Quest Diagnostics (NYSE:DGX) Stock, Quote.Headers.trade-ideas

Quest Diagnostics

Quest Diagnostics is a leading independent provider of diagnostic testing, information, and services in the us. The company generates over 95% of its revenue through clinical testing, anatomic pathology, esoteric testing, and substance abuse testing with specimens collected at its national network of roughly 2,300 patient service centers, as well as multiple doctors offices and hospitals. The firm also runs a much smaller diagnostic solutions segment that provides clinical trials testing, risk-assessment services, and information technology solutions.

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streetTRACKS Dow Jones U.S. Large Cap Value Index Fund

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U.S. healthcare spending grew 7.5% to $4.9 trillion in 2023, with hospital care and prescription drugs driving costs. Private insurance accounted for 30% of total spending.

Your Healthcare Costs are Soaring! US Spending Reached $5 Trillion In 2023 with Major Increase in Obesity and Diabetes Drugs, Hospital Services

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MYNZ

Quest Diagnostics (NYSE: DGX) And Mainz Biomed (NASDAQ: MYNZ) Team Up To Commercialize ColoAlert Early Cancer Detection Screening In The U.S.

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Tesla To Rally More Than 11%? Here Are 10 Top Analyst Forecasts For Tuesday

Quest Diagnostics Incorporated Common Stock

Quest Diagnostics Inc

According to a report, U.S. healthcare spending grew by 7.5% to $4.9 trillion in 2023. The increase was fueled by higher enrollment in private health plans and expanded use of medical services, driven by legislative changes and post-pandemic rebounds in care utilization.
Healthcare spending accounted for 17.6% of the U.S. economy, outpacing GDP growth of 2.9%. Spending on retail prescription drugs <a target="_blank" href="https://www.healthaffairs.org/doi/full/10.1377/hlthaff.2024.01375" rel="noreferrer noopener">saw</a> the most significant rise, jumping 11.4% to $449.7 billion.
The report attributed this to increased use of medications for obesity and diabetes.
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The rapid growth in spending for drugs used to treat diabetes and obesity contributed to faster overall growth in retail prescription drug expenditures and private health insurance and Medicare spending growth.
Hospital care spending rose 10.4% to $1.5 trillion in 2023, marking the fastest growth since 1990. Hospital discharges increased by 1.6%, with Medicare beneficiaries driving higher outpatient service utilization.
Spending on physician and clinical services also climbed by 7.4% to $978 billion, with private insurance and Medicare patients contributing to this rise.
Enrollment in private health insurance grew by 1.6%, adding 3.3 million Americans.
Private insurance spending surged by 11.5%, reaching $1.5 trillion and accounting for 30% of national healthcare expenditures.
Medicare spending grew 8.1% to $1 trillion, representing 21% of total healthcare spending. Medicaid spending, however, grew more slowly at 7.9%, reflecting the end of the COVID-19 public health emergency.
The report also revealed that 92.5% of Americans had health insurance in 2023, up from 92.0% in 2022, underscoring the broader coverage expansion in recent years.
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Photo by MargJohnsonVA via Shutterstock

Mainz Biomed N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYNZ#NASDAQ">MYNZ</a>) ("Mainz Biomed" or the "Company"), a molecular genetics diagnostic company specializing in the early detection of cancer, announced today an agreement with Quest Diagnostics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DGX#NYSE">DGX</a>), a leading provider of diagnostic information services, to support commercialization of Mainz Biomed's NextGen screening test for colorectal cancer.
Mainz Biomed's stool-based ColoAlert test is designed to detect colorectal cancer tumor DNA to aid in identifying colorectal cancer in early stages. Through polymerase chain reaction (PCR) technology, a small sample of DNA can be examined through a patient's stool sample to identify genetic mutations that may lead to a cancer diagnosis. Mainz Biomed's ColoAlert test has shown promising sensitivity and specificity in identifying colorectal cancer, including advanced adenomas, in preliminary data.
Quest will provide clinical trial laboratory services for Mainz Biomeds's ReconAAsense study, a prospective clinical study that will include approximately 15,000 subjects from 150 sites across the United States to develop data supporting FDA validation of the NextGen test. In addition, Mainz Biomed will provide Quest with the option to exercise semi-exclusive rights to provide testing services based on the test kit for an eighteen-month period, assuming its approval by the FDA.
Colorectal cancer (CRC) is the third most common cancer globally, with more than 1.9 million new cases reported in 2020, according to World Cancer Research Fund. The US Preventive Services Task Force recommends that screening with stool DNA-FIT (sDNA-FIT) tests should be conducted once every one to three years starting at age 45. Roughly one-third of US residents aged 50-75 have never been screened for colon cancer. This gap in screening represents a $4.0B+ total market opportunity in the US. Offering alternative screening modalities, such as sDNA-FIT, may help bridge this gap.

