Quest Diagnostics Incorporated (NYSE:DGX) SVP Sells $789,310.00 in Stock

Quest Diagnostics Incorporated (NYSE:DGX) SVP Michael E. Prevoznik sold 4,643 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $170.00, for a total transaction of $789,310.00. Following the completion of the sale, the senior vice president now owns 38,117 shares in the company, valued at $6,479,890. This represents a 10.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Quest Diagnostics Price Performance

DGX opened at $166.96 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.02 and a current ratio of 1.10. Quest Diagnostics Incorporated has a 52-week low of $125.42 and a 52-week high of $178.87. The stock has a market capitalization of $18.53 billion, a PE ratio of 21.71, a price-to-earnings-growth ratio of 2.16 and a beta of 0.92. The stock’s 50 day moving average price is $165.18 and its 200-day moving average price is $158.60.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Thursday, January 30th. The medical research company reported $2.23 earnings per share for the quarter, topping the consensus estimate of $2.19 by $0.04. Quest Diagnostics had a return on equity of 15.07% and a net margin of 8.80%. On average, equities research analysts predict that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be paid a $0.80 dividend. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Monday, April 7th. Quest Diagnostics’s dividend payout ratio is currently 41.61%.

Analyst Upgrades and Downgrades

DGX has been the subject of several analyst reports. UBS Group raised their target price on shares of Quest Diagnostics from $166.00 to $170.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Bank of America raised their price target on Quest Diagnostics from $179.00 to $182.00 and gave the company a “buy” rating in a report on Friday, December 13th. Piper Sandler reaffirmed a “neutral” rating and set a $180.00 price target (up previously from $165.00) on shares of Quest Diagnostics in a report on Monday, February 3rd. Leerink Partnrs raised Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Finally, Citigroup downgraded Quest Diagnostics from a “buy” rating to a “neutral” rating and set a $185.00 price target for the company. in a report on Tuesday, March 4th. Eight investment analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $178.38.

Institutional Investors Weigh In On Quest Diagnostics

A number of institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC grew its stake in shares of Quest Diagnostics by 159.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 27,615 shares of the medical research company’s stock worth $4,166,000 after acquiring an additional 16,958 shares during the last quarter. Siemens Fonds Invest GmbH lifted its holdings in shares of Quest Diagnostics by 625.8% during the fourth quarter. Siemens Fonds Invest GmbH now owns 27,640 shares of the medical research company’s stock valued at $4,170,000 after purchasing an additional 23,832 shares in the last quarter. Menard Financial Group LLC bought a new position in shares of Quest Diagnostics during the fourth quarter valued at $109,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Quest Diagnostics during the fourth quarter valued at $33,698,000. Finally, Jefferies Financial Group Inc. lifted its holdings in shares of Quest Diagnostics by 17.0% during the fourth quarter. Jefferies Financial Group Inc. now owns 24,900 shares of the medical research company’s stock valued at $3,756,000 after purchasing an additional 3,627 shares in the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

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.