Aviva PLC Cuts Stake in Quest Diagnostics Incorporated (NYSE:DGX)

Aviva PLC cut its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 66.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 71,150 shares of the medical research company's stock after selling 140,165 shares during the period. Aviva PLC owned approximately 0.06% of Quest Diagnostics worth $10,734,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sanctuary Advisors LLC lifted its stake in Quest Diagnostics by 85.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 17,969 shares of the medical research company's stock valued at $2,940,000 after acquiring an additional 8,282 shares in the last quarter. BankPlus Wealth Management LLC bought a new position in shares of Quest Diagnostics during the fourth quarter valued at about $355,000. Van ECK Associates Corp boosted its holdings in Quest Diagnostics by 980.3% during the fourth quarter. Van ECK Associates Corp now owns 24,198 shares of the medical research company's stock worth $3,650,000 after purchasing an additional 21,958 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in Quest Diagnostics in the 4th quarter worth about $54,000. Finally, Clean Yield Group increased its stake in Quest Diagnostics by 17.7% in the 4th quarter. Clean Yield Group now owns 26,428 shares of the medical research company's stock valued at $3,987,000 after buying an additional 3,983 shares during the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Quest Diagnostics

In related news, CEO J. E. Davis sold 39,191 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $168.46, for a total value of $6,602,115.86. Following the sale, the chief executive officer now directly owns 127,623 shares of the company's stock, valued at $21,499,370.58. This trade represents a 23.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Mark E. Delaney sold 403 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $164.30, for a total transaction of $66,212.90. Following the completion of the transaction, the senior vice president now directly owns 4,624 shares of the company's stock, valued at approximately $759,723.20. This represents a 8.02 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,903 shares of company stock valued at $9,460,221. 0.79% of the stock is currently owned by company insiders.

Quest Diagnostics Stock Performance

Shares of NYSE DGX traded up $2.59 during mid-day trading on Monday, hitting $166.58. The company had a trading volume of 125,842 shares, compared to its average volume of 949,474. Quest Diagnostics Incorporated has a 1 year low of $125.42 and a 1 year high of $178.87. The stock's 50-day moving average price is $168.51 and its 200-day moving average price is $159.96. The company has a current ratio of 1.10, a quick ratio of 1.02 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $18.49 billion, a price-to-earnings ratio of 21.66, a P/E/G ratio of 2.16 and a beta of 0.78.

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

Quest Diagnostics Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be given a dividend of $0.80 per share. This is a positive change 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 payout ratio is 41.61%.

Analysts Set New Price Targets

Several research firms have recently issued reports on DGX. Citigroup lowered Quest Diagnostics from a "buy" rating to a "neutral" rating and set a $185.00 target price for the company. in a report on Tuesday, March 4th. Mizuho lifted their target price on Quest Diagnostics from $178.00 to $189.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Leerink Partnrs raised shares of Quest Diagnostics from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. Redburn Partners set a $195.00 price objective on shares of Quest Diagnostics in a report on Wednesday, April 2nd. Finally, Piper Sandler reissued a "neutral" rating and set a $180.00 target price (up from $165.00) on shares of Quest Diagnostics in a research report on Monday, February 3rd. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $181.33.

Quest Diagnostics 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.