Key Points
- Quest Diagnostics SVP Patrick Plewman sold 11,717 shares for about $3.02 million at an average price of $257.34, reducing his direct stake by 44.38% to 14,684 shares. The sale was made under a pre-arranged Rule 10b5-1 plan.
- For the latest reported quarter, Quest posted EPS of $3.00 and revenue of $3.10 billion, beating analyst estimates of $2.87 and $3.05 billion, respectively; revenue grew 10% year over year.
- Analysts’ consensus rating was “Moderate Buy,” with an average price target of $248.70. The company also announced a quarterly dividend of $0.86 per share, equivalent to a 1.3% annualized yield.
Quest Diagnostics Incorporated (NYSE:DGX - Get Free Report) SVP Patrick Plewman sold 11,717 shares of the company's stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $257.34, for a total transaction of $3,015,252.78. Following the sale, the senior vice president directly owned 14,684 shares in the company, valued at $3,778,780.56. This represents a 44.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Quest Diagnostics Stock Up 0.2%
Shares of DGX opened at $259.21 on Friday. The company has a market capitalization of $28.52 billion, a P/E ratio of 25.82, a PEG ratio of 2.32 and a beta of 0.55. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.70 and a quick ratio of 1.58. Quest Diagnostics Incorporated has a one year low of $171.18 and a one year high of $262.00. The business's 50 day simple moving average is $240.83 and its 200-day simple moving average is $215.21.
Quest Diagnostics (NYSE:DGX - Get Free Report) last released its quarterly earnings results on Thursday, October 22nd. The medical research company reported $3.00 EPS for the quarter, topping analysts' consensus estimates of $2.87 by $0.13. Quest Diagnostics had a return on equity of 16.21% and a net margin of 9.53%. The business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same period in the prior year, the company earned $2.60 EPS. Quest Diagnostics's revenue for the quarter was up 10.0% on a year-over-year basis. As a group, sell-side analysts predict that Quest Diagnostics Incorporated will post 11.29 EPS for the current fiscal year.
Quest Diagnostics Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 27th. Shareholders of record on Tuesday, January 12th will be paid a $0.86 dividend. The ex-dividend date of this dividend is Tuesday, January 12th. This represents a $3.44 dividend on an annualized basis and a yield of 1.3%. Quest Diagnostics's payout ratio is currently 34.26%.
Analysts Set New Price Targets
DGX has been the topic of several research analyst reports. Mizuho increased their target price on Quest Diagnostics from $235.00 to $260.00 and gave the stock an "outperform" rating in a report on Friday, July 24th. Truist Financial lifted their price target on Quest Diagnostics from $250.00 to $260.00 and gave the company a "hold" rating in a report on Monday, September 21st. Weiss Ratings upgraded shares of Quest Diagnostics from a "buy (a)" rating to a "buy (a+)" rating in a research report on Wednesday, October 21st. Jefferies Financial Group reissued a "buy" rating and set a $245.00 price objective on shares of Quest Diagnostics in a report on Thursday, July 23rd. Finally, Argus set a $260.00 price objective on shares of Quest Diagnostics in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $248.70.
Read Our Latest Research Report on DGX
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the stock. Next Level Wealth Planning LLC acquired a new position in Quest Diagnostics during the 3rd quarter worth $25,000. Ancora Advisors LLC bought a new position in Quest Diagnostics in the 2nd quarter valued at $29,000. Frazier Financial Advisors LLC increased its stake in shares of Quest Diagnostics by 492.9% in the 1st quarter. Frazier Financial Advisors LLC now owns 166 shares of the medical research company's stock valued at $33,000 after buying an additional 138 shares during the period. Meeder Asset Management Inc. increased its stake in shares of Quest Diagnostics by 496.4% in the 3rd quarter. Meeder Asset Management Inc. now owns 167 shares of the medical research company's stock valued at $39,000 after buying an additional 139 shares during the period. Finally, Ameritas Advisory Services LLC bought a new stake in shares of Quest Diagnostics during the second quarter worth $45,000. Institutional investors own 88.06% of the company's stock.
Quest Diagnostics Company Profile
(
Get Free Report)
Quest Diagnostics (NYSE: DGX) is a provider of diagnostic information services, conducting laboratory tests that help physicians and other health care professionals diagnose, monitor and manage medical conditions. Its services include routine blood and other clinical laboratory testing, anatomic pathology, and specialized molecular and genetic testing. The company serves patients, physicians, hospitals, health plans, employers and government organizations. In addition to testing performed through its laboratories and patient service centers, Quest offers services such as workplace drug testing and diagnostic support for clinical research.
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