Quest Diagnostics’ (DGX) Neutral Rating Reaffirmed at Piper Sandler

Piper Sandler restated their neutral rating on shares of Quest Diagnostics (NYSE:DGX) in a research report sent to investors on Monday,Benzinga reports. The firm currently has a $180.00 target price on the medical research company’s stock, up from their prior target price of $165.00.

Other research analysts have also issued research reports about the stock. Baird R W upgraded shares of Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 23rd. Mizuho lifted their target price on Quest Diagnostics from $160.00 to $174.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Bank of America increased their price target on Quest Diagnostics from $179.00 to $182.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Leerink Partners raised shares of Quest Diagnostics from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $169.00 to $174.00 in a research note on Monday, January 6th. Finally, UBS Group lifted their target price on shares of Quest Diagnostics from $165.00 to $166.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $175.77.

Quest Diagnostics Stock Down 0.4 %

DGX opened at $162.51 on Monday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.02 and a current ratio of 1.10. The company has a market capitalization of $18.14 billion, a PE ratio of 21.13, a P/E/G ratio of 2.54 and a beta of 0.90. The stock’s fifty day moving average is $155.40 and its 200-day moving average is $153.70. Quest Diagnostics has a one year low of $123.18 and a one year high of $167.08.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Thursday, January 30th. The medical research company reported $2.23 EPS for the quarter, topping the consensus estimate of $2.19 by $0.04. Quest Diagnostics had a net margin of 8.80% and a return on equity of 15.07%. On average, equities analysts predict that Quest Diagnostics will post 9.71 EPS for the current fiscal year.

Quest Diagnostics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.20 dividend on an annualized basis and a yield of 1.97%. This is an increase from Quest Diagnostics’s previous quarterly dividend of $0.75. Quest Diagnostics’s payout ratio is 41.61%.

Insider Transactions at Quest Diagnostics

In related news, CAO Michael J. Deppe sold 18,755 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $154.05, for a total value of $2,889,207.75. Following the completion of the sale, the chief accounting officer now owns 34,941 shares of the company’s stock, valued at approximately $5,382,661.05. The trade was a 34.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.79% of the company’s stock.

Institutional Trading of Quest Diagnostics

A number of institutional investors have recently added to or reduced their stakes in the business. Mizuho Securities USA LLC increased its position in Quest Diagnostics by 5,168.5% during the third quarter. Mizuho Securities USA LLC now owns 451,403 shares of the medical research company’s stock worth $70,080,000 after buying an additional 442,835 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Quest Diagnostics by 25.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 747,298 shares of the medical research company’s stock worth $116,018,000 after acquiring an additional 151,365 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Quest Diagnostics by 535.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 128,440 shares of the medical research company’s stock valued at $19,376,000 after acquiring an additional 108,224 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Quest Diagnostics by 23.8% in the 4th quarter. Principal Financial Group Inc. now owns 543,472 shares of the medical research company’s stock valued at $81,994,000 after acquiring an additional 104,495 shares in the last quarter. Finally, Barclays PLC lifted its holdings in Quest Diagnostics by 35.9% in the 3rd quarter. Barclays PLC now owns 298,922 shares of the medical research company’s stock worth $46,407,000 after purchasing an additional 78,980 shares during the last quarter. 88.06% of the stock is currently owned by institutional investors and hedge funds.

About Quest Diagnostics

Quest Diagnostics Incorporated provides diagnostic testing and services in the United States and internationally. The company develops and delivers diagnostic information services, such as routine, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.