Versor Investments LP trimmed its position in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 30.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,400 shares of the medical research company's stock after selling 1,897 shares during the period. Versor Investments LP's holdings in Quest Diagnostics were worth $664,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its position in Quest Diagnostics by 1.4% in the third quarter. State Street Corp now owns 5,263,231 shares of the medical research company's stock worth $817,117,000 after purchasing an additional 70,578 shares during the period. Geode Capital Management LLC lifted its position in Quest Diagnostics by 1.5% in the third quarter. Geode Capital Management LLC now owns 2,616,653 shares of the medical research company's stock worth $404,838,000 after purchasing an additional 39,217 shares during the period. Bank of New York Mellon Corp lifted its position in Quest Diagnostics by 14.8% in the fourth quarter. Bank of New York Mellon Corp now owns 881,764 shares of the medical research company's stock worth $133,023,000 after purchasing an additional 113,956 shares during the period. BNP Paribas Financial Markets lifted its position in Quest Diagnostics by 25.4% in the third quarter. BNP Paribas Financial Markets now owns 747,298 shares of the medical research company's stock worth $116,018,000 after purchasing an additional 151,365 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Quest Diagnostics by 1.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 708,100 shares of the medical research company's stock worth $109,933,000 after purchasing an additional 12,565 shares during the period. 88.06% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, SVP Mark E. Delaney sold 403 shares of the stock in a transaction on Wednesday, February 5th. The stock was 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 approximately $759,723.20. This trade represents a 8.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Catherine T. Doherty sold 535 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $169.71, for a total value of $90,794.85. Following the sale, the executive vice president now owns 71,356 shares of the company's stock, valued at approximately $12,109,826.76. This represents a 0.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,144 shares of company stock worth $699,367. Corporate insiders own 0.79% of the company's stock.
Quest Diagnostics Stock Up 2.3 %
Shares of DGX traded up $3.91 during mid-day trading on Monday, reaching $176.81. The company's stock had a trading volume of 1,325,853 shares, compared to its average volume of 1,062,904. The business has a fifty day moving average of $160.11 and a 200 day moving average of $157.02. The company has a market cap of $19.62 billion, a price-to-earnings ratio of 22.99, a price-to-earnings-growth ratio of 2.16 and a beta of 0.91. Quest Diagnostics Incorporated has a 1 year low of $123.88 and a 1 year high of $178.09. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.82.
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 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%. As a group, analysts forecast that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal year.
Quest Diagnostics Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.81%. This is a positive change from Quest Diagnostics's previous quarterly dividend of $0.75. The ex-dividend date is Monday, April 7th. Quest Diagnostics's dividend payout ratio (DPR) is currently 41.61%.
Analyst Ratings Changes
A number of research firms have weighed in on DGX. UBS Group upped their target price on Quest Diagnostics from $166.00 to $170.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Robert W. Baird set a $189.00 price objective on Quest Diagnostics in a research report on Friday, January 31st. Truist Financial increased their price objective on Quest Diagnostics from $172.00 to $182.00 and gave the company a "hold" rating in a research report on Friday, January 31st. Jefferies Financial Group reiterated a "buy" rating and set a $185.00 price objective (up previously from $175.00) on shares of Quest Diagnostics in a research report on Tuesday, December 10th. Finally, Mizuho increased their price objective on Quest Diagnostics from $177.00 to $178.00 and gave the company an "outperform" rating in a research report on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $178.23.
Read Our Latest Stock Analysis on DGX
About Quest Diagnostics
(
Free Report)
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.
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