JPMorgan Chase & Co. Boosts Quest Diagnostics (NYSE:DGX) Price Target to $155.00

Quest Diagnostics (NYSE:DGXFree Report) had its target price upped by JPMorgan Chase & Co. from $152.00 to $155.00 in a research note released on Thursday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the medical research company’s stock.

A number of other analysts have also recently weighed in on DGX. TheStreet cut Quest Diagnostics from a b- rating to a c rating in a research report on Monday, February 5th. SVB Leerink started coverage on Quest Diagnostics in a research report on Monday, February 26th. They set a market perform rating and a $135.00 price objective for the company. Leerink Partnrs reaffirmed a market perform rating on shares of Quest Diagnostics in a research report on Monday, February 26th. Truist Financial increased their price objective on Quest Diagnostics from $145.00 to $150.00 and gave the stock a hold rating in a research report on Wednesday, April 24th. Finally, StockNews.com raised Quest Diagnostics from a hold rating to a buy rating in a research report on Friday, May 24th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $146.67.

Read Our Latest Stock Analysis on DGX

Quest Diagnostics Trading Up 1.9 %

NYSE:DGX opened at $141.97 on Thursday. The stock’s 50 day moving average price is $135.47 and its 200 day moving average price is $133.28. The company has a market capitalization of $15.77 billion, a PE ratio of 19.11, a P/E/G ratio of 3.03 and a beta of 0.88. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.59. Quest Diagnostics has a 52-week low of $119.59 and a 52-week high of $145.62.

Quest Diagnostics (NYSE:DGXGet Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The medical research company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.18. The firm had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.29 billion. Quest Diagnostics had a return on equity of 15.52% and a net margin of 9.11%. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.04 EPS. On average, research analysts anticipate that Quest Diagnostics will post 8.78 EPS for the current year.

Quest Diagnostics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 22nd. Investors of record on Monday, July 8th will be issued a dividend of $0.75 per share. The ex-dividend date is Monday, July 8th. This represents a $3.00 annualized dividend and a yield of 2.11%. Quest Diagnostics’s dividend payout ratio is presently 38.22%.

Insider Buying and Selling

In related news, SVP Karthik Kuppusamy sold 1,760 shares of Quest Diagnostics stock in a transaction on Monday, April 29th. The stock was sold at an average price of $140.00, for a total transaction of $246,400.00. Following the completion of the transaction, the senior vice president now directly owns 13,435 shares of the company’s stock, valued at $1,880,900. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.79% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Quest Diagnostics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Quest Diagnostics by 2.5% during the first quarter. Vanguard Group Inc. now owns 13,921,955 shares of the medical research company’s stock worth $1,853,151,000 after purchasing an additional 345,754 shares during the last quarter. American Century Companies Inc. increased its position in Quest Diagnostics by 12.3% during the third quarter. American Century Companies Inc. now owns 3,554,517 shares of the medical research company’s stock worth $433,153,000 after buying an additional 388,162 shares in the last quarter. Victory Capital Management Inc. increased its position in Quest Diagnostics by 1.8% during the fourth quarter. Victory Capital Management Inc. now owns 3,476,628 shares of the medical research company’s stock worth $479,357,000 after buying an additional 62,114 shares in the last quarter. Wellington Management Group LLP increased its position in Quest Diagnostics by 0.7% during the fourth quarter. Wellington Management Group LLP now owns 2,632,326 shares of the medical research company’s stock worth $362,945,000 after buying an additional 18,533 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Quest Diagnostics by 36.8% during the third quarter. JPMorgan Chase & Co. now owns 2,001,347 shares of the medical research company’s stock worth $243,884,000 after buying an additional 538,377 shares in the last quarter. 88.06% of the stock is owned by institutional investors and hedge funds.

Quest Diagnostics Company Profile

(Get Free Report)

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.

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