J. E. Davis Sells 39,191 Shares of Quest Diagnostics Incorporated (NYSE:DGX) Stock

Quest Diagnostics Incorporated (NYSE:DGX - Get Free Report) CEO J. E. Davis sold 39,191 shares of Quest Diagnostics stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $168.46, for a total value 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Quest Diagnostics Stock Up 1.5 %

DGX stock traded up $2.43 during midday trading on Wednesday, reaching $162.23. 733,188 shares of the company were exchanged, compared to its average volume of 934,641. The company has a market cap of $18.00 billion, a price-to-earnings ratio of 21.11, a price-to-earnings-growth ratio of 2.16 and a beta of 0.78. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.02 and a current ratio of 1.10. Quest Diagnostics Incorporated has a 1-year low of $125.42 and a 1-year high of $178.87. The stock's 50-day simple moving average is $168.45 and its 200 day simple moving average is $159.67.

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 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, equities 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 disclosed a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.20 dividend on an annualized basis and a yield of 1.97%. This is a boost from Quest Diagnostics's previous quarterly dividend of $0.75. Quest Diagnostics's payout ratio is currently 41.61%.

Hedge Funds Weigh In On Quest Diagnostics

A number of hedge funds have recently modified their holdings of DGX. Price T Rowe Associates Inc. MD boosted its stake in Quest Diagnostics by 42.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,490,278 shares of the medical research company's stock worth $828,265,000 after purchasing an additional 1,637,525 shares during the period. State Street Corp grew its holdings in shares of Quest Diagnostics by 1.4% during the third quarter. State Street Corp now owns 5,263,231 shares of the medical research company's stock worth $817,117,000 after buying an additional 70,578 shares during the last quarter. Geode Capital Management LLC increased its position in Quest Diagnostics by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 2,690,021 shares of the medical research company's stock valued at $404,764,000 after acquiring an additional 73,368 shares during the period. JPMorgan Chase & Co. lifted its position in Quest Diagnostics by 60.4% during the 4th quarter. JPMorgan Chase & Co. now owns 2,433,913 shares of the medical research company's stock worth $367,180,000 after acquiring an additional 916,898 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC grew its stake in shares of Quest Diagnostics by 1.2% in the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,268,990 shares of the medical research company's stock valued at $342,300,000 after purchasing an additional 26,214 shares during the last quarter. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on DGX shares. Robert W. Baird upped their price objective on Quest Diagnostics from $190.00 to $191.00 and gave the stock an "outperform" rating in a research note on Thursday, March 20th. Redburn Partners set a $195.00 price target on Quest Diagnostics in a report on Wednesday, April 2nd. Bank of America lifted their price target 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. Mizuho boosted their price objective on shares of Quest Diagnostics from $178.00 to $189.00 and gave the company an "outperform" rating in a report on Wednesday. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $185.00 price objective (up previously from $175.00) on shares of Quest Diagnostics in a research note on Tuesday, December 10th. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average 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.