Quest Diagnostics Incorporated (NYSE:DGX) Shares Sold by Twin Capital Management Inc.

Twin Capital Management Inc. reduced its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 57.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,827 shares of the medical research company’s stock after selling 6,559 shares during the period. Twin Capital Management Inc.’s holdings in Quest Diagnostics were worth $666,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Quest Diagnostics by 4.8% during the 1st quarter. Vanguard Group Inc. now owns 14,014,030 shares of the medical research company’s stock valued at $1,917,961,000 after buying an additional 636,301 shares in the last quarter. American Century Companies Inc. grew its stake in Quest Diagnostics by 12.3% during the 3rd quarter. American Century Companies Inc. now owns 3,554,517 shares of the medical research company’s stock valued at $433,153,000 after purchasing an additional 388,162 shares during the last quarter. Victory Capital Management Inc. grew its stake in Quest Diagnostics by 5.6% during the 3rd quarter. Victory Capital Management Inc. now owns 3,414,514 shares of the medical research company’s stock valued at $416,093,000 after purchasing an additional 180,889 shares during the last quarter. Wellington Management Group LLP grew its stake in Quest Diagnostics by 14.6% during the 3rd quarter. Wellington Management Group LLP now owns 2,613,793 shares of the medical research company’s stock valued at $318,517,000 after purchasing an additional 333,947 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Quest Diagnostics by 36.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,001,347 shares of the medical research company’s stock valued at $243,884,000 after purchasing an additional 538,377 shares during the last quarter. 88.06% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 661 shares of the 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 $83,378.54. Following the completion of the transaction, the senior vice president now owns 40,206 shares of the company’s stock, valued at $5,071,584.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 5,611 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $125.88, for a total transaction of $706,312.68. Following the completion of the transaction, the senior vice president now owns 38,478 shares of the company’s stock, valued at $4,843,610.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael E. Prevoznik sold 661 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $126.14, for a total value of $83,378.54. Following the transaction, the senior vice president now directly owns 40,206 shares of the company’s stock, valued at approximately $5,071,584.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,150 shares of company stock worth $1,913,202. 0.79% of the stock is owned by corporate insiders.

Quest Diagnostics Stock Performance

Shares of DGX stock opened at $128.44 on Friday. The company has a market capitalization of $14.26 billion, a P/E ratio of 17.15, a P/E/G ratio of 2.72 and a beta of 0.91. The business’s 50 day moving average is $128.32 and its two-hundred day moving average is $130.77. The company has a current ratio of 1.31, a quick ratio of 1.20 and a debt-to-equity ratio of 0.70. Quest Diagnostics Incorporated has a 12-month low of $119.59 and a 12-month high of $148.62.

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

Quest Diagnostics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 22nd. Shareholders of record on Monday, April 8th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, April 5th. This represents a $3.00 dividend on an annualized basis and a yield of 2.34%. This is an increase from Quest Diagnostics’s previous quarterly dividend of $0.71. Quest Diagnostics’s dividend payout ratio is currently 37.92%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on DGX. Leerink Partnrs reiterated a “market perform” rating on shares of Quest Diagnostics in a research note on Monday, February 26th. Barclays started coverage on Quest Diagnostics in a research note on Wednesday, January 3rd. They set an “equal weight” rating and a $145.00 price target on the stock. SVB Leerink started coverage on Quest Diagnostics in a research note on Monday, February 26th. They issued a “market perform” rating and a $135.00 target price on the stock. Truist Financial restated a “hold” rating and issued a $145.00 target price on shares of Quest Diagnostics in a research note on Wednesday, March 20th. Finally, StockNews.com downgraded Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Wednesday. Ten equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Quest Diagnostics has an average rating of “Hold” and an average price target of $144.18.

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.