Global Trust Asset Management LLC acquired a new position in shares of Quest Diagnostics Incorporated (NYSE:DGX – Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 328 shares of the medical research company’s stock, valued at approximately $49,000.
Several other institutional investors and hedge funds have also added to or reduced their stakes in DGX. Versant Capital Management Inc grew its stake in shares of Quest Diagnostics by 340.4% during the fourth quarter. Versant Capital Management Inc now owns 251 shares of the medical research company’s stock worth $38,000 after buying an additional 194 shares during the last quarter. First Financial Corp IN bought a new stake in Quest Diagnostics during the 4th quarter worth $38,000. Sunbelt Securities Inc. acquired a new position in Quest Diagnostics in the 2nd quarter worth about $40,000. Quarry LP acquired a new stake in shares of Quest Diagnostics during the second quarter valued at about $74,000. Finally, Sentry Investment Management LLC bought a new stake in shares of Quest Diagnostics during the third quarter worth about $82,000. Institutional investors own 88.06% of the company’s stock.
Insiders Place Their Bets
In other Quest Diagnostics news, SVP Karthik Kuppusamy sold 1,775 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $156.92, for a total transaction of $278,533.00. Following the transaction, the senior vice president now owns 9,734 shares in the company, valued at approximately $1,527,459.28. This represents a 15.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Michael J. Deppe sold 18,755 shares of Quest Diagnostics stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $154.05, for a total transaction of $2,889,207.75. Following the transaction, the chief accounting officer now owns 34,941 shares of the company’s stock, valued at $5,382,661.05. This represents a 34.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.79% of the company’s stock.
Quest Diagnostics Stock Performance
Quest Diagnostics (NYSE:DGX – Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The medical research company reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.04. The firm had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.43 billion. Quest Diagnostics had a net margin of 8.82% and a return on equity of 15.25%. The business’s revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.22 earnings per share. As a group, sell-side analysts anticipate that Quest Diagnostics Incorporated will post 8.9 EPS for the current year.
Quest Diagnostics Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Tuesday, January 14th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Tuesday, January 14th. Quest Diagnostics’s dividend payout ratio (DPR) is currently 40.32%.
Wall Street Analysts Forecast Growth
DGX has been the subject of a number of research reports. Robert W. Baird upgraded shares of Quest Diagnostics from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $157.00 to $182.00 in a report on Wednesday, October 23rd. Piper Sandler raised their price target on shares of Quest Diagnostics from $150.00 to $165.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. Leerink Partnrs raised shares of Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Truist Financial raised their target price on Quest Diagnostics from $158.00 to $165.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. Finally, Morgan Stanley upgraded Quest Diagnostics from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $145.00 to $172.00 in a research report on Tuesday, December 17th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $172.15.
Read Our Latest Stock Analysis on DGX
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.
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