Cambiar Investors LLC Sells 9,196 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

Cambiar Investors LLC decreased its position in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 10.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 79,383 shares of the medical research company's stock after selling 9,196 shares during the quarter. Cambiar Investors LLC owned 0.07% of Quest Diagnostics worth $11,976,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of DGX. Versant Capital Management Inc lifted its position 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 purchasing an additional 194 shares during the period. First Financial Corp IN bought a new position in shares of Quest Diagnostics in the fourth quarter worth about $38,000. Global Trust Asset Management LLC bought a new position in shares of Quest Diagnostics in the fourth quarter worth about $49,000. Sentry Investment Management LLC bought a new position in shares of Quest Diagnostics in the third quarter worth about $82,000. Finally, Board of the Pension Protection Fund bought a new position in shares of Quest Diagnostics in the fourth quarter worth about $91,000. Institutional investors own 88.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on DGX shares. Morgan Stanley raised shares of Quest Diagnostics from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $145.00 to $172.00 in a report on Tuesday, December 17th. Bank of America increased their target price on shares of Quest Diagnostics from $179.00 to $182.00 and gave the stock a "buy" rating in a report on Friday, December 13th. StockNews.com cut shares of Quest Diagnostics from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Robert W. Baird raised shares of Quest Diagnostics from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $157.00 to $182.00 in a report on Wednesday, October 23rd. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $180.00 price objective (up previously from $165.00) on shares of Quest Diagnostics in a research note on Monday, February 3rd. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Quest Diagnostics currently has a consensus rating of "Moderate Buy" and an average price target of $177.69.

Insider Buying and Selling at Quest Diagnostics

In other news, Director Vicky B. Gregg sold 1,250 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $164.57, for a total transaction of $205,712.50. Following the completion of the sale, the director now owns 16,867 shares of the company's stock, valued at $2,775,802.19. This trade represents a 6.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Mark E. Delaney sold 403 shares of the firm'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 sale, the senior vice president now directly owns 4,624 shares of the company's stock, valued at approximately $759,723.20. This trade represents a 8.02 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.79% of the company's stock.

Quest Diagnostics Trading Up 0.1 %

NYSE:DGX traded up $0.25 on Friday, reaching $168.97. 1,327,130 shares of the stock traded hands, compared to its average volume of 1,028,481. The firm has a market capitalization of $18.86 billion, a price-to-earnings ratio of 21.97, a price-to-earnings-growth ratio of 2.04 and a beta of 0.91. The company's 50 day moving average is $155.90 and its 200-day moving average is $154.80. 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 Incorporated has a 1-year low of $123.30 and a 1-year high of $171.30.

Quest Diagnostics (NYSE:DGX - Get Free Report) last released its earnings results on Thursday, January 30th. The medical research company reported $2.23 earnings per share for the quarter, beating 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%. Equities research analysts anticipate that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Monday, April 7th. This is an increase from Quest Diagnostics's previous quarterly dividend of $0.75. Quest Diagnostics's dividend payout ratio is currently 39.01%.

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.