Treasurer of the State of North Carolina Sells 6,095 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

Treasurer of the State of North Carolina cut its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 7.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 76,235 shares of the medical research company's stock after selling 6,095 shares during the quarter. Treasurer of the State of North Carolina owned 0.07% of Quest Diagnostics worth $11,501,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Meiji Yasuda Asset Management Co Ltd. grew its position in shares of Quest Diagnostics by 1.6% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,843 shares of the medical research company's stock worth $580,000 after buying an additional 60 shares during the last quarter. Net Worth Advisory Group increased its position in Quest Diagnostics by 1.0% during the 4th quarter. Net Worth Advisory Group now owns 6,495 shares of the medical research company's stock valued at $980,000 after purchasing an additional 62 shares during the period. Bessemer Group Inc. lifted its position in shares of Quest Diagnostics by 0.3% in the 4th quarter. Bessemer Group Inc. now owns 20,811 shares of the medical research company's stock worth $3,140,000 after purchasing an additional 65 shares during the period. Brooklyn Investment Group boosted its stake in shares of Quest Diagnostics by 5.5% during the 4th quarter. Brooklyn Investment Group now owns 1,315 shares of the medical research company's stock valued at $198,000 after purchasing an additional 68 shares in the last quarter. Finally, Mather Group LLC. raised its stake in Quest Diagnostics by 10.4% in the fourth quarter. Mather Group LLC. now owns 764 shares of the medical research company's stock worth $115,000 after buying an additional 72 shares in the last quarter. 88.06% of the stock is currently owned by institutional investors.

Quest Diagnostics Stock Performance

NYSE:DGX traded down $0.72 on Friday, hitting $163.75. The stock had a trading volume of 1,490,919 shares, compared to its average volume of 962,084. Quest Diagnostics Incorporated has a 52-week low of $125.42 and a 52-week high of $178.87. The stock has a market cap of $18.17 billion, a price-to-earnings ratio of 21.29, 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 business's 50-day simple moving average is $168.68 and its two-hundred day simple moving average is $160.19.

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

Quest Diagnostics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be paid a dividend of $0.80 per share. This is a boost from Quest Diagnostics's previous quarterly dividend of $0.75. The ex-dividend date is Monday, April 7th. This represents a $3.20 dividend on an annualized basis and a yield of 1.95%. Quest Diagnostics's dividend payout ratio (DPR) is presently 41.61%.

Insider Buying and Selling at Quest Diagnostics

In other news, CEO J. E. Davis sold 39,191 shares of the business's stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Mark E. Delaney sold 403 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $164.30, for a total value of $66,212.90. Following the sale, the senior vice president now owns 4,624 shares of the company's stock, valued at $759,723.20. This represents a 8.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,903 shares of company stock valued at $9,460,221 over the last 90 days. 0.79% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

DGX has been the subject of several research reports. Mizuho increased their target price on Quest Diagnostics from $178.00 to $189.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 9th. Robert W. Baird upped their target price on shares of Quest Diagnostics from $190.00 to $191.00 and gave the stock an "outperform" rating in a research report on Thursday, March 20th. Piper Sandler reissued a "neutral" rating and set a $180.00 price target (up from $165.00) on shares of Quest Diagnostics in a research report on Monday, February 3rd. 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. Finally, Redburn Partners set a $195.00 price target on Quest Diagnostics in a research note on Wednesday, April 2nd. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target 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.