First Citizens Bank & Trust Co. Sells 39,114 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

First Citizens Bank & Trust Co. cut its holdings in Quest Diagnostics Incorporated (NYSE:DGX) by 80.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,243 shares of the medical research company’s stock after selling 39,114 shares during the period. First Citizens Bank & Trust Co.’s holdings in Quest Diagnostics were worth $1,265,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Altshuler Shaham Ltd bought a new position in Quest Diagnostics in the fourth quarter worth approximately $26,000. Spartan Planning & Wealth Management bought a new stake in shares of Quest Diagnostics during the 4th quarter valued at $31,000. TruNorth Capital Management LLC bought a new stake in shares of Quest Diagnostics during the 2nd quarter valued at $33,000. Alaska Permanent Fund Corp raised its position in shares of Quest Diagnostics by 79.3% during the 4th quarter. Alaska Permanent Fund Corp now owns 242 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 107 shares during the period. Finally, Riverview Trust Co bought a new stake in shares of Quest Diagnostics during the 1st quarter valued at $33,000. 88.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

DGX has been the topic of several recent analyst reports. Barclays raised their price objective on shares of Quest Diagnostics from $138.00 to $144.00 and gave the company an “equal weight” rating in a research report on Thursday, April 25th. StockNews.com upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Robert W. Baird raised their price objective on shares of Quest Diagnostics from $153.00 to $154.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. UBS Group raised their price objective on shares of Quest Diagnostics from $139.00 to $146.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Finally, JPMorgan Chase & Co. raised their target price on shares of Quest Diagnostics from $152.00 to $155.00 and gave the company a “neutral” rating in a research note on Thursday, May 30th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $150.58.

Insider Activity

In other news, SVP Mark E. Delaney sold 420 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $143.08, for a total transaction of $60,093.60. Following the sale, the senior vice president now directly owns 5,019 shares in the company, valued at approximately $718,118.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.79% of the company’s stock.

Quest Diagnostics Price Performance

Shares of NYSE DGX traded down $0.52 during mid-day trading on Tuesday, hitting $150.60. 108,906 shares of the company’s stock traded hands, compared to its average volume of 979,201. The company’s 50-day moving average is $143.20 and its two-hundred day moving average is $136.27. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.00 and a quick ratio of 0.91. The company has a market capitalization of $16.73 billion, a P/E ratio of 20.34, a PEG ratio of 2.69 and a beta of 0.89. Quest Diagnostics Incorporated has a 1 year low of $119.59 and a 1 year high of $152.88.

Quest Diagnostics (NYSE:DGX) last announced its earnings results on Tuesday, July 23rd. The medical research company reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.04. The firm had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.39 billion. Quest Diagnostics had a net margin of 8.99% and a return on equity of 15.35%. The business’s revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the company earned $2.30 EPS. On average, equities analysts anticipate that Quest Diagnostics Incorporated will post 8.89 EPS for the current fiscal year.

Quest Diagnostics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Friday, October 4th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Friday, October 4th. Quest Diagnostics’s dividend payout ratio is 40.38%.

Quest Diagnostics Company Profile

Quest Diagnostics Incorporated provides diagnostic testing and services in the United States and internationally. The company develops and delivers diagnostic information services, such as routine, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.