Mainz Biomed Forms Agreement With Quest Diagnostics  To Support Commercialization Of Mainz Biomed's NextGen Screening Test For Colorectal Cancer

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
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<li>Mizuho raised the price target for Rubrik, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBRK#NYSE">RBRK</a>) from $75 to $82. Mizuho analyst Gregg Moskowitz maintained an Outperform rating. Rubrik shares closed at $75.51 on Monday. <a href="https://www.benzinga.com/quote/RBRK/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Deutsche Bank boosted the price target for Planet Labs PBC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PL#NYSE">PL</a>) from $4 to $4.5. Deutsche Bank analyst Edison Yu maintained a Buy rating. Planet Labs shares closed at $4.33 on Monday. <a href="https://www.benzinga.com/quote/PL/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>B of A Securities cut Knight-Swift Transportation Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KNX#NYSE">KNX</a>) price target from $64 to $61. B of A Securities analyst Ken Hoexter maintained a Buy rating. Knight-Swift Transportation shares settled at $54.92 on Monday. <a href="https://www.benzinga.com/quote/KNX/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>BMO Capital raised Ecolab Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ECL#NYSE">ECL</a>) price target from $279 to $290. BMO Capital analyst John McNulty upgraded the stock from Market Perform to Outperform. Ecolab shares closed at $248.40 on Monday. <a href="https://www.benzinga.com/quote/ECL/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Mizuho boosted Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) price target from $230 to $515. Mizuho analyst Vijay Rakesh upgraded the stock from Neutral to Outperform. Tesla shares closed at $463.02 on Monday.  <a href="https://www.benzinga.com/quote/TSLA/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Goldman Sachs cut Enphase Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) price target from $145 to $121. Goldman Sachs analyst Brian Lee maintained a Buy rating. Enphase Energy shares closed at $71.62 on Monday. See how other analysts view this stock.</li>
<li>Needham raised the price target for Alcon Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALC#NYSE">ALC</a>) from $103 to $108. Needham analyst David Saxon maintained a Buy rating. Alcon shares settled at $83.87 on Monday. <a href="https://www.benzinga.com/quote/ALC/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Morgan Stanley raised Quest Diagnostics Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DGX#NYSE">DGX</a>) price target from $145 to $172. Morgan Stanley analyst Erin Wright upgraded the stock from Equal-Weight to Overweight. Quest Diagnostics shares closed at $152.65 on Monday. <a href="https://www.benzinga.com/quote/DGX/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Jefferies slashed Frontline plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FRO#NYSE">FRO</a>) price target from $26 to $20. Jefferies analyst Omar Nokta maintained a Buy rating. Frontline shares closed at $13.81 on Monday. <a href="https://www.benzinga.com/quote/FRO/analyst-ratings">See how other analysts view this stock</a>.</li>
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Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
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<li>BMO Capital analyst John McNulty upgraded the rating for Ecolab Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ECL#NYSE">ECL</a>) from Market Perform to Outperform and raised the price target from $279 to $290. Ecolab shares closed at $248.40 on Monday. See how other analysts view this stock.</li>
<li>JP Morgan analyst Robbie Marcus upgraded Zimmer Biomet Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZBH#NYSE">ZBH</a>) from Neutral to Overweight and increased the price target from $125 to $128. Zimmer Biomet shares closed at $106.85 on Monday. <a href="https://www.benzinga.com/quote/ZBH/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Stifel analyst Adam Borg upgraded the rating for Cloudflare, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NET#NYSE">NET</a>) from Hold to Buy and raised the price target from $95 to $136. Cloudflare shares closed at $114.65 on Monday. <a href="https://www.benzinga.com/quote/NET/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Morgan Stanley analyst Erin Wright upgraded Quest Diagnostics Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DGX#NYSE">DGX</a>) from Equal-Weight to Overweight and raised the price target from $145 to $172. Quest Diagnostics shares closed at $152.65 on Monday. See how other analysts view this stock.</li>
<li>Mizuho analyst Vijay Rakesh upgraded the rating for Tesla, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) from Neutral to Outperform and boosted the price target from $230 to $515. Tesla shares closed at $463.02 on Monday. <a href="https://www.benzinga.com/quote/TSLA/analyst-ratings">See how other analysts view this stock.</a></li>
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Upgrades

This Tesla Analyst Turns Bullish; Here Are Top 5 Upgrades For Tuesday

Morgan Stanley analyst Erin Wright upgrades Quest Diagnostics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DGX#NYSE">DGX</a>) from Equal-Weight to Overweight and raises the price target from $145 to $172.

