Quest Diagnostics (NYSE:DGX) Shares Gap Down Following Insider Selling

Quest Diagnostics Incorporated (NYSE:DGX - Get Free Report) gapped down before the market opened on Wednesday following insider selling activity. The stock had previously closed at $172.45, but opened at $168.73. Quest Diagnostics shares last traded at $165.14, with a volume of 121,622 shares changing hands.

Specifically, SVP Michael E. Prevoznik sold 4,643 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $170.00, for a total value of $789,310.00. Following the transaction, the senior vice president now owns 38,117 shares of the company's stock, valued at approximately $6,479,890. This represents a 10.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on DGX shares. Barclays upped their price target on Quest Diagnostics from $168.00 to $175.00 and gave the company an "equal weight" rating in a research note on Friday, January 31st. Citigroup downgraded shares of Quest Diagnostics from a "buy" rating to a "neutral" rating and set a $185.00 target price for the company. in a research note on Tuesday, March 4th. JPMorgan Chase & Co. lifted their price target on shares of Quest Diagnostics from $173.00 to $180.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. Robert W. Baird upped their price objective on shares of Quest Diagnostics from $190.00 to $191.00 and gave the company an "outperform" rating in a research report on Thursday. Finally, Leerink Partnrs raised Quest Diagnostics from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. Eight analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $178.38.

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Quest Diagnostics Trading Up 0.3 %

The firm has a market cap of $18.53 billion, a price-to-earnings ratio of 21.71, a P/E/G ratio of 2.16 and a beta of 0.92. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.10 and a quick ratio of 1.02. The business has a 50-day moving average of $165.18 and a 200-day moving average of $158.64.

Quest Diagnostics (NYSE:DGX - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The medical research company reported $2.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.19 by $0.04. Quest Diagnostics had a return on equity of 15.07% and a net margin of 8.80%. Research analysts anticipate that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.92%. 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 (DPR) is 41.61%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of DGX. Sanctuary Advisors LLC grew its holdings in Quest Diagnostics by 85.5% during the third quarter. Sanctuary Advisors LLC now owns 17,969 shares of the medical research company's stock worth $2,940,000 after purchasing an additional 8,282 shares during the period. BankPlus Wealth Management LLC bought a new stake in Quest Diagnostics in the fourth quarter valued at approximately $355,000. Van ECK Associates Corp lifted its position in shares of Quest Diagnostics by 980.3% in the fourth quarter. Van ECK Associates Corp now owns 24,198 shares of the medical research company's stock valued at $3,650,000 after buying an additional 21,958 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Quest Diagnostics during the 4th quarter worth approximately $54,000. Finally, Clean Yield Group increased its holdings in shares of Quest Diagnostics by 17.7% during the 4th quarter. Clean Yield Group now owns 26,428 shares of the medical research company's stock worth $3,987,000 after acquiring an additional 3,983 shares during the last quarter. 88.06% of the stock is currently owned by institutional investors and hedge funds.

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.