Quest Diagnostics Incorporated (NYSE:DGX) Director Jeffrey M. Leiden sold 296 shares of Quest Diagnostics stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $106.66, for a total transaction of $31,571.36. Following the completion of the transaction, the director now owns 6,000 shares of the company’s stock, valued at approximately $639,960. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Quest Diagnostics Incorporated (NYSE:DGX) traded down 0.49% during midday trading on Tuesday, reaching $106.21. 885,017 shares of the company’s stock traded hands. The firm has a market capitalization of $14.49 billion, a PE ratio of 21.40 and a beta of 0.69. The stock’s 50-day moving average price is $109.15 and its 200 day moving average price is $102.52. Quest Diagnostics Incorporated has a one year low of $79.12 and a one year high of $112.97.
Quest Diagnostics (NYSE:DGX) last posted its earnings results on Tuesday, July 25th. The medical research company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.13. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. Quest Diagnostics had a return on equity of 15.66% and a net margin of 9.28%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.34 EPS. On average, equities research analysts expect that Quest Diagnostics Incorporated will post $5.69 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, July 24th. Investors of record on Monday, July 10th were given a $0.45 dividend. The ex-dividend date was Thursday, July 6th. This represents a $1.80 dividend on an annualized basis and a yield of 1.69%. Quest Diagnostics’s dividend payout ratio is presently 36.29%.
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A number of research firms have recently commented on DGX. BidaskClub upgraded shares of Quest Diagnostics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 29th. UBS AG raised their price objective on shares of Quest Diagnostics from $115.00 to $123.00 and gave the company a “buy” rating in a research report on Thursday, July 6th. Mizuho raised their price objective on shares of Quest Diagnostics from $115.00 to $122.00 and gave the company a “buy” rating in a research report on Monday, June 5th. ValuEngine upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, Barclays PLC restated a “hold” rating and issued a $110.00 price objective on shares of Quest Diagnostics in a research report on Wednesday, July 19th. Nine research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $110.72.
Several hedge funds have recently added to or reduced their stakes in the company. Teachers Advisors LLC increased its stake in Quest Diagnostics by 6.6% in the fourth quarter. Teachers Advisors LLC now owns 177,243 shares of the medical research company’s stock valued at $16,289,000 after buying an additional 11,003 shares during the period. Chevy Chase Trust Holdings Inc. raised its position in shares of Quest Diagnostics by 2.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 118,823 shares of the medical research company’s stock valued at $11,667,000 after buying an additional 2,668 shares in the last quarter. Creative Planning raised its position in shares of Quest Diagnostics by 30.8% in the first quarter. Creative Planning now owns 4,159 shares of the medical research company’s stock valued at $408,000 after buying an additional 980 shares in the last quarter. Gulf International Bank UK Ltd raised its position in shares of Quest Diagnostics by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 45,053 shares of the medical research company’s stock valued at $4,423,000 after buying an additional 625 shares in the last quarter. Finally, Bank of Montreal Can raised its position in shares of Quest Diagnostics by 3.1% in the first quarter. Bank of Montreal Can now owns 292,342 shares of the medical research company’s stock valued at $28,705,000 after buying an additional 8,700 shares in the last quarter. Institutional investors and hedge funds own 90.97% of the company’s stock.
About Quest Diagnostics
Quest Diagnostics Incorporated is a provider of diagnostic information services. The Company operates through two businesses: Diagnostic Information Services and Diagnostic Solutions. The Diagnostic Information Services business develops and delivers diagnostic testing information and services, providing insights that empower and enable a range of customers, including patients, clinicians, hospitals, integrated delivery networks (IDNs), health plans, employers and accountable care organizations (ACOs).
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