Morgan Stanley Upgrades Quest Diagnostics to Overweight, Raises Price Target to $172

B of A Securities analyst Derik De Bruin maintains Quest Diagnostics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DGX#NYSE">DGX</a>) with a Buy and raises the price target from $179 to $182.

B of A Securities Maintains Buy on Quest Diagnostics, Raises Price Target to $182

8 analysts have shared their evaluations of Quest Diagnostics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DGX#NYSE">DGX</a>) during the recent three months, expressing a mix of bullish and bearish perspectives.
The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">2</td>
<td align="right">2</td>
<td align="right">4</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">1</td>
<td align="right">2</td>
<td align="right">3</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
Insights from analysts' 12-month price targets are revealed, presenting an average target of $173.75, a high estimate of $185.00, and a low estimate of $165.00. Marking an increase of 9.67%, the current average surpasses the previous average price target of $158.43. 
<img src="https://www.benzinga.com/files/images/story/2024/1733832009_0.png" alt="price target chart" />
<h2>Analyzing Analyst Ratings: A Detailed Breakdown</h2>
In examining recent analyst actions, we gain insights into how financial experts perceive Quest Diagnostics. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Tycho Peterson</td>
<td>Jefferies</td>
<td>Announces</td>
<td>Buy</td>
<td>$185.00</td>
<td>-</td>
</tr>
<tr>
<td>David Westenberg</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Neutral</td>
<td>$165.00</td>
<td>$150.00</td>
</tr>
<tr>
<td>Ann Hynes</td>
<td>Mizuho</td>
<td>Raises</td>
<td>Outperform</td>
<td>$174.00</td>
<td>$160.00</td>
</tr>
<tr>
<td>Kevin Caliendo</td>
<td>UBS</td>
<td>Raises</td>
<td>Neutral</td>
<td>$166.00</td>
<td>$165.00</td>
</tr>
<tr>
<td>Patrick Donnelly</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Buy</td>
<td>$185.00</td>
<td>$165.00</td>
</tr>
<tr>
<td>Stephanie Davis</td>
<td>Barclays</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$168.00</td>
<td>$154.00</td>
</tr>
<tr>
<td>Eric Coldwell</td>
<td>Baird</td>
<td>Raises</td>
<td>Outperform</td>
<td>$182.00</td>
<td>$157.00</td>
</tr>
<tr>
<td>David Macdonald</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Hold</td>
<td>$165.00</td>
<td>$158.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Quest Diagnostics. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Unveiling insights, analysts deliver qualitative insights into stock performance, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Quest Diagnostics compared to the broader market.</li>
<li>Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of Quest Diagnostics's stock. This examination reveals shifts in analysts' expectations over time.</li>
</ul>
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of Quest Diagnostics's market position. Stay informed and make well-informed decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/DGX/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Quest Diagnostics analyst ratings.</a>
<h2>Discovering Quest Diagnostics: A Closer Look</h2>
Quest Diagnostics is a leading independent provider of diagnostic testing, information, and services in the us. The company generates over 95% of its revenue through clinical testing, anatomic pathology, esoteric testing, and substance abuse testing with specimens collected at its national network of roughly 2,300 patient service centers, as well as multiple doctors offices and hospitals. The firm also runs a much smaller diagnostic solutions segment that provides clinical trials testing, risk-assessment services, and information technology solutions.
<h3>A Deep Dive into Quest Diagnostics's Financials</h3>
Market Capitalization Highlights: Above the industry average, the company's market capitalization signifies a significant scale, indicating strong confidence and market prominence.
Revenue Growth: Quest Diagnostics's revenue growth over a period of 3 months has been noteworthy. As of 30 September, 2024, the company achieved a revenue growth rate of approximately 8.41%. This indicates a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Health Care sector.
Net Margin: Quest Diagnostics's net margin excels beyond industry benchmarks, reaching 9.04%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): Quest Diagnostics's ROE falls below industry averages, indicating challenges in efficiently using equity capital. With an ROE of 3.35%, the company may face hurdles in generating optimal returns for shareholders.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 1.5%, the company showcases effective utilization of assets.
Debt Management: Quest Diagnostics's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 1.02.
<h2>How Are Analyst Ratings Determined?</h2>
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. 
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

The Analyst Landscape: 8 Takes On Quest Diagnostics

Jefferies analyst Tycho Peterson assumes Quest Diagnostics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DGX#NYSE">DGX</a>) with a Buy rating and announces Price Target of $185.

