Noteworthy Price Action: Quest Diagnostics Inc Sets 52-Week High; Strong Momentum for Holders

Noteworthy Price Action: Quest Diagnostics Inc Sets 52 Week High; Strong Momentum for Holders

The stock of Quest Diagnostics Inc (NYSE:DGX) hit a new 52-week high and has $94.07 target or 7.00% above today’s $87.92 share price. The 7 months bullish chart indicates low risk for the $12.26 billion company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $94.07 price target is reached, the company will be worth $858.20 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 429,159 shares traded hands. Quest Diagnostics Inc (NYSE:DGX) has risen 17.20% since April 25, 2016 and is uptrending. It has outperformed by 11.18% the S&P500.

Analysts await Quest Diagnostics Inc (NYSE:DGX) to report earnings on January, 26. They expect $1.28 earnings per share, up 7.56% or $0.09 from last year’s $1.19 per share. DGX’s profit will be $178.49 million for 17.17 P/E if the $1.28 EPS becomes a reality. After $1.37 actual earnings per share reported by Quest Diagnostics Inc for the previous quarter, Wall Street now forecasts -6.57% negative EPS growth.

Quest Diagnostics Inc (NYSE:DGX) Ratings Coverage

Out of 9 analysts covering Quest Diagnostics (NYSE:DGX), 2 rate it a “Buy”, 1 “Sell”, while 6 “Hold”. This means 22% are positive. Quest Diagnostics has been the topic of 16 analyst reports since August 4, 2015 according to StockzIntelligence Inc. On Friday, January 29 the stock rating was maintained by RBC Capital Markets with “Sector Perform”. The stock has “Neutral” rating given by Mizuho on Thursday, October 22. The firm earned “Neutral” rating on Friday, October 21 by Mizuho. The rating was downgraded by Jyske Bank on Friday, June 24 to “Sell”. On Friday, November 13 the stock rating was maintained by Canaccord Genuity with “Buy”. The stock of Quest Diagnostics Inc (NYSE:DGX) earned “Sector Perform” rating by RBC Capital Markets on Friday, October 23. The company was upgraded on Monday, November 14 by UBS. Zacks upgraded Quest Diagnostics Inc (NYSE:DGX) on Tuesday, August 18 to “Hold” rating. Citigroup initiated Quest Diagnostics Inc (NYSE:DGX) rating on Friday, September 9. Citigroup has “Neutral” rating and $86 price target. The firm has “Neutral” rating given on Wednesday, August 31 by Mizuho.

According to Zacks Investment Research, “Quest Diagnostics Inc., is the leading provider of diagnostic testing, information and services that patients and doctors need to make better healthcare decisions. The company offers the broadest access to diagnostic testing services through its national network of laboratories and patient service centers, and provides interpretive consultation through its extensive medical and scientific staff. Quest Diagnostics is a pioneer in developing innovative new diagnostic tests and advanced healthcare information technology solutions that help improve patient care.”

Insitutional Activity: The institutional sentiment decreased to 0.92 in Q2 2016. Its down 0.15, from 1.07 in 2016Q1. The ratio fall, as 35 funds sold all Quest Diagnostics Inc shares owned while 173 reduced positions. 55 funds bought stakes while 168 increased positions. They now own 124.00 million shares or 7.05% less from 133.41 million shares in 2016Q1.
Hussman Strategic Advsrs accumulated 2,000 shares or 0.02% of the stock. Blackrock Mngmt Lc, a New Jersey-based fund reported 1.54 million shares. Profund Advisors Ltd Company accumulated 0.02% or 5,888 shares. The California-based Blackrock Institutional Tru Comm Na has invested 0.06% in Quest Diagnostics Inc (NYSE:DGX). Blackrock Fund Advsrs holds 0.05% of its portfolio in Quest Diagnostics Inc (NYSE:DGX) for 3.06M shares. Levin Capital Strategies L P last reported 0% of its portfolio in the stock. Vanguard Gp Inc holds 0.07% or 12.91 million shares in its portfolio. The Michigan-based State Treasurer State Of Michigan has invested 0.2% in Quest Diagnostics Inc (NYSE:DGX). Cobblestone Advisors Ltd Liability Ny has invested 0.04% of its portfolio in Quest Diagnostics Inc (NYSE:DGX). Robeco Institutional Asset Mngmt Bv holds 0.04% of its portfolio in Quest Diagnostics Inc (NYSE:DGX) for 61,911 shares. Utah Retirement owns 25,934 shares or 0.06% of their US portfolio. Ent Services Corporation accumulated 237 shares or 0.01% of the stock. Anchor Capital Advisors Ltd Llc holds 0.01% of its portfolio in Quest Diagnostics Inc (NYSE:DGX) for 6,125 shares. Moreover, Envestnet Asset Mngmt has 0.03% invested in Quest Diagnostics Inc (NYSE:DGX) for 101,934 shares. Whittier Trust Com Of Nevada holds 0.04% of its portfolio in Quest Diagnostics Inc (NYSE:DGX) for 4,000 shares.

Insider Transactions: Since July 25, 2016, the stock had 0 buys, and 5 sales for $4.94 million net activity. LEIDEN JEFFREY M had sold 6,345 shares worth $543,262 on Wednesday, August 3. PFEIFFER GARY M also sold $3.63M worth of Quest Diagnostics Inc (NYSE:DGX) shares. Another trade for 4,000 shares valued at $340,808 was made by BRITELL JENNE K on Wednesday, August 10. ZIEGLER JOHN B had sold 1,000 shares worth $84,359.

More recent Quest Diagnostics Inc (NYSE:DGX) news were published by: Wsj.com which released: “UnitedHealth’s Optum Unit to Oversee Quest Diagnostics’ Billing Processes” on September 13, 2016. Also Forbes.com published the news titled: “Ex-Dividend Reminder: Sanderson Farms, Quest Diagnostics and Agilent Technologies” on September 28, 2016. Nasdaq.com‘s news article titled: “Quest Diagnostics’ QuestDirect Now in Colorado & Missouri” with publication date: November 23, 2016 was also an interesting one.

DGX Company Profile

Quest Diagnostics Incorporated, incorporated on September 20, 1996, is a well-known provider of diagnostic information services. The Firm operates through two businesses: Diagnostic Information Services and Diagnostic Solutions.

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