Quest Diagnostics Inc. (DGX) Hits New 52-Week High at $81.69
Quest Diagnostics Inc. (NYSE:DGX) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $81.69 and last traded at $81.09, with a volume of 677,422 shares changing hands. The stock had previously closed at $81.19.
DGX has been the subject of a number of research reports. Goldman Sachs Group Inc. lifted their target price on shares of Quest Diagnostics to $71.00 in a research note on Wednesday, March 23rd. Credit Suisse Group AG started coverage on shares of Quest Diagnostics in a research note on Tuesday, March 15th. They issued a “neutral” rating and a $72.00 price objective for the company. Barclays PLC lifted their price objective on shares of Quest Diagnostics from $72.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, April 22nd. Zacks Investment Research lowered shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Tuesday, April 5th. Finally, Mizuho reaffirmed a “buy” rating and issued a $84.00 price objective on shares of Quest Diagnostics in a research note on Friday, June 3rd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $76.14.
The stock has a 50-day moving average of $78.08 and a 200-day moving average of $71.91. The company has a market cap of $11.49 billion and a P/E ratio of 15.74.
Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings data 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. During the same period in the prior year, the company earned $1.05 EPS. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.82 billion. The firm’s revenue was up 1.3% on a year-over-year basis. Analysts forecast that Quest Diagnostics Inc. will post $5.09 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 20th. Stockholders of record on Wednesday, July 6th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Friday, July 1st.
In other news, SVP Catherine T. Doherty sold 29,550 shares of the stock in a transaction on Monday, April 25th. The shares were sold at an average price of $74.45, for a total transaction 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jenne K. Britell sold 8,000 shares of the stock in a transaction on Thursday, May 12th. The stock was sold at an average price of $75.68, for a total transaction of $605,440.00. Following the sale, the director now directly owns 6,025 shares of the company’s stock, valued at approximately $455,972. The disclosure for this sale can be found here.
Other large investors recently modified their holdings of the company. World Asset Management Inc increased its stake in shares of Quest Diagnostics by 0.5% in the fourth quarter. World Asset Management Inc now owns 16,367 shares of the company’s stock valued at $1,164,000 after buying an additional 82 shares in the last quarter. Gulf International Bank UK Ltd increased its position in Quest Diagnostics by 0.6% in the fourth quarter. Gulf International Bank UK Ltd now owns 43,328 shares of the company’s stock worth $3,082,000 after buying an additional 250 shares during the period. GAM Holding AG increased its position in Quest Diagnostics by 0.6% in the fourth quarter. GAM Holding AG now owns 77,896 shares of the company’s stock worth $5,542,000 after buying an additional 427 shares during the period. Krasney Financial LLC increased its position in Quest Diagnostics by 0.5% in the fourth quarter. Krasney Financial LLC now owns 104,472 shares of the company’s stock worth $7,432,000 after buying an additional 494 shares during the period. Finally, Strs Ohio increased its position in Quest Diagnostics by 1.6% in the fourth quarter. Strs Ohio now owns 40,615 shares of the company’s stock worth $2,889,000 after buying an additional 647 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.