Quest Diagnostics Incorporated (NYSE:DGX) SVP Karthik Kuppusamy Sells 2,555 Shares

Quest Diagnostics Incorporated (NYSE:DGX - Get Free Report) SVP Karthik Kuppusamy sold 2,555 shares of Quest Diagnostics stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $170.00, for a total value of $434,350.00. Following the transaction, the senior vice president now owns 10,575 shares of the company's stock, valued at approximately $1,797,750. This represents a 19.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Quest Diagnostics Trading Up 1.5 %

Quest Diagnostics stock traded up $2.43 during trading on Wednesday, reaching $162.23. 733,188 shares of the company were exchanged, compared to its average volume of 934,641. The stock's 50 day simple moving average is $168.45 and its two-hundred day simple moving average is $159.67. The company has a market capitalization of $18.00 billion, a P/E ratio of 21.11, a PEG ratio of 2.16 and a beta of 0.78. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.10 and a quick ratio of 1.02. Quest Diagnostics Incorporated has a 52-week low of $125.42 and a 52-week high of $178.87.

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 for the quarter, beating the consensus estimate 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, equities research analysts expect that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal 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 issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.97%. This is an increase from Quest Diagnostics's previous quarterly dividend of $0.75. Quest Diagnostics's dividend payout ratio (DPR) is currently 41.61%.

Institutional Trading of Quest Diagnostics

Institutional investors have recently made changes to their positions in the company. Sierra Ocean LLC acquired a new stake in Quest Diagnostics during the fourth quarter worth $33,000. Versant Capital Management Inc increased its position in shares of Quest Diagnostics by 340.4% during the 4th 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 last quarter. First Financial Corp IN purchased a new stake in Quest Diagnostics in the 4th quarter valued at about $38,000. FPC Investment Advisory Inc. acquired a new position in Quest Diagnostics in the fourth quarter valued at about $45,000. Finally, Global Trust Asset Management LLC purchased a new position in Quest Diagnostics during the fourth quarter worth about $49,000. Hedge funds and other institutional investors own 88.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Piper Sandler reiterated a "neutral" rating and issued a $180.00 price objective (up previously from $165.00) on shares of Quest Diagnostics in a research report on Monday, February 3rd. Leerink Partnrs upgraded Quest Diagnostics from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. Redburn Atlantic initiated coverage on Quest Diagnostics in a research report on Wednesday, April 2nd. They issued a "buy" rating and a $195.00 price objective for the company. Truist Financial increased their target price on Quest Diagnostics from $172.00 to $182.00 and gave the company a "hold" rating in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. boosted their price target on shares of Quest Diagnostics from $173.00 to $180.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Quest Diagnostics currently has a consensus rating of "Moderate Buy" and an average target price of $181.33.

Quest Diagnostics Company 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.