Noteworthy Price Action: Is Buying All-time Stock Like Quest Diagnostics Inc a Winning Strategy?

Noteworthy Price Action: Is Buying All time Stock Like Quest Diagnostics Inc a Winning Strategy?

The stock of Quest Diagnostics Inc (NYSE:DGX) reached all time high today, Nov, 29 and still has $91.49 target or 3.00% above today’s $88.83 share price. This indicates more upside for the $12.30 billion company. This technical setup was reported by Barchart.com. If the $91.49 PT is reached, the company will be worth $369.00 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 542,405 shares traded hands. Quest Diagnostics Inc (NYSE:DGX) has risen 16.55% since April 26, 2016 and is uptrending. It has outperformed by 11.29% the S&P500.

Analysts await Quest Diagnostics Inc (NYSE:DGX) to report earnings on January, 26. They expect $1.28 EPS, up 7.56% or $0.09 from last year’s $1.19 per share. DGX’s profit will be $177.24 million for 17.35 P/E if the $1.28 EPS becomes a reality. After $1.37 actual EPS 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. As per Friday, January 29, the company rating was maintained by RBC Capital Markets. The company was downgraded on Friday, June 24 by Jyske Bank. On Friday, October 23 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 rating was upgraded by UBS to “Buy” on Monday, November 14. Mizuho maintained it with “Neutral” rating and $88 target price in Friday, October 21 report. The rating was downgraded by Mizuho on Wednesday, August 31 to “Neutral”. Wells Fargo upgraded the shares of DGX in a report on Friday, October 16 to “Market Perform” rating. The rating was upgraded by Zacks on Tuesday, August 18 to “Hold”. The rating was initiated by Citigroup on Friday, September 9 with “Neutral”.

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 2016 Q2. 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.
Employees Retirement Sys Of Texas has invested 0.01% of its portfolio in Quest Diagnostics Inc (NYSE:DGX). Pub Sector Pension Inv Board accumulated 0.02% or 26,783 shares. Quantitative Inv Mngmt Limited Liability Corp last reported 0.06% of its portfolio in the stock. Btim reported 14,850 shares or 0.02% of all its holdings. The California-based Whittier Tru has invested 0% in Quest Diagnostics Inc (NYSE:DGX). Private Advisor Gp Ltd Com last reported 0.02% of its portfolio in the stock. Smithfield Tru Co has invested 0.06% of its portfolio in Quest Diagnostics Inc (NYSE:DGX). Marshall Wace Limited Liability Partnership accumulated 595,601 shares or 0.41% of the stock. Great West Life Assurance Can owns 698,642 shares or 0.18% of their US portfolio. Horizon Kinetics holds 0.01% or 7,300 shares in its portfolio. The France-based Capital Fund Mgmt has invested 0% in Quest Diagnostics Inc (NYSE:DGX). Brown Advisory has invested 0% of its portfolio in Quest Diagnostics Inc (NYSE:DGX). The New York-based Oppenheimer & Inc has invested 0.14% in Quest Diagnostics Inc (NYSE:DGX). Co Of Vermont, a Vermont-based fund reported 2,845 shares. Cobblestone Cap Advisors Ltd Liability Corporation has invested 0.04% of its portfolio in Quest Diagnostics Inc (NYSE:DGX).

Insider Transactions: Since July 25, 2016, the stock had 0 insider buys, and 5 insider sales for $4.94 million net activity. On Tuesday, November 15 the insider PFEIFFER GARY M sold $3.63 million. 4,000 shares were sold by BRITELL JENNE K, worth $339,052. LEIDEN JEFFREY M sold $543,262 worth of stock. ZIEGLER JOHN B sold $84,359 worth of stock or 1,000 shares.

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 Nasdaq.com published the news titled: “Quest Diagnostics’ QuestDirect Now in Colorado & Missouri” on November 23, 2016. Nasdaq.com‘s news article titled: “Quest Diagnostics at 52-Week High on Solid Q3 & Prospects” with publication date: November 22, 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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