Quest Diagnostics Incorporated: Stock Monthly Report
Publication Date: September 22, 2024
Company Overview
Quest Diagnostics Incorporated (DGX), headquartered in Secaucus, New Jersey, is a prominent player in the healthcare sector, renowned for its diagnostic testing and research services. Established in 1967, Quest specializes in offering a broad spectrum of essential services including routine and advanced clinical testing, anatomic pathology testing, and healthcare IT solutions both domestically and internationally. The firm operates a robust network that caters to physicians, hospitals, patients, and insurers under a variety of esteemed brands. With a current market focus and industry expertise, Quest Diagnostics represents a compelling investment opportunity within the lucrative healthcare market.
Financial Performance and Market Sentiment
Currently, Quest Diagnostics has reported a total revenue of approximately $9.35 billion, solidifying its position for potential growth. Recently, analysts have set a target high price of $168.00, indicating a bullish outlook on the stock’s performance. The current trading price of DGX stands at $152.99, establishing a potential price appreciation opportunity. The average recommendation score from a panel of 15 analysts is rated at 2.3, indicating a consensus “buy” stance. Moreover, with only 2.62% of shares shorted, investor confidence appears robust, making DGX an appealing pick for investors keen on advancing in healthcare diagnostics and research.
Share Performance and Price Analysis
Analyzing DGX’s stock performance reveals significant price movement potential. The current price is comfortably situated between the fifty-two week high of $159.36 and the low of $119.59, closer to its peak, thus reflecting a stable market position. The fifty-day moving average is at $150.35, signaling a bullish trend as the current price exceeds this average. The calculated target mean price of $155.05 and a target median price of $154.68 further suggest that analysts anticipate continued progression in stock value. As the healthcare diagnostics sector continues to evolve, DGX stands poised to capitalize on advancements, promising attractive returns for potential investors.
| Metric | Value |
|---|---|
| Market Cap | $17.0b |
| Total Debt | $5.1b |
| Total Cash | $271.0m |
| Shares Outstanding | 111.3m |
| Float Shares | 110.4m |
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