Timothy M. Ring Sells 2,000 Shares of Quest Diagnostics Incorporated (NYSE:DGX) Stock

Quest Diagnostics Incorporated (NYSE:DGXGet Rating) Director Timothy M. Ring sold 2,000 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $136.04, for a total transaction of $272,080.00. Following the completion of the sale, the director now directly owns 23,933 shares of the company’s stock, valued at $3,255,845.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Quest Diagnostics Trading Up 0.9 %

Shares of DGX stock opened at $137.93 on Thursday. Quest Diagnostics Incorporated has a fifty-two week low of $125.33 and a fifty-two week high of $174.16. The stock has a market capitalization of $16.08 billion, a P/E ratio of 11.48 and a beta of 1.00. The company has a quick ratio of 1.42, a current ratio of 1.54 and a debt-to-equity ratio of 0.62. The stock has a 50-day simple moving average of $135.28 and a 200 day simple moving average of $136.21.

Quest Diagnostics (NYSE:DGXGet Rating) last posted its quarterly earnings results on Thursday, July 21st. The medical research company reported $2.36 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.10. The company had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.34 billion. Quest Diagnostics had a return on equity of 24.62% and a net margin of 14.02%. The business’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period last year, the business earned $3.18 EPS. On average, sell-side analysts expect that Quest Diagnostics Incorporated will post 9.69 earnings per share for the current fiscal year.

Quest Diagnostics Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 20th. Shareholders of record on Wednesday, July 6th were given a $0.66 dividend. The ex-dividend date was Tuesday, July 5th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.91%. Quest Diagnostics’s dividend payout ratio is currently 21.96%.

Analyst Ratings Changes

DGX has been the subject of several research analyst reports. Wells Fargo & Company raised their target price on shares of Quest Diagnostics from $145.00 to $150.00 and gave the company an “equal weight” rating in a research note on Monday, April 25th. Mizuho lowered their target price on shares of Quest Diagnostics from $185.00 to $160.00 and set a “maintains” rating for the company in a report on Friday, July 22nd. Credit Suisse Group decreased their price objective on shares of Quest Diagnostics from $158.00 to $143.00 and set a “maintains” rating for the company in a report on Friday, July 22nd. StockNews.com upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a report on Thursday, July 7th. Finally, Bank of America cut their price objective on shares of Quest Diagnostics from $166.00 to $163.00 and set a “buy” rating on the stock in a research report on Friday, April 22nd. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $149.25.

Hedge Funds Weigh In On Quest Diagnostics

Several hedge funds and other institutional investors have recently modified their holdings of DGX. Envestnet Asset Management Inc. increased its stake in shares of Quest Diagnostics by 22.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 234,639 shares of the medical research company’s stock valued at $31,202,000 after buying an additional 42,550 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Quest Diagnostics by 95.6% during the second quarter. Nisa Investment Advisors LLC now owns 30,155 shares of the medical research company’s stock worth $4,010,000 after acquiring an additional 14,739 shares in the last quarter. AE Wealth Management LLC lifted its holdings in Quest Diagnostics by 29.6% during the second quarter. AE Wealth Management LLC now owns 2,252 shares of the medical research company’s stock worth $299,000 after acquiring an additional 515 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in Quest Diagnostics by 2.9% during the second quarter. Janney Montgomery Scott LLC now owns 22,841 shares of the medical research company’s stock worth $3,117,000 after acquiring an additional 649 shares in the last quarter. Finally, Estate Counselors LLC bought a new position in Quest Diagnostics during the second quarter worth about $1,284,000. Institutional investors own 89.89% of the company’s stock.

About Quest Diagnostics

(Get Rating)

Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic information services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.

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