Initiation

Jefferies Assumes Quest Diagnostics at Buy, Announces Price Target of $185

On December 2, it was revealed in an SEC filing that Catherine T Doherty, EVP at Quest Diagnostics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DGX#NYSE">DGX</a>) executed a significant exercise of company stock options.
What Happened: Disclosed in a Form 4 filing on Monday with the <a href="https://www.sec.gov/Archives/edgar/data/0001022079/000102207924000206//Archives/edgar/data/1022079/000102207924000206/0001022079-24-000206-index.htm">U.S. Securities and Exchange Commission</a>, Doherty, EVP at Quest Diagnostics, executed a strategic derivative sale. This involved exercising stock options for 33,103 shares of DGX, resulting in a transaction value of $1,887,864.
During Tuesday's morning session, Quest Diagnostics shares down by 0.56%, currently priced at $160.6. Considering the current price, Doherty's 33,103 shares have a total value of $1,887,864.
<h3>Get to Know Quest Diagnostics Better</h3>
Quest Diagnostics is a leading independent provider of diagnostic testing, information, and services in the us. The company generates over 95% of its revenue through clinical testing, anatomic pathology, esoteric testing, and substance abuse testing with specimens collected at its national network of roughly 2,300 patient service centers, as well as multiple doctors offices and hospitals. The firm also runs a much smaller diagnostic solutions segment that provides clinical trials testing, risk-assessment services, and information technology solutions.
<h3>Quest Diagnostics: A Financial Overview</h3>
Revenue Growth: Quest Diagnostics displayed positive results in 3 months. As of 30 September, 2024, the company achieved a solid revenue growth rate of approximately 8.41%. This indicates a notable increase in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Health Care sector.
Analyzing Profitability Metrics:
<ul>
<li>
Gross Margin: With a high gross margin of 32.6%, the company demonstrates effective cost control and strong profitability relative to its peers.
</li>
<li>
Earnings per Share (EPS): Quest Diagnostics's EPS is notably higher than the industry average. The company achieved a positive bottom-line trend with a current EPS of 2.01.
</li>
</ul>
Debt Management: Quest Diagnostics's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 1.02.
Insights into Valuation Metrics:
<ul>
<li>
Price to Earnings (P/E) Ratio: The Price to Earnings ratio of 21.71 is lower than the industry average, indicating potential undervaluation for the stock.
</li>
<li>
Price to Sales (P/S) Ratio: With a lower-than-average P/S ratio of 1.89, the stock presents an attractive valuation, potentially signaling a buying opportunity for investors interested in sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): Quest Diagnostics's EV/EBITDA ratio at 13.61 suggests potential undervaluation, falling below industry averages.
</li>
</ul>
Market Capitalization Analysis: Above industry benchmarks, the company's market capitalization emphasizes a noteworthy size, indicative of a strong market presence.
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<h3>Exploring the Significance of Insider Trading</h3>
Insider transactions shouldn't be used primarily to make an investing decision, however an insider transaction can be an important factor in the investing decision. 
In legal terms, an "insider" refers to any officer, director, or beneficial owner of more than ten percent of a company's equity securities registered under Section 12 of the Securities Exchange Act of 1934. This can include executives in the c-suite and large hedge funds. These insiders are required to let the public know of their transactions via a Form 4 filing, which must be filed within two business days of the transaction.
When a company insider makes a new purchase, that is an indication that they expect the stock to rise.
Insider sells, on the other hand, can be made for a variety of reasons, and may not necessarily mean that the seller thinks the stock will go down. 
<h3>A Deep Dive into Insider Transaction Codes</h3>
Delving into transactions, <a href="https://www.benzinga.com/money/investing-tools">investors</a> typically prioritize those unfolding in the open market, as precisely outlined in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0001022079">Check Out The Full List Of Quest Diagnostics's Insider Trades.</a>
Insider Buying Alert: Profit from C-Suite Moves
Benzinga Edge reveals every insider trade in real-time. Don't miss the next big stock move driven by insider confidence. Unlock this ultimate sentiment indicator now. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22in8&amp;utm_source=benzinga-insights">Click here for access</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insider Trades

Insider Activity Update: Catherine T Doherty Executes Options Exercise, Resulting In $1.89M At Quest Diagnostics

