Morgan Stanley Boosts Quest Diagnostics (NYSE:DGX) Price Target to $121.00

Quest Diagnostics (NYSE:DGX) had its target price upped by Morgan Stanley from $111.00 to $121.00 in a report issued on Friday morning, BenzingaRatingsTable reports. Morgan Stanley currently has an overweight rating on the medical research company’s stock.

DGX has been the topic of several other reports. Credit Suisse Group lifted their target price on shares of Quest Diagnostics from $99.00 to $105.00 and gave the stock a neutral rating in a research note on Wednesday, July 24th. Evercore ISI reaffirmed a buy rating and issued a $108.00 target price on shares of Quest Diagnostics in a research note on Thursday, August 8th. Canaccord Genuity lifted their target price on shares of Quest Diagnostics from $108.00 to $112.00 and gave the stock a buy rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. lifted their target price on shares of Quest Diagnostics from $100.00 to $111.00 and gave the stock a neutral rating in a research note on Wednesday, July 24th. Finally, Goldman Sachs Group downgraded shares of Quest Diagnostics from a neutral rating to a sell rating and reduced their price objective for the company from $90.00 to $85.00 in a research report on Monday, July 15th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. Quest Diagnostics presently has a consensus rating of Hold and a consensus price target of $105.06.

Shares of NYSE DGX opened at $101.60 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.82 and a debt-to-equity ratio of 0.58. Quest Diagnostics has a 52 week low of $78.95 and a 52 week high of $111.54. The firm’s fifty day moving average is $101.32 and its 200 day moving average is $95.18. The company has a market cap of $13.82 billion, a price-to-earnings ratio of 16.10, a PEG ratio of 2.08 and a beta of 0.88.

Quest Diagnostics (NYSE:DGX) last issued its earnings results on Tuesday, July 23rd. The medical research company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.69 by $0.04. Quest Diagnostics had a net margin of 9.64% and a return on equity of 15.05%. The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the previous year, the firm earned $1.75 earnings per share. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. Equities research analysts anticipate that Quest Diagnostics will post 6.5 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Friday, October 4th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Thursday, October 3rd. Quest Diagnostics’s payout ratio is currently 33.60%.

In other Quest Diagnostics news, Chairman Stephen H. Rusckowski sold 244,565 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $100.00, for a total transaction of $24,456,500.00. Following the transaction, the chairman now directly owns 457,614 shares of the company’s stock, valued at approximately $45,761,400. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Mark Guinan sold 73,005 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $100.00, for a total transaction of $7,300,500.00. Following the transaction, the insider now directly owns 139,022 shares in the company, valued at $13,902,200. The disclosure for this sale can be found here. 1.86% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the company. Pearl River Capital LLC bought a new stake in shares of Quest Diagnostics during the 2nd quarter valued at $28,000. Wealthcare Advisory Partners LLC bought a new stake in shares of Quest Diagnostics during the 2nd quarter valued at $29,000. Berman Capital Advisors LLC boosted its holdings in shares of Quest Diagnostics by 47.7% during the 2nd quarter. Berman Capital Advisors LLC now owns 319 shares of the medical research company’s stock valued at $32,000 after buying an additional 103 shares in the last quarter. Penserra Capital Management LLC bought a new stake in shares of Quest Diagnostics during the 1st quarter valued at $42,000. Finally, CWM LLC boosted its holdings in shares of Quest Diagnostics by 61.1% during the 2nd quarter. CWM LLC now owns 464 shares of the medical research company’s stock valued at $47,000 after buying an additional 176 shares in the last quarter. Hedge funds and other institutional investors own 90.89% of the company’s stock.

About Quest Diagnostics

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

Featured Article: What is the Difference Between Common Shares and Convertible Shares?

Analyst Recommendations for Quest Diagnostics (NYSE:DGX)

Receive News & Ratings for Quest Diagnostics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quest Diagnostics and related companies with MarketBeat.com's FREE daily email newsletter.