Russell Investments Group Ltd. Sells 4,276 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

Russell Investments Group Ltd. lowered its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 5.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 70,503 shares of the medical research company's stock after selling 4,276 shares during the period. Russell Investments Group Ltd. owned approximately 0.06% of Quest Diagnostics worth $10,637,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in DGX. Sierra Ocean LLC acquired a new position in Quest Diagnostics during the fourth quarter worth $33,000. Versant Capital Management Inc raised its holdings in shares of Quest Diagnostics by 340.4% in the 4th quarter. Versant Capital Management Inc now owns 251 shares of the medical research company's stock worth $38,000 after acquiring an additional 194 shares during the last quarter. First Financial Corp IN bought a new position in Quest Diagnostics in the 4th quarter valued at about $38,000. FPC Investment Advisory Inc. acquired a new position in Quest Diagnostics during the 4th quarter valued at about $45,000. Finally, Global Trust Asset Management LLC bought a new stake in Quest Diagnostics during the 4th quarter worth approximately $49,000. Institutional investors own 88.06% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on DGX shares. Piper Sandler reaffirmed a "neutral" rating and set a $180.00 target price (up previously from $165.00) on shares of Quest Diagnostics in a research report on Monday, February 3rd. UBS Group lifted their price objective on shares of Quest Diagnostics from $166.00 to $170.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Leerink Partnrs upgraded shares of Quest Diagnostics from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. Redburn Atlantic began coverage on shares of Quest Diagnostics in a report on Wednesday, April 2nd. They set a "buy" rating and a $195.00 price target on the stock. Finally, Redburn Partners set a $195.00 price objective on shares of Quest Diagnostics in a research note on Wednesday, April 2nd. Eight research 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, the stock has an average rating of "Moderate Buy" and a consensus target price of $181.33.

Quest Diagnostics Stock Performance

DGX traded up $0.43 on Thursday, hitting $164.90. The company's stock had a trading volume of 237,037 shares, compared to its average volume of 956,891. Quest Diagnostics Incorporated has a 12 month low of $125.42 and a 12 month high of $178.87. The firm has a market cap of $18.30 billion, a P/E ratio of 21.47, a price-to-earnings-growth ratio of 2.16 and a beta of 0.78. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.82. The company's 50 day simple moving average is $168.71 and its 200-day simple moving average is $160.13.

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 return on equity of 15.07% and a net margin of 8.80%. Analysts forecast 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 is a positive change from Quest Diagnostics's previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Monday, April 7th. Quest Diagnostics's dividend payout ratio (DPR) is 41.61%.

Insider Activity at Quest Diagnostics

In other Quest Diagnostics news, SVP Mark E. Delaney sold 403 shares of Quest Diagnostics stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $164.30, for a total transaction of $66,212.90. Following the completion of the sale, the senior vice president now directly owns 4,624 shares in the company, valued at $759,723.20. The trade was a 8.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO J. E. Davis sold 39,191 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $168.46, for a total transaction of $6,602,115.86. Following the completion of the transaction, the chief executive officer now directly owns 127,623 shares in the company, valued at $21,499,370.58. The trade was a 23.49 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,903 shares of company stock valued at $9,460,221. Corporate insiders own 0.79% of the company's stock.

About Quest Diagnostics

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.