Quest Diagnostics's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DGX#NYSE">DGX</a>) short percent of float has risen 8.61% since its last report. The company recently reported that it has 2.59 million shares sold short, which is 2.65% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.64 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Quest Diagnostics Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1733147112_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Quest Diagnostics has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Quest Diagnostics's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Quest Diagnostics's peer group average for short interest as a percentage of float is 8.08%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

(DGX) - Analyzing Quest Diagnostics's Short Interest

Quest Diagnostics's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DGX#NYSE">DGX</a>) short percent of float has risen 17.82% since its last report. The company recently reported that it has 2.33 million shares sold short, which is 2.38% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.93 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Quest Diagnostics Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1731342624_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Quest Diagnostics has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Quest Diagnostics's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Quest Diagnostics's peer group average for short interest as a percentage of float is 7.57%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

How Is The Market Feeling About Quest Diagnostics?

On Wednesday, Donald Trump, the Republican candidate and former president, was elected to the highest office again, marking a return to an administration. His second term is likely to impact U.S. healthcare.
Trump has been unclear about his healthcare policy goals during his campaign. Healthcare <a target="_blank" href="https://www.kff.org/health-care-in-2024-elections-apvotecast-polling/?entry=kff-analysis-of-ap-votecast-abortion-ballot-initiatives" rel="noreferrer noopener">ranked</a> lower than issues like the economy and immigration in voter concerns.
A <a target="_blank" href="https://apnews.com/article/ap-votecast-elections-harris-trump-voters-d5cf4e3611f50ec4349d93ddc7f037cd" rel="noreferrer noopener">poll</a> from the Associated Press found that only 8% of voters viewed healthcare as their top issue, compared to 39% who chose the economy and 20% who picked immigration. Abortion was the leading issue for 11% of voters.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/24/11/41822473/trumps-potential-health-czar-robert-f-kennedy-jr-rattles-vaccine-stocks-shoot-first-reaction" rel="noreferrer noopener">Trump&#8217;s Potential &#8216;Health Czar&#8217; Robert F. Kennedy Jr. Rattles Vaccine Stocks: &#8216;Shoot First Reaction&#8217;</a>
Despite his focus on &#8220;Make America Healthy Again,&#8221; millions of Americans may lose health insurance subsidies next year, depending on the political climate after the election and the Republicans&#8217; control of the Senate.
The subsidies, expanded under the 2021 American Rescue Plan, help many, particularly the middle class, afford health insurance through the Affordable Care Act (ACA).
These subsidies are set to expire at the end of 2025, and it remains uncertain whether they will be extended under the new administration.
Trump and other Republicans have opposed continuing the subsidies.
The NBC News <a target="_blank" href="https://www.nbcnews.com/health/health-news/millions-risk-losing-health-insurance-trumps-victory-rcna179146" rel="noreferrer noopener">report</a>, citing some analysts, suggests that the chances of extension could be less than 5% if Republicans win control of the House and the Senate.
Even if Democrats control the House, extending these subsidies seems unlikely. Without an extension, nearly 4 million Americans could lose coverage by 2026 due to unaffordable premiums.
The 2021 changes led to a surge in ACA enrollment, with 15.5 million people benefiting from subsidies across 32 states. The report adds that if the subsidies aren&#8217;t renewed, up to 15.4 million Americans could lose health coverage by 2030.
Another significant issue is Trump&#8217;s stance on Medicare. As president, he supported Medicare Advantage, a private insurer-run program that could eventually replace traditional, government-run Medicare.
The NPR report <a target="_blank" href="https://www.npr.org/sections/shots-health-news/2024/11/07/nx-s1-5183092/trump-election-2024-medicare-advantage" rel="noreferrer noopener">highlights</a> that critics argue that expanding private insurers could increase costs for taxpayers and limit care, with some beneficiaries finding it difficult to switch back to traditional Medicare.
Robert Berenson, a former government official, warned that traditional Medicare could &#8220;wither on the vine.&#8221;
Medicare Advantage grew with the 2003 legislation introducing a drug benefit and expanded private insurers&#8217; role in the program. Although private plans were expected to lower costs, they have been more expensive.
The report also says that in 2023, Medicare Advantage plans cost taxpayers about 6% — or $27 billion — more than traditional Medicare, though some research suggests they offer better care.
The future of healthcare policy in the U.S. will depend on the political dynamics in Congress and Trump&#8217;s second term.
With Republicans pushing for major changes to the ACA and Medicare, experts warn of significant shifts in how Americans access and pay for healthcare in the coming years.
Read Next
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</ul>
Photo via Shutterstock

