Quest Diagnostics: What The Heck Is Happening?
Quest Diagnostics Inc (NYSE: DGX) is up nearly 10 percent on Friday after unconfirmed market chatter suggested the company has hired Goldman Sachs to explore a sale.
Shares were halted on volatility at 10:34 a.m. ET, and since resuming, shares hit the $86 mark before trading down near $81.
Bloomberg reporter Tara Lachapelle tweeted "is this $dgx and $lh stuff just an avon sequel...," adding: "avon part 2?" in a separate post.
Lachapelle has since deleted the tweets.
According to RBC Analyst Frank G. Morgan, "DGX's spike is probably just a rumor, things like this happen all the time." In an interview with Benzinga, Morgan highlighted the litany of unsubstantiated rumors that take place in the healthcare space.
Quest Diagnostics declined to comment on the share price move.
As of this writing, Quest is up 9.2 percent on the day.
Latest Ratings for DGX
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Feb 2022 | UBS | Downgrades | Buy | Neutral |
| Feb 2022 | Morgan Stanley | Maintains | Equal-Weight | |
| Feb 2022 | Wells Fargo | Maintains | Equal-Weight |
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