Amalgamated Bank Has $3.39 Million Stake in Quest Diagnostics Incorporated (NYSE:DGX)

Amalgamated Bank trimmed its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 24.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,857 shares of the medical research company's stock after selling 7,147 shares during the period. Amalgamated Bank's holdings in Quest Diagnostics were worth $3,393,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Rothschild Investment LLC acquired a new stake in shares of Quest Diagnostics during the second quarter worth approximately $26,000. Innealta Capital LLC bought a new stake in Quest Diagnostics in the 2nd quarter valued at about $31,000. Larson Financial Group LLC boosted its stake in Quest Diagnostics by 77.5% during the 2nd quarter. Larson Financial Group LLC now owns 229 shares of the medical research company's stock valued at $31,000 after purchasing an additional 100 shares during the period. TruNorth Capital Management LLC acquired a new stake in shares of Quest Diagnostics in the second quarter valued at approximately $33,000. Finally, EdgeRock Capital LLC bought a new stake in shares of Quest Diagnostics during the second quarter valued at approximately $35,000. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Quest Diagnostics Trading Up 2.0 %

Shares of NYSE:DGX traded up $3.17 during midday trading on Friday, reaching $159.37. The company had a trading volume of 944,008 shares, compared to its average volume of 848,323. The company has a fifty day simple moving average of $153.52 and a two-hundred day simple moving average of $146.67. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.17 and a current ratio of 1.25. The firm has a market cap of $17.79 billion, a price-to-earnings ratio of 21.42, a price-to-earnings-growth ratio of 2.68 and a beta of 0.89. Quest Diagnostics Incorporated has a 1-year low of $123.04 and a 1-year high of $160.95.

Quest Diagnostics (NYSE:DGX - Get Free Report) last released its earnings results on Tuesday, October 22nd. The medical research company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.04. Quest Diagnostics had a net margin of 8.82% and a return on equity of 15.25%. The business had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same period last year, the firm posted $2.22 earnings per share. The firm's quarterly revenue was up 8.5% compared to the same quarter last year. Research analysts predict that Quest Diagnostics Incorporated will post 8.9 earnings per share for the current year.

Quest Diagnostics Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Friday, October 4th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend was Friday, October 4th. Quest Diagnostics's dividend payout ratio (DPR) is currently 40.32%.

Insider Activity

In related news, CAO Michael J. Deppe sold 18,755 shares of the company's stock in a transaction on Wednesday, November 6th. The stock was 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 directly owns 34,941 shares of the company's stock, valued at approximately $5,382,661.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Quest Diagnostics news, SVP Karthik Kuppusamy sold 1,775 shares of Quest Diagnostics 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 completion of the sale, the senior vice president now owns 9,734 shares of the company's stock, valued at $1,527,459.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Michael J. Deppe sold 18,755 shares of the business's stock in a transaction on 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 in the company, valued at approximately $5,382,661.05. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,520 shares of company stock worth $3,472,728 over the last quarter. Corporate insiders own 0.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on DGX. Baird R W raised Quest Diagnostics from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 23rd. Evercore ISI started coverage on shares of Quest Diagnostics in a research report on Wednesday, August 28th. They set an "in-line" rating and a $165.00 price target on the stock. Mizuho increased their price objective on shares of Quest Diagnostics from $160.00 to $174.00 and gave the company an "outperform" rating in a report on Thursday, October 24th. Barclays raised their price objective on shares of Quest Diagnostics from $154.00 to $168.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 23rd. Finally, Piper Sandler upped their target price on Quest Diagnostics from $150.00 to $165.00 and gave the stock a "neutral" rating in a research report on Monday, October 28th. Nine analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $164.58.

About Quest Diagnostics

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.