Regulations

Politics

ALHC

CLOV

Laboratory Corporation Of America Holdings

Donald Trump's Second Term Could Reshape US Healthcare System, With Major Impacts on Affordable Care Act And Medicare

It was reported on October 30, that Karthik Kuppusamy, SVP at Quest Diagnostics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DGX#NYSE">DGX</a>) executed a significant insider sell, according to an SEC filing.
What Happened: Kuppusamy's recent move involves selling 1,775 shares of Quest Diagnostics. This information is documented in a Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0001022079/000102207924000202//Archives/edgar/data/1022079/000102207924000202/0001022079-24-000202-index.htm">U.S. Securities and Exchange Commission</a> on Wednesday. The total value is $278,525.
Quest Diagnostics's shares are actively trading at $155.52, experiencing a down of 0.28% during Thursday's morning session.
<h3>Delving into Quest Diagnostics's Background</h3>
Quest Diagnostics is a leading independent provider of diagnostic testing, information, and services in the us. The company generates over 95% of its revenue through clinical testing, anatomic pathology, esoteric testing, and substance abuse testing with specimens collected at its national network of roughly 2,300 patient service centers, as well as multiple doctors offices and hospitals. The firm also runs a much smaller diagnostic solutions segment that provides clinical trials testing, risk-assessment services, and information technology solutions.
<h3>Quest Diagnostics: Delving into Financials</h3>
Revenue Growth: Quest Diagnostics's remarkable performance in 3 months is evident. As of 30 September, 2024, the company achieved an impressive revenue growth rate of 8.41%. This signifies a substantial increase in the company's top-line earnings. When compared to others in the Health Care sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Key Profitability Indicators:
<ul>
<li>
Gross Margin: The company excels with a remarkable gross margin of 32.6%, indicating superior cost efficiency and profitability compared to its industry peers.
</li>
<li>
Earnings per Share (EPS): The company excels with an EPS that surpasses the industry average. With a current EPS of 2.01, Quest Diagnostics showcases strong earnings per share.
</li>
</ul>
Debt Management: With a below-average debt-to-equity ratio of 1.02, Quest Diagnostics adopts a prudent financial strategy, indicating a balanced approach to debt management.
Valuation Analysis:
<ul>
<li>
Price to Earnings (P/E) Ratio: The Price to Earnings ratio of 20.96 is lower than the industry average, indicating potential undervaluation for the stock.
</li>
<li>
Price to Sales (P/S) Ratio: With a lower-than-average P/S ratio of 1.82, the stock presents an attractive valuation, potentially signaling a buying opportunity for investors interested in sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): The company's EV/EBITDA ratio of 13.26 trails industry averages, indicating a potential disparity in market valuation that could be advantageous for investors.
</li>
</ul>
Market Capitalization Analysis: Above industry benchmarks, the company's market capitalization emphasizes a noteworthy size, indicative of a strong market presence.
<a href="https://www.schwab.com/brokerage?aff=XEC">Now trade stocks online commission free with Charles Schwab, a trusted and complete investment firm.</a>
<h3>Uncovering the Importance of Insider Activity</h3>
While insider transactions should not be the sole basis for making investment decisions, they can play a significant role in an investor's decision-making process.
In legal terms, an "insider" refers to any officer, director, or beneficial owner of more than ten percent of a company's equity securities registered under Section 12 of the Securities Exchange Act of 1934. This can include executives in the c-suite and large hedge funds. These insiders are required to let the public know of their transactions via a Form 4 filing, which must be filed within two business days of the transaction.
When a company insider makes a new purchase, that is an indication that they expect the stock to rise.
Insider sells, on the other hand, can be made for a variety of reasons, and may not necessarily mean that the seller thinks the stock will go down. 
<h3>Transaction Codes Worth Your Attention</h3>
For <a href="https://www.benzinga.com/money/investing-tools">investors</a>, a primary focus lies on transactions occurring in the open market, as indicated in Table I of the Form 4 filing. A P in Box 3 denotes a purchase, while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0001022079">Check Out The Full List Of Quest Diagnostics's Insider Trades.</a>
Insider Buying Alert: Profit from C-Suite Moves
Benzinga Edge reveals every insider trade in real-time. Don't miss the next big stock move driven by insider confidence. Unlock this ultimate sentiment indicator now. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22in8&amp;utm_source=benzinga-insights">Click here for access</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Quest Diagnostics SVP Trades Company's Stock

Piper Sandler analyst David Westenberg maintains Quest Diagnostics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DGX#NYSE">DGX</a>) with a Neutral and raises the price target from $150 to $165.

