Quest Diagnostics Incorporated [DGX] Is Currently 0.28 below its 200 Period Moving Avg: What Dose This Mean?

Quest Diagnostics Incorporated [NYSE: DGX] stock went on an upward path that rose over 0.28% on Friday, amounting to a one-week price increase of more than 2.85%. The company report on June 22, 2021 that Biocept to Collaborate with Quest Diagnostics to Provide Advanced NGS-Based Liquid Biopsy Testing for Patients with Lung Cancer.

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Biocept, Inc. (Nasdaq: BIOC), a leading provider of molecular diagnostic assays, products and services, announced a collaboration with Quest Diagnostics (NYSE: DGX) to provide laboratory testing services to Quest patients for its Target Selector™ NGS-based liquid biopsy targeted lung cancer panel. Quest Diagnostics is the leading provider of diagnostic information services, including in advanced diagnostics.

The Biocept Target Selector NGS-based liquid biopsy assay is a less invasive, lab developed test that can be used for genomic profiling in patients with advanced non-small cell lung cancer (NSCLC) to help qualify them for advanced targeted therapies and monitor the effectiveness of treatment. With a physician order, patients will be able to provide a blood specimen for testing at one of Quest’s 2,200 conveniently located patient service centers across the United States. The two parties expect the service to be available to Quest Diagnostics’ providers and patients in the fourth quarter of 2021.

Over the last 12 months, DGX stock rose by 14.89%. The one-year Quest Diagnostics Incorporated stock forecast points to a potential upside of 8.19. The average equity rating for DGX stock is currently 2.10, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $17.37 billion, with 133.00 million shares outstanding and 129.98 million shares in the current float. Compared to the average trading volume of 1.16M shares, DGX stock reached a trading volume of 914048 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Quest Diagnostics Incorporated [DGX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for DGX shares is $145.21 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on DGX stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

UBS have made an estimate for Quest Diagnostics Incorporated shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 04, 2021. The new note on the price target was released on March 12, 2021, representing the official price target for Quest Diagnostics Incorporated stock.

The Average True Range (ATR) for Quest Diagnostics Incorporated is set at 1.89, with the Price to Sales ratio for DGX stock in the period of the last 12 months amounting to 1.68. The Price to Book ratio for the last quarter was 2.63, with the Price to Cash per share for the same quarter was set at 9.44. Price to Free Cash Flow for DGX in the course of the last twelve months was 9.83 with Quick ratio for the last quarter at 1.60.

DGX Stock Performance Analysis:

Quest Diagnostics Incorporated [DGX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.85. With this latest performance, DGX shares gained by 4.04% in over the last four-week period, additionally plugging by 11.87% over the last 6 months – not to mention a rise of 14.89% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for DGX stock in for the last two-week period is set at 61.71, with the RSI for the last a single of trading hit 68.29, and the three-weeks RSI is set at 57.93 for Quest Diagnostics Incorporated [DGX]. The present Moving Average for the last 50 days of trading for this stock 131.55, while it was recorded at 132.58 for the last single week of trading, and 124.84 for the last 200 days.

Insight into Quest Diagnostics Incorporated Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Quest Diagnostics Incorporated [DGX] shares currently have an operating margin of +22.31 and a Gross Margin at +38.30. Quest Diagnostics Incorporated’s Net Margin is presently recorded at +15.10.

Return on Total Capital for DGX is now 18.40, given the latest momentum, and Return on Invested Capital for the company is 13.39. Return on Equity for this stock inclined to 22.98, with Return on Assets sitting at 10.61. When it comes to the capital structure of this company, Quest Diagnostics Incorporated [DGX] has a Total Debt to Total Equity ratio set at 71.13. Additionally, DGX Total Debt to Total Capital is recorded at 41.57, with Total Debt to Total Assets ending up at 34.28. Long-Term Debt to Equity for the company is recorded at 66.76, with the Long-Term Debt to Total Capital now at 39.01.

Reflecting on the efficiency of the workforce at the company, Quest Diagnostics Incorporated [DGX] managed to generate an average of $29,082 per employee. Receivables Turnover for the company is 7.30 with a Total Asset Turnover recorded at a value of 0.70.Quest Diagnostics Incorporated’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 1.80.

DGX Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for DGX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Quest Diagnostics Incorporated go to -8.66%.

Quest Diagnostics Incorporated [DGX] Insider Position Details

There are presently around $15,440 million, or 92.30% of DGX stock, in the hands of institutional investors. The top three institutional holders of DGX stocks are: VANGUARD GROUP INC with ownership of 14,303,416, which is approximately -0.239% of the company’s market cap and around 0.60% of the total institutional ownership; BLACKROCK INC., holding 11,701,114 shares of the stock with an approximate value of $1.56 billion in DGX stocks shares; and STATE STREET CORP, currently with $808.4 million in DGX stock with ownership of nearly -4.6% of the company’s market capitalization.

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Positions in Quest Diagnostics Incorporated stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 371 institutional holders increased their position in Quest Diagnostics Incorporated [NYSE:DGX] by around 9,418,452 shares. Additionally, 369 investors decreased positions by around 10,355,988 shares, while 147 investors held positions by with 96,039,828 shares. The mentioned changes placed institutional holdings at 115,814,268 shares, according to the latest SEC report filing. DGX stock had 87 new institutional investments in for a total of 902,845 shares, while 78 institutional investors sold positions of 2,099,070 shares during the same period.

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