Quest Diagnostics (NYSE:DGX) Coverage Initiated by Analysts at Evercore ISI (2024)

Evercore ISI began coverage on shares of Quest Diagnostics (NYSE:DGX – Free Report) in a research note issued to investors on Wednesday, Marketbeat.com reports. The brokerage issued an in-line rating and a $165.00 price objective on the medical research company’s stock.

Other equities research analysts also recently issued research reports about the company. Piper Sandler boosted their price objective on Quest Diagnostics from $145.00 to $150.00 and gave the company a neutral rating in a report on Monday, July 29th. Truist Financial upped their price objective on shares of Quest Diagnostics from $150.00 to $158.00 and gave the stock a hold rating in a report on Monday, July 15th. StockNews.com upgraded shares of Quest Diagnostics from a hold rating to a buy rating in a report on Tuesday, July 23rd. JPMorgan Chase & Co. upped their target price on shares of Quest Diagnostics from $152.00 to $155.00 and gave the stock a neutral rating in a report on Thursday, May 30th. Finally, Barclays lifted their price target on Quest Diagnostics from $144.00 to $154.00 and gave the company an equal weight rating in a research note on Tuesday. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $154.33.

Read Our Latest Stock Analysis on Quest Diagnostics

Quest Diagnostics Price Performance

Quest Diagnostics stock opened at $154.81 on Wednesday. The stock has a market capitalization of $17.20 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 2.69 and a beta of 0.89. Quest Diagnostics has a 52-week low of $119.59 and a 52-week high of $155.29. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.91 and a current ratio of 1.00. The stock’s 50 day moving average price is $145.30 and its two-hundred day moving average price is $137.53.

Quest Diagnostics (NYSE:DGX – Get Free Report) last posted its quarterly earnings results on Tuesday, July 23rd. The medical research company reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.04. Quest Diagnostics had a net margin of 8.99% and a return on equity of 15.35%. The business had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.39 billion. During the same period last year, the company posted $2.30 earnings per share. The business’s quarterly revenue was up 2.5% on a year-over-year basis. On average, equities analysts predict that Quest Diagnostics will post 8.89 earnings per share for the current year.

Quest Diagnostics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Friday, October 4th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $3.00 dividend on an annualized basis and a yield of 1.94%. Quest Diagnostics’s dividend payout ratio (DPR) is presently 40.38%.

Insider Transactions at Quest Diagnostics

In related news, SVP Mark E. Delaney sold 420 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $143.08, for a total transaction of $60,093.60. Following the completion of the transaction, the senior vice president now owns 5,019 shares in the company, valued at $718,118.52. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Quest Diagnostics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Quest Diagnostics by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 13,921,955 shares of the medical research company’s stock valued at $1,853,151,000 after buying an additional 345,754 shares during the last quarter. Victory Capital Management Inc. boosted its position in Quest Diagnostics by 1.8% during the fourth quarter. Victory Capital Management Inc. now owns 3,476,628 shares of the medical research company’s stock worth $479,357,000 after purchasing an additional 62,114 shares during the period. Wellington Management Group LLP increased its stake in shares of Quest Diagnostics by 0.7% in the fourth quarter. Wellington Management Group LLP now owns 2,632,326 shares of the medical research company’s stock worth $362,945,000 after purchasing an additional 18,533 shares in the last quarter. Davis Selected Advisers raised its position in shares of Quest Diagnostics by 0.4% in the second quarter. Davis Selected Advisers now owns 2,390,828 shares of the medical research company’s stock valued at $327,257,000 after purchasing an additional 9,665 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Quest Diagnostics by 6.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,109,515 shares of the medical research company’s stock valued at $288,758,000 after buying an additional 129,395 shares in the last quarter. 88.06% of the stock is owned by institutional investors.

About Quest Diagnostics

(Get Free Report)

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.

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