Piper Sandler Maintains Neutral on Quest Diagnostics, Raises Price Target to $165

Thursday, Laboratory Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LH#NYSE">LH</a>) reported third-quarter 2024 adjusted earnings per share of $3.50, up from $3.38 a year ago, beating <a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">the consensus of $3.49</a>.
Sales increased 7.4% year-over-year to $3.28 billion, almost in line with the consensus of $3.26 billion.
The increase was due to organic revenue of 4.2%, acquisitions, net of divestitures of 3.1%, and foreign <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/n41512196/labcorp-announces-2024-third-quarter-results" rel="noreferrer noopener">currency translation of 0.1%</a>.
The 4.2% increase in organic revenue was driven by a 4.8% increase in the company's organic Base Business, partially offset by a (0.6%) decrease in COVID-19 testing.&nbsp;
Also Read: <a target="_blank" href="https://www.benzinga.com/news/large-cap/24/08/40559658/diagnostic-giants-labcorp-roche-to-ramp-up-testing-capacity-amid-global-concerns-over-new-mpox-str" rel="noreferrer noopener">Diagnostic Giants Labcorp, Roche To Ramp Up Testing Capacity Amid Global Concerns Over New Mpox Strain</a>
Adjusted operating income for the quarter was&nbsp;$441.1&nbsp;million, or 13.4% of revenue, compared to&nbsp;$423.9 million, or 13.9%, in the third quarter of 2023.
William Blair reported that the operating margin came in about 30 basis points below expectations, primarily due to a lower margin in the diagnostics segment, which stood at 15.2%. This decline was influenced by fewer operational days caused by adverse weather and <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38442059/labcorps-q1-revenue-surpasses-forecasts-analysts-scrutinize-invitae-deal" rel="noreferrer noopener">dilution from Invitae</a>.
Diagnostics Laboratories revenue for the quarter was&nbsp;$2.55 billion, an increase of 8.9%.
Biopharma Laboratory Services revenue increased 2.6% to $737.7 million.
Guidance:&nbsp;LabCorp expects 2024 adjusted EPS of $14.30-$14.70, compared to <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40109789/labcorps-stock-soars-after-q2-performance-analyst-highlights-strong-position-in-hea" rel="noreferrer noopener">prior guidance of $14.30-$14.90</a> and the consensus of $14.56.
The analyst notes that adjusted EPS guidance was lowered due to a $0.15 headwind from adverse weather impacts and offset by slightly better underlying trends.
The weather impact was slightly greater than expected, but William Blair believes investors will likely overlook this factor, as they did with Quest Diagnostics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DGX#NYSE">DGX</a>) <a target="_blank" href="https://www.benzinga.com/news/earnings/24/10/41458004/quest-diagnostics-ceo-touts-new-customer-wins-in-q3-expects-earnings-growth-in-2025" rel="noreferrer noopener">earlier in the week</a>.
The analyst noted that LabCorp could experience a more significant effect from the weather this quarter, given its higher exposure to North Carolina, which was impacted by Hurricane Helene, compared to Quest.
The company expects 2024 revenue growth of 6.6%-7.3%, compared to the prior guidance range of 6.4%-7.5% and the consensus of 12.96 billion.
The guidance includes 2024 Diagnostics Laboratories sales growth of 7.2%-7.8% and Biopharma Laboratory Services&nbsp;sales growth of 4.7%-5.6% versus prior guidance of 6.9%-7.9% and 3.7%-5.0%, respectively.
Price Action: Laboratory stock is up 6.37% at $233.91 at last check Thursday.
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Analyst Color

Earnings

Large Cap

Guidance

Movers

Laboratory Corp Q3 Earnings Beat Street View, Investors Overlook Hurricane Helene Impact

Mizuho analyst Ann Hynes maintains Quest Diagnostics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DGX#NYSE">DGX</a>) with a Outperform and raises the price target from $160 to $174.

Mizuho Maintains Outperform on Quest Diagnostics, Raises Price Target to $174

UBS analyst Kevin Caliendo maintains Quest Diagnostics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DGX#NYSE">DGX</a>) with a Neutral and raises the price target from $165 to $166.

UBS Maintains Neutral on Quest Diagnostics, Raises Price Target to $166

Citigroup analyst Patrick Donnelly maintains Quest Diagnostics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DGX#NYSE">DGX</a>) with a Buy and raises the price target from $165 to $185.

