Quest Diagnostics (NYSE:DGX) Downgraded to “Hold” Rating by Wall Street Zen

Quest Diagnostics (NYSE:DGX) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Several other equities analysts have also recently issued reports on DGX. Redburn Atlantic began coverage on Quest Diagnostics in a research report on Wednesday, April 2nd. They set a “buy” rating and a $195.00 price target on the stock. Redburn Partners set a $195.00 target price on Quest Diagnostics in a report on Wednesday, April 2nd. Piper Sandler boosted their price objective on Quest Diagnostics from $180.00 to $200.00 and gave the stock a “neutral” rating in a report on Monday, April 28th. Evercore ISI raised their target price on shares of Quest Diagnostics from $175.00 to $180.00 and gave the stock an “in-line” rating in a report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Quest Diagnostics from $180.00 to $190.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Quest Diagnostics presently has a consensus rating of “Moderate Buy” and a consensus target price of $185.73.

Quest Diagnostics Trading Up 0.5%

NYSE:DGX opened at $174.48 on Friday. The stock has a market cap of $19.48 billion, a price-to-earnings ratio of 22.69, a PEG ratio of 2.16 and a beta of 0.49. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.02 and a current ratio of 1.10. Quest Diagnostics has a 1 year low of $135.47 and a 1 year high of $179.99. The business has a fifty day moving average of $171.53 and a 200-day moving average of $165.17.

Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings data on Tuesday, April 22nd. The medical research company reported $2.21 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.06. The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.63 billion. Quest Diagnostics had a net margin of 8.80% and a return on equity of 15.07%. Equities analysts predict that Quest Diagnostics will post 9.7 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO J. E. Davis sold 39,191 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $168.46, for a total value of $6,602,115.86. Following the completion of the sale, the chief executive officer now owns 127,623 shares of the company’s stock, valued at approximately $21,499,370.58. The trade was a 23.49% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Mark E. Delaney sold 874 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $175.72, for a total transaction of $153,579.28. Following the transaction, the senior vice president now directly owns 8,372 shares in the company, valued at approximately $1,471,127.84. The trade was a 9.45% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,263 shares of company stock worth $7,979,355. Corporate insiders own 8.16% of the company’s stock.

Institutional Trading of Quest Diagnostics

Hedge funds have recently added to or reduced their stakes in the business. BankPlus Wealth Management LLC boosted its position in shares of Quest Diagnostics by 2.5% in the first quarter. BankPlus Wealth Management LLC now owns 2,410 shares of the medical research company’s stock valued at $408,000 after acquiring an additional 59 shares during the period. Cullen Frost Bankers Inc. raised its stake in Quest Diagnostics by 5.9% during the 1st quarter. Cullen Frost Bankers Inc. now owns 1,059 shares of the medical research company’s stock valued at $179,000 after purchasing an additional 59 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in Quest Diagnostics by 1.6% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,843 shares of the medical research company’s stock valued at $580,000 after purchasing an additional 60 shares during the period. Net Worth Advisory Group grew its position in Quest Diagnostics by 1.0% in the 4th quarter. Net Worth Advisory Group now owns 6,495 shares of the medical research company’s stock worth $980,000 after purchasing an additional 62 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC grew its position in Quest Diagnostics by 0.6% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 11,513 shares of the medical research company’s stock worth $1,948,000 after purchasing an additional 63 shares during the last quarter. Institutional investors own 88.06% of the company’s stock.

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.