Quest Diagnostics Incorporated (NYSE:DGX) Stock Position Cut by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S trimmed its stake in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 33.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,359 shares of the medical research company's stock after selling 2,712 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Quest Diagnostics were worth $808,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sierra Ocean LLC purchased a new stake in shares of Quest Diagnostics during the 4th quarter valued at $33,000. First Financial Corp IN purchased a new stake in Quest Diagnostics during the fourth quarter valued at about $38,000. Versant Capital Management Inc increased its stake in 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 acquiring an additional 194 shares during the last quarter. FPC Investment Advisory Inc. purchased a new position in shares of Quest Diagnostics in the 4th quarter worth about $45,000. Finally, Global Trust Asset Management LLC purchased a new position in shares of Quest Diagnostics in the 4th quarter worth about $49,000. Institutional investors and hedge funds own 88.06% of the company's stock.

Quest Diagnostics Stock Down 1.2 %

Quest Diagnostics stock traded down $2.12 during midday trading on Friday, hitting $173.75. The stock had a trading volume of 1,033,426 shares, compared to its average volume of 965,328. The business has a fifty day moving average price of $168.96 and a 200 day moving average price of $160.98. Quest Diagnostics Incorporated has a 12 month low of $134.50 and a 12 month high of $178.87. The stock has a market cap of $19.39 billion, a P/E ratio of 22.59, a P/E/G ratio of 2.16 and a beta of 0.78. The company has a current ratio of 1.10, a quick ratio of 1.02 and a debt-to-equity ratio of 0.82.

Quest Diagnostics (NYSE:DGX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The medical research company reported $2.21 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.06. Quest Diagnostics had a return on equity of 15.07% and a net margin of 8.80%. The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.63 billion. Research analysts predict that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 7th were paid a dividend of $0.80 per share. This is a positive change from Quest Diagnostics's previous quarterly dividend of $0.75. The ex-dividend date was Monday, April 7th. This represents a $3.20 annualized dividend and a yield of 1.84%. Quest Diagnostics's dividend payout ratio is 40.46%.

Insiders Place Their Bets

In related news, SVP Mark E. Delaney sold 403 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $164.30, for a total value of $66,212.90. Following the sale, the senior vice president now owns 4,624 shares of the company's stock, valued at $759,723.20. This trade represents a 8.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO J. E. Davis sold 39,191 shares of Quest Diagnostics stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $168.46, for a total transaction of $6,602,115.86. Following the completion of the sale, the chief executive officer now owns 127,623 shares in the company, valued at approximately $21,499,370.58. This represents a 23.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,903 shares of company stock valued at $9,460,221 over the last quarter. Insiders own 8.16% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on DGX. Robert W. Baird increased their target price on shares of Quest Diagnostics from $191.00 to $194.00 and gave the stock an "outperform" rating in a research report on Wednesday. Evercore ISI increased their price objective on shares of Quest Diagnostics from $175.00 to $180.00 and gave the stock an "in-line" rating in a research report on Wednesday. JPMorgan Chase & Co. lifted their target price on shares of Quest Diagnostics from $173.00 to $180.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. Redburn Partners set a $195.00 price target on Quest Diagnostics in a report on Wednesday, April 2nd. Finally, Piper Sandler restated a "neutral" rating and set a $180.00 price objective (up previously from $165.00) on shares of Quest Diagnostics in a research note on Monday, February 3rd. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $183.73.

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.