Quest Diagnostics Inc. (DGX) Sets New 1-Year High at $85.16
Quest Diagnostics Inc. (NYSE:DGX)’s share price hit a new 52-week high on Thursday . The stock traded as high as $85.16 and last traded at $85.11, with a volume of 393,127 shares changing hands. The stock had previously closed at $84.31.
Several equities analysts recently weighed in on DGX shares. KeyCorp restated a “hold” rating on shares of Quest Diagnostics in a report on Sunday, May 22nd. Jefferies Group upped their target price on shares of Quest Diagnostics from $75.00 to $86.00 and gave the company a “hold” rating in a research note on Friday, July 22nd. Jyske Bank downgraded shares of Quest Diagnostics from a “neutral” rating to a “sell” rating in a research note on Friday, June 24th. Zacks Investment Research raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating and set a $80.00 target price 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 research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. Quest Diagnostics presently has a consensus rating of “Hold” and an average target price of $80.28.
The firm has a market capitalization of $11.86 billion and a price-to-earnings ratio of 14.89. The firm’s 50-day moving average price is $80.73 and its 200-day moving average price is $73.28.
Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Thursday, July 21st. The company reported $1.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.32 by $0.02. The firm earned $1.91 billion during the quarter, compared to analyst estimates of $1.91 billion. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.25 EPS. On average, analysts forecast that Quest Diagnostics Inc. will post $5.11 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 20th. Stockholders of record on Wednesday, July 6th were given a $0.40 dividend. The ex-dividend date was Friday, July 1st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.88%.
In other news, SVP Everett Cunningham sold 50,447 shares of the business’s stock in a transaction that occurred on Friday, May 6th. The shares were sold at an average price of $76.00, for a total value of $3,833,972.00. Following the transaction, the senior vice president now owns 32,649 shares in the company, valued at approximately $2,481,324. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John B. Ziegler sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $84.36, for a total transaction of $84,360.00. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have recently modified their holdings of the company. Foresters Investment Management Company Inc. purchased a new position in shares of Quest Diagnostics during the fourth quarter worth about $5,336,000. Vanguard Group Inc. increased its position in Quest Diagnostics by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 12,308,731 shares of the company’s stock worth $875,643,000 after buying an additional 341,182 shares during the last quarter. Mizuho Trust & Banking Co. Ltd. increased its position in Quest Diagnostics by 1.3% in the fourth quarter. Mizuho Trust & Banking Co. Ltd. now owns 208,616 shares of the company’s stock worth $14,966,000 after buying an additional 2,626 shares during the last quarter. Quantitative Investment Management LLC bought a new position in Quest Diagnostics during the fourth quarter worth about $1,458,000. Finally, Mitsubishi UFJ Kokusai Asset Management CO. LTD. increased its position in Quest Diagnostics by 6.1% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 19,073 shares of the company’s stock worth $1,357,000 after buying an additional 1,089 shares during 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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