Short Interest in Quest Diagnostics Incorporated (NYSE:DGX) Declines By 6.4%

Quest Diagnostics Incorporated (NYSE:DGX - Get Free Report) saw a significant decline in short interest during the month of December. As of December 15th, there was short interest totalling 1,910,000 shares, a decline of 6.4% from the November 30th total of 2,040,000 shares. Based on an average daily volume of 828,200 shares, the short-interest ratio is presently 2.3 days. Currently, 1.7% of the company's shares are sold short.

Insider Transactions at Quest Diagnostics

In other news, CAO Michael J. Deppe sold 18,755 shares of Quest Diagnostics stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $154.05, for a total transaction of $2,889,207.75. Following the transaction, the chief accounting officer now owns 34,941 shares in the company, valued at approximately $5,382,661.05. The trade was a 34.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Karthik Kuppusamy sold 1,775 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $156.92, for a total value of $278,533.00. Following the completion of the sale, the senior vice president now owns 9,734 shares of the company's stock, valued at $1,527,459.28. The trade was a 15.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.79% of the company's stock.

Hedge Funds Weigh In On Quest Diagnostics

Hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC grew its stake in shares of Quest Diagnostics by 3.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 6,045 shares of the medical research company's stock worth $827,000 after acquiring an additional 222 shares in the last quarter. Signaturefd LLC increased its stake in Quest Diagnostics by 17.6% in the 2nd quarter. Signaturefd LLC now owns 1,573 shares of the medical research company's stock valued at $215,000 after buying an additional 235 shares during the last quarter. Hantz Financial Services Inc. purchased a new stake in Quest Diagnostics in the 2nd quarter valued at about $60,000. Rothschild Investment LLC bought a new position in shares of Quest Diagnostics during the 2nd quarter worth approximately $26,000. Finally, Concurrent Investment Advisors LLC boosted its stake in shares of Quest Diagnostics by 4.8% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 2,064 shares of the medical research company's stock worth $283,000 after buying an additional 94 shares during the last quarter. Institutional investors and hedge funds own 88.06% of the company's stock.

Quest Diagnostics Stock Down 0.1 %

Shares of NYSE DGX traded down $0.11 during midday trading on Tuesday, hitting $150.86. 463,497 shares of the stock traded hands, compared to its average volume of 906,055. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.17 and a current ratio of 1.25. Quest Diagnostics has a one year low of $123.04 and a one year high of $165.32. The business has a 50 day moving average price of $157.36 and a two-hundred day moving average price of $151.46. The company has a market cap of $16.84 billion, a PE ratio of 20.28, a P/E/G ratio of 2.69 and a beta of 0.89.

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

Quest Diagnostics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Tuesday, January 14th will be given a $0.75 dividend. The ex-dividend date is Tuesday, January 14th. This represents a $3.00 annualized dividend and a yield of 1.99%. Quest Diagnostics's payout ratio is 40.32%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on DGX shares. Robert W. Baird raised shares of Quest Diagnostics from a "neutral" rating to an "outperform" rating and increased their target price for the company from $157.00 to $182.00 in a research report on Wednesday, October 23rd. Barclays increased their price objective on shares of Quest Diagnostics from $154.00 to $168.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 23rd. Truist Financial boosted their target price on shares of Quest Diagnostics from $158.00 to $165.00 and gave the company a "hold" rating in a report on Monday, October 7th. Mizuho increased their price target on Quest Diagnostics from $160.00 to $174.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. Finally, Piper Sandler boosted their price objective on Quest Diagnostics from $150.00 to $165.00 and gave the company a "neutral" rating in a research note on Monday, October 28th. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $169.15.

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.