Quest Diagnostics Incorporated (NYSE:DGX) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue cut its position in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 24.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,881 shares of the medical research company's stock after selling 6,235 shares during the quarter. State of Alaska Department of Revenue's holdings in Quest Diagnostics were worth $2,930,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Legacy Financial Advisors Inc. raised its position in shares of Quest Diagnostics by 1.6% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 4,697 shares of the medical research company's stock valued at $643,000 after purchasing an additional 72 shares in the last quarter. New England Capital Financial Advisors LLC raised its holdings in Quest Diagnostics by 24.7% in the first quarter. New England Capital Financial Advisors LLC now owns 389 shares of the medical research company's stock valued at $52,000 after acquiring an additional 77 shares in the last quarter. Meeder Advisory Services Inc. boosted its stake in Quest Diagnostics by 4.9% during the 2nd quarter. Meeder Advisory Services Inc. now owns 1,795 shares of the medical research company's stock valued at $246,000 after acquiring an additional 84 shares during the last quarter. Keudell Morrison Wealth Management grew its holdings in Quest Diagnostics by 3.8% during the 1st quarter. Keudell Morrison Wealth Management now owns 2,312 shares of the medical research company's stock worth $308,000 after acquiring an additional 85 shares in the last quarter. Finally, Arjuna Capital increased its position in shares of Quest Diagnostics by 5.2% in the 1st quarter. Arjuna Capital now owns 1,770 shares of the medical research company's stock worth $236,000 after purchasing an additional 88 shares during the last quarter. 88.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Quest Diagnostics

In other Quest Diagnostics news, SVP Karthik Kuppusamy sold 1,990 shares of the business's stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $153.26, for a total transaction of $304,987.40. Following the sale, the senior vice president now directly owns 11,459 shares in the company, valued at approximately $1,756,206.34. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.79% of the stock is currently owned by insiders.

Quest Diagnostics Stock Performance

NYSE DGX traded up $0.46 on Friday, hitting $155.29. The stock had a trading volume of 1,094,596 shares, compared to its average volume of 922,014. The company's 50-day moving average is $153.42 and its two-hundred day moving average is $145.44. The stock has a market cap of $17.33 billion, a price-to-earnings ratio of 21.01, a P/E/G ratio of 2.70 and a beta of 0.89. The company has a quick ratio of 1.17, a current ratio of 1.25 and a debt-to-equity ratio of 0.83. Quest Diagnostics Incorporated has a one year low of $123.04 and a one year high of $160.95.

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

Quest Diagnostics Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Friday, October 4th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.93%. The ex-dividend date was Friday, October 4th. Quest Diagnostics's payout ratio is currently 40.32%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Robert W. Baird upgraded Quest Diagnostics from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $157.00 to $182.00 in a research note on Wednesday, October 23rd. Mizuho lifted their target price on Quest Diagnostics from $160.00 to $174.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. Piper Sandler boosted their price target on Quest Diagnostics from $150.00 to $165.00 and gave the company a "neutral" rating in a report on Monday. Truist Financial raised their price objective on Quest Diagnostics from $158.00 to $165.00 and gave the stock a "hold" rating in a research note on Monday, October 7th. Finally, Baird R W upgraded shares of Quest Diagnostics from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 23rd. Eight research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $164.58.

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.