Quest Diagnostics Inc. (DGX) Reaches New 52-Week High at $81.69
Quest Diagnostics Inc. (NYSE:DGX)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $81.69 and last traded at $81.09, with a volume of 677,422 shares trading hands. The stock had previously closed at $81.19.
DGX has been the subject of a number of research reports. KeyCorp reissued a “hold” rating on shares of Quest Diagnostics in a research note on Sunday, May 22nd. Jyske Bank lowered Quest Diagnostics from a “neutral” rating to a “sell” rating in a research note on Friday, June 24th. Goldman Sachs Group Inc. increased their price target on Quest Diagnostics to $71.00 in a research note on Wednesday, March 23rd. Zacks Investment Research raised Quest Diagnostics from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a research note on Wednesday, March 30th. Finally, Morgan Stanley reaffirmed a “sell” rating on shares of Quest Diagnostics in a research note on Tuesday, June 7th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $76.14.
The firm has a market capitalization of $11.63 billion and a PE ratio of 15.94. The stock has a 50 day moving average price of $78.39 and a 200 day moving average price of $72.06.
Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings data on Thursday, April 21st. The company reported $1.12 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.12. During the same quarter last year, the firm posted $1.05 earnings per share. The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Quest Diagnostics’s quarterly revenue was up 1.3% on a year-over-year basis. On average, equities research analysts anticipate that Quest Diagnostics Inc. will post $5.09 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 20th. Shareholders of record on Wednesday, July 6th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, July 1st. This represents a $1.60 annualized dividend and a yield of 1.95%.
In other Quest Diagnostics news, SVP Everett Cunningham sold 56,312 shares of the business’s stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $76.26, for a total transaction of $4,294,353.12. Following the completion of the sale, the senior vice president now directly owns 74,949 shares in the company, valued at approximately $5,715,610.74. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Catherine T. Doherty sold 29,550 shares of the business’s stock in a transaction that occurred on Monday, April 25th. The stock was sold at an average price of $74.45, for a total value of $2,199,997.50. Following the sale, the senior vice president now owns 106,285 shares of the company’s stock, valued at $7,912,918.25. The disclosure for this sale can be found here.
A number of large investors have recently bought and sold shares of the company. Tamarack Advisers LP purchased a new stake in Quest Diagnostics during the fourth quarter valued at approximately $46,241,000. Vanguard Group Inc. raised its stake in Quest Diagnostics by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 12,308,731 shares of the company’s stock valued at $875,643,000 after buying an additional 341,182 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new stake in Quest Diagnostics during the fourth quarter valued at approximately $10,851,000. Bank of Montreal Can raised its stake in Quest Diagnostics by 35.1% in the fourth quarter. Bank of Montreal Can now owns 199,028 shares of the company’s stock valued at $14,159,000 after buying an additional 51,673 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Quest Diagnostics by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,446,118 shares of the company’s stock valued at $102,885,000 after buying an additional 49,332 shares during the period.
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.
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