Quest Diagnostics Inc (DGX) Sees Unusually-High Trading Volume
Quest Diagnostics Inc (NYSE:DGX) shares saw an uptick in trading volume on Friday . 1,625,499 shares were traded during mid-day trading, an increase of 48% from the previous session’s volume of 1,094,833 shares.The stock last traded at $83.07 and had previously closed at $82.36.
A number of equities research analysts recently commented on the company. Mizuho restated a “buy” rating and issued a $84.00 price target on shares of Quest Diagnostics in a report on Friday, June 3rd. Evercore ISI restated a “hold” rating and issued a $89.50 price target (up from $78.50) on shares of Quest Diagnostics in a report on Sunday, July 24th. Credit Suisse Group AG restated a “hold” rating on shares of Quest Diagnostics in a report on Tuesday, May 24th. Robert W. Baird restated a “hold” rating on shares of Quest Diagnostics in a report on Monday, May 16th. Finally, Morgan Stanley restated a “sell” rating on shares of Quest Diagnostics in a report on Tuesday, June 7th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company. Quest Diagnostics has a consensus rating of “Hold” and an average target price of $80.50.
The company has a market capitalization of $11.54 billion and a price-to-earnings ratio of 14.49. The firm’s 50 day moving average price is $84.57 and its 200-day moving average price is $76.96.
Quest Diagnostics (NYSE:DGX) last released its earnings results on Thursday, July 21st. The company reported $1.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.02. The firm earned $1.91 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter last year, the business posted $1.25 EPS. Quest Diagnostics’s revenue was down 1.0% compared to the same quarter last year. Analysts anticipate that Quest Diagnostics Inc will post $5.11 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 19th. Stockholders of record on Tuesday, October 4th will be issued a $0.40 dividend. The ex-dividend date is Friday, September 30th. This represents a $1.60 annualized dividend and a dividend yield of 1.93%.
In other news, Director Jeffrey M. Leiden sold 6,345 shares of Quest Diagnostics stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $85.62, for a total value of $543,258.90. Following the transaction, the director now owns 7,233 shares of the company’s stock, valued at approximately $619,289.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John B. Ziegler sold 1,000 shares of Quest Diagnostics 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.
An institutional investor recently raised its position in Quest Diagnostics stock. Bank of Montreal Can boosted its stake in shares of Quest Diagnostics Inc (NYSE:DGX) by 35.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 199,028 shares of the company’s stock after buying an additional 51,673 shares during the period. Bank of Montreal Can owned about 0.14% of Quest Diagnostics worth $14,159,000 as of its most recent filing with the SEC.
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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