Analysts at Evercore ISI assumed coverage on shares of Quest Diagnostics (NYSE:DGX) in a note issued to investors on Thursday, January 4th, Marketbeat Ratings reports. The firm set an “in-line” rating and a $103.00 price target on the medical research company’s stock. Evercore ISI’s target price would suggest a potential upside of 1.35% from the stock’s previous close.
A number of other equities analysts have also issued reports on the company. Canaccord Genuity reaffirmed a “buy” rating and issued a $118.00 target price on shares of Quest Diagnostics in a research report on Wednesday, September 13th. Craig Hallum reaffirmed a “hold” rating and issued a $100.00 target price (down from $110.00) on shares of Quest Diagnostics in a research report on Tuesday, October 17th. Mizuho set a $103.00 target price on Quest Diagnostics and gave the company a “buy” rating in a research report on Thursday, October 19th. SunTrust Banks set a $105.00 target price on Quest Diagnostics and gave the company a “hold” rating in a research report on Sunday, October 15th. Finally, Zacks Investment Research lowered Quest Diagnostics from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $106.20.
Quest Diagnostics (DGX) opened at $101.63 on Thursday. The firm has a market capitalization of $13,768.96, a P/E ratio of 21.31, a price-to-earnings-growth ratio of 1.99 and a beta of 0.60. Quest Diagnostics has a fifty-two week low of $90.10 and a fifty-two week high of $112.96. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.47 and a quick ratio of 1.37.
Quest Diagnostics (NYSE:DGX) last released its quarterly earnings results on Thursday, October 19th. The medical research company reported $1.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.04. The firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.92 billion. Quest Diagnostics had a return on equity of 15.53% and a net margin of 8.82%. Quest Diagnostics’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.37 EPS. equities analysts forecast that Quest Diagnostics will post 5.65 earnings per share for the current year.
In related news, EVP J. E. Davis sold 63,880 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $98.68, for a total transaction of $6,303,678.40. Following the sale, the executive vice president now directly owns 101,423 shares of the company’s stock, valued at approximately $10,008,421.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.75% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. WFG Advisors LP raised its position in shares of Quest Diagnostics by 45.3% during the 2nd quarter. WFG Advisors LP now owns 966 shares of the medical research company’s stock valued at $107,000 after acquiring an additional 301 shares in the last quarter. Sun Life Financial INC increased its position in Quest Diagnostics by 14,142.9% in the second quarter. Sun Life Financial INC now owns 997 shares of the medical research company’s stock worth $111,000 after buying an additional 990 shares during the period. Acrospire Investment Management LLC increased its position in Quest Diagnostics by 300.0% in the second quarter. Acrospire Investment Management LLC now owns 1,600 shares of the medical research company’s stock worth $178,000 after buying an additional 1,200 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in Quest Diagnostics in the second quarter worth $180,000. Finally, Parametrica Management Ltd acquired a new stake in Quest Diagnostics in the third quarter worth $206,000. 88.84% of the stock is currently owned by institutional investors and hedge funds.
About Quest Diagnostics
Quest Diagnostics Incorporated is a provider of diagnostic information services. The Company operates through two businesses: Diagnostic Information Services and Diagnostic Solutions. The Diagnostic Information Services business develops and delivers diagnostic testing information and services, providing insights that empower and enable a range of customers, including patients, clinicians, hospitals, integrated delivery networks (IDNs), health plans, employers and accountable care organizations (ACOs).
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