Quest Diagnostics (NYSE:DGX) Reaches New 12-Month High – Time to Buy?

Shares of Quest Diagnostics Incorporated (NYSE:DGX) hit a new 52-week high during trading on Monday . The company traded as high as $165.32 and last traded at $165.09, with a volume of 54117 shares trading hands. The stock had previously closed at $163.59.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Baird R W upgraded Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 23rd. Piper Sandler raised their target price on Quest Diagnostics from $150.00 to $165.00 and gave the company a “neutral” rating in a report on Monday, October 28th. StockNews.com lowered Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Monday, November 18th. Evercore ISI began coverage on shares of Quest Diagnostics in a research report on Wednesday, August 28th. They issued an “in-line” rating and a $165.00 price objective for the company. Finally, Citigroup boosted their target price on shares of Quest Diagnostics from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Nine research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $164.58.

Quest Diagnostics Trading Up 0.7 %

The company has a current ratio of 1.25, a quick ratio of 1.17 and a debt-to-equity ratio of 0.83. The company has a market cap of $18.23 billion, a price-to-earnings ratio of 21.75, a price-to-earnings-growth ratio of 2.81 and a beta of 0.89. The firm has a 50-day moving average price of $155.10 and a 200 day moving average price of $148.79.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings data on Tuesday, October 22nd. The medical research company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.04. Quest Diagnostics had a net margin of 8.82% and a return on equity of 15.25%. The firm had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the previous year, the company posted $2.22 earnings per share. The firm’s revenue was up 8.5% on a year-over-year basis. As a group, sell-side analysts forecast that Quest Diagnostics Incorporated will post 8.9 EPS for the current year.

Quest Diagnostics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Tuesday, January 14th will be paid a $0.75 dividend. The ex-dividend date is Tuesday, January 14th. This represents a $3.00 dividend on an annualized basis and a yield of 1.84%. Quest Diagnostics’s payout ratio is currently 40.32%.

Insider Transactions at Quest Diagnostics

In related news, SVP Karthik Kuppusamy sold 1,775 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $156.92, for a total value of $278,533.00. Following the sale, the senior vice president now owns 9,734 shares of the company’s stock, valued at $1,527,459.28. This trade represents a 15.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Michael J. Deppe sold 18,755 shares of Quest Diagnostics stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $154.05, for a total transaction of $2,889,207.75. Following the completion of the sale, the chief accounting officer now owns 34,941 shares in the company, valued at approximately $5,382,661.05. This represents a 34.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.79% of the company’s stock.

Institutional Trading of Quest Diagnostics

Several hedge funds have recently added to or reduced their stakes in DGX. Avestar Capital LLC increased its holdings in shares of Quest Diagnostics by 1.1% during the third quarter. Avestar Capital LLC now owns 6,288 shares of the medical research company’s stock valued at $976,000 after purchasing an additional 71 shares during the period. Legacy Financial Advisors Inc. lifted its holdings in shares of Quest Diagnostics by 1.6% in the second quarter. Legacy Financial Advisors Inc. now owns 4,697 shares of the medical research company’s stock valued at $643,000 after buying an additional 72 shares during the period. Empirical Finance LLC boosted its stake in Quest Diagnostics by 2.0% during the third quarter. Empirical Finance LLC now owns 3,948 shares of the medical research company’s stock valued at $613,000 after buying an additional 76 shares in the last quarter. Meeder Advisory Services Inc. grew its holdings in Quest Diagnostics by 4.9% during the second quarter. Meeder Advisory Services Inc. now owns 1,795 shares of the medical research company’s stock worth $246,000 after acquiring an additional 84 shares during the period. Finally, Raymond James Trust N.A. raised its position in Quest Diagnostics by 3.5% in the third quarter. Raymond James Trust N.A. now owns 2,572 shares of the medical research company’s stock worth $399,000 after acquiring an additional 88 shares in the last quarter. Institutional investors own 88.06% of the company’s stock.

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.