Citigroup Maintains Buy on Quest Diagnostics, Raises Price Target to $185

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>Piper Sandler analyst Alexander Goldfarb upgraded the rating for BXP, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BXP#NYSE">BXP</a>) from Neutral to Overweight and raised the price target from $78 to $105. BXP shares closed at $86.82 on Tuesday. <a href="https://www.benzinga.com/quote/bxp/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>JMP Securities analyst Andrew Boone upgraded Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) from Market Perform to Market Outperform and announced a $17 price target. Snap shares closed at $9.98 on Tuesday. <a href="https://www.benzinga.com/quote/snap/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Argus Research analyst David Coleman upgraded the rating for Alcoa Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AA#NYSE">AA</a>) from Hold to Buy. Alcoa shares closed at $42.02 on Tuesday. <a href="https://www.benzinga.com/quote/aa/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>UBS analyst Damian Karas upgraded A. O. Smith Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AOS#NYSE">AOS</a>) from Sell to Neutral and raised the price target from $75 to $80. A.O. Smith shares closed at $78.21 on Tuesday. <a href="https://www.benzinga.com/quote/aos/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Baird analyst Eric Coldwell upgraded the rating for Quest Diagnostics Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DGX#NYSE">DGX</a>) from Neutral to Outperform and boosted the price target from $157 to $182. Quest Diagnostics shares closed at $157.47 on Tuesday. <a href="https://www.benzinga.com/quote/dgx/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
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</ul>

SNAP

This Snap Analyst Turns Bullish; Here Are Top 5 Upgrades For Wednesday

Barclays analyst Stephanie Davis maintains Quest Diagnostics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DGX#NYSE">DGX</a>) with a Equal-Weight and raises the price target from $154 to $168.

Barclays Maintains Equal-Weight on Quest Diagnostics, Raises Price Target to $168

Jefferies analyst Tycho Peterson assumed coverage of Quest Diagnostics (DGX) with a Buy rating and a price target of $185, up from $175. Larger ful...

Quest Diagnostics assumed with a Buy at Jefferies

BofA raised the firm's price target on Quest Diagnostics (DGX) to $182 from $179 and keeps a Buy rating on the shares. The Life Sciences Tools sect...

Quest Diagnostics price target raised to $182 from $179 at BofA

Analysts have been eager to weigh in on the Healthcare sector with new ratings on Ultragenyx Pharmaceutical (RARE – Research Report), Bicycle Thera...

Analysts Have Conflicting Sentiments on These Healthcare Companies: Ultragenyx Pharmaceutical (RARE), Bicycle Therapeutics (BCYC) and Quest Diagnostics (DGX)

Morgan Stanley upgraded Quest Diagnostics (DGX) to Overweight from Equal Weight with a price target of $172, up from $145. The firm sees "increment...

Quest Diagnostics upgraded to Overweight from Equal Weight at Morgan Stanley

The most talked about and market moving research calls around Wall Street are now in one place. Here are today's research calls that investors need...

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Morgan Stanley ups Quest to overweight from equal weight

Mainz Biomed (MYNZ) announced an agreement with Quest Diagnostics (DGX), a leading provider of diagnostic information services, to support commerci...

Mainz Biomed forms agreement with Quest Diagnostics

Quest Diagnostics deal sends Mainz higher

Mizuho analyst Ann Hynes raised the firm's price target on Quest Diagnostics (DGX) to $177 from $174 and keeps an Outperform rating on the shares i...

Quest Diagnostics price target raised to $177 from $174 at Mizuho

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BCYC

COMM

CSCO

CTSH

EHTH

EPAM

EVGO

GLOB

HNST

MAMA

MITK

MTCH

OTEX

QCOM

QUBT

RARE

RCAT

SEDG

SHLS

SLAB

SNYNF

VBNK

Press Releases

Quest Diagnostics to Release Third Quarter 2024 Financial Results on October 22, 2024

Quest Diagnostics Completes Acquisition of Lab Assets from OhioHealth

Quest Diagnostics Introduces Specimen Self-Collection for Common Genital Tract Infection Testing at Nationwide Network of Patient Service Centers

Quest Diagnostics Reports Third Quarter 2024 Financial Results; Updates Guidance for Full Year 2024

Contracts

Quest Diagnostics Awarded CDC Contracts for H5 Avian Influenza and Oropouche Virus Test Development

Dividends

Quest Diagnostics Declares Quarterly Cash Dividend

Quest Diagnostics Launches Health Coaching on questhealth.com to Help Individuals Take Control of Their Health

Quest Diagnostics to Speak at the 7th Annual Evercore HealthCONx Conference

Mainz Biomed Forms Agreement with Quest Diagnostics to Provide Clinical Trials Laboratory Services for Colorectal Cancer Screening Test

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