Quest Diagnostics Inc (NYSE:DGX) declared a quarterly dividend on Tuesday, May 14th, RTT News reports. Investors of record on Monday, July 8th will be paid a dividend of 0.53 per share by the medical research company on Monday, July 22nd. This represents a $2.12 annualized dividend and a dividend yield of 2.19%.
Quest Diagnostics has raised its dividend by an average of 9.9% per year over the last three years and has raised its dividend annually for the last 7 consecutive years. Quest Diagnostics has a dividend payout ratio of 32.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Quest Diagnostics to earn $6.81 per share next year, which means the company should continue to be able to cover its $2.12 annual dividend with an expected future payout ratio of 31.1%.
Shares of Quest Diagnostics stock opened at $96.75 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.78 and a quick ratio of 0.74. The company has a market cap of $13.05 billion, a P/E ratio of 15.33, a P/E/G ratio of 2.24 and a beta of 0.92. Quest Diagnostics has a 1 year low of $78.95 and a 1 year high of $116.49.
In other Quest Diagnostics news, SVP Everett Cunningham sold 1,496 shares of the company’s stock in a transaction dated Wednesday, February 27th. The shares were sold at an average price of $86.64, for a total value of $129,613.44. Following the completion of the transaction, the senior vice president now directly owns 39,755 shares of the company’s stock, valued at approximately $3,444,373.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Michael E. Prevoznik sold 336 shares of the company’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $88.23, for a total transaction of $29,645.28. Following the completion of the transaction, the senior vice president now directly owns 42,108 shares of the company’s stock, valued at $3,715,188.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 135,680 shares of company stock valued at $12,454,759. 1.86% of the stock is currently owned by corporate insiders.
Several research analysts have weighed in on the company. Zacks Investment Research downgraded Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Friday, May 10th. UBS Group boosted their price target on Quest Diagnostics from $91.00 to $99.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. ValuEngine upgraded Quest Diagnostics from a “sell” rating to a “hold” rating in a report on Wednesday, April 24th. Morgan Stanley boosted their price target on Quest Diagnostics from $98.00 to $104.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Finally, Canaccord Genuity boosted their price target on Quest Diagnostics from $97.00 to $103.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $102.41.
Quest Diagnostics Company Profile
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.
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