Nisa Investment Advisors LLC Decreases Stock Position in Quest Diagnostics Incorporated (NYSE:DGX)

Nisa Investment Advisors LLC cut its position in Quest Diagnostics Incorporated (NYSE:DGX) by 15.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,875 shares of the medical research company’s stock after selling 1,949 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Quest Diagnostics were worth $1,499,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Stratos Wealth Partners LTD. boosted its stake in shares of Quest Diagnostics by 47.4% in the fourth quarter. Stratos Wealth Partners LTD. now owns 2,481 shares of the medical research company’s stock valued at $342,000 after purchasing an additional 798 shares during the period. Alpine Woods Capital Investors LLC boosted its stake in shares of Quest Diagnostics by 2.1% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 30,442 shares of the medical research company’s stock valued at $4,197,000 after purchasing an additional 633 shares during the period. Clean Yield Group raised its holdings in Quest Diagnostics by 3.1% in the fourth quarter. Clean Yield Group now owns 15,801 shares of the medical research company’s stock valued at $2,179,000 after acquiring an additional 475 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Quest Diagnostics by 207.2% in the fourth quarter. International Assets Investment Management LLC now owns 77,994 shares of the medical research company’s stock valued at $10,754,000 after acquiring an additional 52,609 shares in the last quarter. Finally, Private Trust Co. NA raised its holdings in Quest Diagnostics by 198.2% in the fourth quarter. Private Trust Co. NA now owns 1,139 shares of the medical research company’s stock valued at $157,000 after acquiring an additional 757 shares in the last quarter. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

Quest Diagnostics Trading Down 1.1 %

Shares of NYSE:DGX opened at $128.53 on Monday. The company has a market cap of $14.27 billion, a PE ratio of 17.16, a P/E/G ratio of 2.77 and a beta of 0.91. The company’s 50-day moving average price is $128.19 and its 200 day moving average price is $130.70. Quest Diagnostics Incorporated has a fifty-two week low of $119.59 and a fifty-two week high of $148.62. The company has a quick ratio of 1.20, a current ratio of 1.31 and a debt-to-equity ratio of 0.70.

Quest Diagnostics (NYSE:DGX) last released its earnings results on Thursday, February 1st. The medical research company reported $2.15 EPS for the quarter, beating the consensus estimate of $2.11 by $0.04. The firm had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.25 billion. Quest Diagnostics had a net margin of 9.23% and a return on equity of 15.79%. Quest Diagnostics’s quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter last year, the company earned $1.98 EPS. Sell-side analysts anticipate that Quest Diagnostics Incorporated will post 8.75 earnings per share for the current year.

Quest Diagnostics Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 22nd. Stockholders of record on Monday, April 8th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Friday, April 5th. This represents a $3.00 annualized dividend and a dividend yield of 2.33%. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.71. Quest Diagnostics’s payout ratio is currently 37.92%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. TheStreet cut shares of Quest Diagnostics from a “b-” rating to a “c” rating in a report on Monday, February 5th. Truist Financial reaffirmed a “hold” rating and issued a $145.00 price target on shares of Quest Diagnostics in a report on Wednesday, March 20th. Barclays assumed coverage on shares of Quest Diagnostics in a report on Wednesday, January 3rd. They issued an “equal weight” rating and a $145.00 price target on the stock. SVB Leerink initiated coverage on shares of Quest Diagnostics in a report on Monday, February 26th. They issued a “market perform” rating and a $135.00 price target on the stock. Finally, Leerink Partnrs reissued a “market perform” rating on shares of Quest Diagnostics in a report on Monday, February 26th. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $144.18.

Insider Transactions at Quest Diagnostics

In other news, Director Vicky B. Gregg sold 2,500 shares of Quest Diagnostics stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $126.64, for a total value of $316,600.00. Following the transaction, the director now owns 16,329 shares of the company’s stock, valued at approximately $2,067,904.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Vicky B. Gregg sold 2,500 shares of Quest Diagnostics stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $126.64, for a total value of $316,600.00. Following the transaction, the director now owns 16,329 shares of the company’s stock, valued at approximately $2,067,904.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Catherine T. Doherty sold 821 shares of Quest Diagnostics stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $126.14, for a total transaction of $103,560.94. Following the completion of the transaction, the executive vice president now directly owns 70,800 shares in the company, valued at $8,930,712. The disclosure for this sale can be found here. Insiders have sold 15,150 shares of company stock valued at $1,913,202 in the last quarter. Insiders own 1.70% of the company’s stock.

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.