Is This Quest Diagnostics Incorporated (DGX)’s Unjustifiable Rally?

The stock of Quest Diagnostics Incorporated (NYSE:DGX) has been Downgraded to Sell from Neutral by Goldman in its latest research note that was published on July 15. DGX was given a price target of $85 by Goldman, with other Wall Street analysts also giving their reports regarding the stock. Jefferies analysts bumped their recommendation on DGX stock from Hold to Buy in a separate flash note to investors on April 02.

Quest Diagnostics Incorporated, which has current market capitalization of above $14 Billion, published its last quarter earnings on June 30, 2019.

DGX surged by $1.39 during the normal trading session on Thursday and reaching a high of $105.32 during the day while it closed the day at $104.97. The Quest stock had a low trading volume of 1.22 million shares on that day, which is low compared to the average daily volume of 928.59M shares. DGX has also gained 2.19% of its value over the past 7 days. However, the stock has surged by 4.07% in the 3 months of the year. Over the past six months meanwhile, it has gained 19.42% while it has added 26.06% year-on date. Let us now take a look at the stock’s potential support and resistance levels. The publicly traded company was seen to have slipped by -0.33% from its 3 months high price. However, taking another look at DGX will indicate that it is trading +8.28% away from its 90-day low. Looking at the bigger picture, the Quest Diagnostics Incorporated stock has dropped by -3.74% from its 52-week high while it has surged by +32.96% from its 52-week low price.

On June 13, 2019 RUSCKOWSKI STEPHEN H, Chairman, President and CEO sold 244565 shares of the company. The average price for that transaction was $100 per share, which meant that RUSCKOWSKI STEPHEN H earned $24456500 selling the stocks. The sale was made public, with the document of the transaction filed with the SEC. Another insider trading occurred, with Executive Vice President & CFO, GUINAN MARK selling 73005 shares of this stock on June 13, 2019. The average selling price for the stock was $100 per share, with the sold stock accruing $7300500. Following this transaction, the Executive Vice President & CFO GUINAN MARK now holds 66017 shares of the company, which is worth around $6861147.

Looking at the stock’s Technical analysis information over the past 50 days shows that its Raw Stochastic average stood at 95.82%. This figure is better than the company’s 20-day Raw Stochastic average which currently stands at 94.25%. Over the past 20 days, Quest’s Stochastic %K stood at 86.26% while its Stochastic %D was revealed to be 88.85%.