Quest Diagnostics Inc. (DGX) Reaches New 12-Month High at $83.79
Shares of Quest Diagnostics Inc. (NYSE:DGX) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $83.79 and last traded at $83.00, with a volume of 382,391 shares traded. The stock had previously closed at $83.01.
Several research firms have issued reports on DGX. Zacks Investment Research raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating and set a $92.00 price target on the stock in a research report on Monday. Canaccord Genuity reaffirmed a “buy” rating on shares of Quest Diagnostics in a research report on Saturday, April 23rd. Robert W. Baird reaffirmed a “hold” rating on shares of Quest Diagnostics in a research report on Monday, May 2nd. KeyCorp reaffirmed a “hold” rating on shares of Quest Diagnostics in a research report on Sunday, May 22nd. Finally, Morgan Stanley reaffirmed a “sell” rating on shares of Quest Diagnostics in a research report on Tuesday, June 7th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. Quest Diagnostics presently has an average rating of “Hold” and an average price target of $77.86.
The company’s 50-day moving average is $79.13 and its 200-day moving average is $72.39. The firm has a market cap of $11.82 billion and a price-to-earnings ratio of 16.19.
Quest Diagnostics (NYSE:DGX) last issued its earnings results on Thursday, April 21st. The company reported $1.12 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.12. The firm earned $1.86 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same period in the prior year, the company earned $1.05 EPS. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. Analysts anticipate that Quest Diagnostics Inc. will post $5.10 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 20th. Shareholders of record on Wednesday, July 6th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.91%. The ex-dividend date is Friday, July 1st.
In other Quest Diagnostics news, SVP Catherine T. Doherty sold 29,550 shares of the company’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 completion of the sale, the senior vice president now owns 106,285 shares of the company’s stock, valued at $7,912,918.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Everett Cunningham sold 50,447 shares of the company’s stock in a transaction that occurred on Friday, May 6th. The stock was sold at an average price of $76.00, for a total value of $3,833,972.00. Following the completion of the sale, the senior vice president now directly owns 32,649 shares of the company’s stock, valued at approximately $2,481,324. The disclosure for this sale can be found here.
A number of hedge funds have recently modified their holdings of the company. Foresters Investment Management Company Inc. purchased a new stake in shares of Quest Diagnostics during the fourth quarter valued at about $5,336,000. Vanguard Group Inc. raised its stake in shares of 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 in the last quarter. Mizuho Trust & Banking Co. Ltd. raised its stake in shares of Quest Diagnostics by 1.3% in the fourth quarter. Mizuho Trust & Banking Co. Ltd. now owns 208,616 shares of the company’s stock valued at $14,966,000 after buying an additional 2,626 shares in the last quarter. GAM Holding AG raised its stake in shares of Quest Diagnostics by 0.6% in the fourth quarter. GAM Holding AG now owns 77,896 shares of the company’s stock valued at $5,542,000 after buying an additional 427 shares in the last quarter. Finally, Krasney Financial LLC raised its stake in shares of Quest Diagnostics by 0.5% in the fourth quarter. Krasney Financial LLC now owns 104,472 shares of the company’s stock valued at $7,432,000 after buying an additional 494 shares in the last quarter.
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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