rating and set a $88.00 target price on shares of Quest Diagnostics in a research report on Wednesday, November 30th. Finally, Goldman Sachs Group Inc. raised Quest Diagnostics from a “neutral” rating to a “buy” rating and set a $102.00 target price for the company in a research report on Monday, December 12th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $88.71.
Quest Diagnostics (NYSE:DGX) opened at 92.96 on Tuesday. Quest Diagnostics has a 1-year low of $59.66 and a 1-year high of $93.84. The firm has a 50-day moving average price of $91.44 and a 200-day moving average price of $85.72. The firm has a market capitalization of $12.89 billion, a PE ratio of 19.73 and a beta of 0.66.
Quest Diagnostics (NYSE:DGX) last released its quarterly earnings data on Thursday, October 20th. The company reported $1.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.02. Quest Diagnostics had a return on equity of 14.57% and a net margin of 9.01%. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter last year, the business posted $1.28 EPS. Quest Diagnostics’s revenue for the quarter was up .3% on a year-over-year basis. Equities analysts expect that Quest Diagnostics will post $5.10 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 25th. Stockholders of record on Tuesday, January 10th will be given a $0.45 dividend. The ex-dividend date of this dividend is Friday, January 6th. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 1.94%. Quest Diagnostics’s dividend payout ratio (DPR) is 38.30%.
Several hedge funds and other institutional investors have recently bought and sold shares of DGX. Itau Unibanco Holding S.A. acquired a new position in Quest Diagnostics during the third quarter valued at $110,000. ETRADE Capital Management LLC raised its position in Quest Diagnostics by 1.6% in the third quarter. ETRADE Capital Management LLC now owns 32,576 shares of the company’s stock valued at $2,757,000 after buying an additional 499 shares during the period. D.A. Davidson & CO. increased its stake in shares of Quest Diagnostics by 314.0% in the third quarter. D.A. Davidson & CO. now owns 14,399 shares of the company’s stock valued at $1,216,000 after buying an additional 10,921 shares in the last quarter. Brinker Capital Inc. purchased a new stake in shares of Quest Diagnostics during the third quarter valued at approximately $491,000. Finally, Piedmont Investment Advisors LLC purchased a new stake in shares of Quest Diagnostics during the third quarter valued at approximately $4,894,000. 86.60% of the stock is owned by hedge funds and other institutional investors.
About Quest Diagnostics
Quest Diagnostics Incorporated is a provider of diagnostic information services. The Company operates through two businesses: Diagnostic Information Services and Diagnostic Solutions. The Company’s Diagnostic Information Services business develops and delivers diagnostic testing information and services to patients, physicians, health plans, hospitals, accountable care organizations (ACOs), integrated delivery networks (IDNs), other commercial laboratories, employers and others.