Quest Diagnostics Inc. (DGX) Hits New 1-Year High at $85.16
Quest Diagnostics Inc. (NYSE:DGX)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $85.16 and last traded at $85.11, with a volume of 393,127 shares trading hands. The stock had previously closed at $84.31.
A number of brokerages recently commented on DGX. Evercore ISI restated a “hold” rating and set a $89.50 target price (up previously from $78.50) on shares of Quest Diagnostics in a report on Sunday, July 24th. Jefferies Group upped their target price on Quest Diagnostics from $75.00 to $86.00 and gave the company a “hold” rating in a report on Friday, July 22nd. Zacks Investment Research raised Quest Diagnostics from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a research note on Friday, July 22nd. Jyske Bank cut Quest Diagnostics from a “neutral” rating to a “sell” rating in a research note on Friday, June 24th. Finally, Mizuho reaffirmed a “buy” rating and issued a $84.00 price target on shares of Quest Diagnostics in a research note on Friday, June 3rd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $80.28.
The company has a 50-day moving average of $81.14 and a 200-day moving average of $73.50. The company has a market cap of $12.01 billion and a PE ratio of 15.07.
Quest Diagnostics (NYSE:DGX) last released its quarterly earnings results on Thursday, July 21st. The company reported $1.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.02. The company earned $1.91 billion during the quarter, compared to the consensus estimate of $1.91 billion. The company’s revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.25 earnings per share. On average, analysts expect that Quest Diagnostics Inc. will post $5.11 EPS for the current fiscal year.
The business 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. This represents a $1.60 annualized dividend and a dividend yield of 1.85%. The ex-dividend date was Friday, July 1st.
In related news, Director John B. Ziegler sold 1,000 shares of the business’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $84.36, for a total transaction of $84,360.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Everett Cunningham sold 50,447 shares of the business’s stock in a transaction 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 transaction, the senior vice president now owns 32,649 shares in the company, valued at $2,481,324. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have made changes to their positions in the company. Foresters Investment Management Company Inc. acquired a new position in shares of Quest Diagnostics during the fourth quarter valued at $5,336,000. Vanguard Group Inc. increased its position 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 during the period. Mizuho Trust & Banking Co. Ltd. increased its position 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 during the period. Mitsubishi UFJ Kokusai Asset Management CO. LTD. increased its position in shares of 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 valued at $1,357,000 after buying an additional 1,089 shares during the period. Finally, Gulf International Bank UK Ltd increased its position in shares of Quest Diagnostics by 0.6% in the fourth quarter. Gulf International Bank UK Ltd now owns 43,328 shares of the company’s stock valued at $3,082,000 after buying an additional 250 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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