Zurcher Kantonalbank Zurich Cantonalbank Lowers Position in Quest Diagnostics Incorporated (NYSE:DGX)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 49.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 74,005 shares of the medical research company’s stock after selling 73,036 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.07% of Quest Diagnostics worth $10,204,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. NBC Securities Inc. purchased a new position in shares of Quest Diagnostics during the third quarter valued at about $25,000. VisionPoint Advisory Group LLC raised its holdings in shares of Quest Diagnostics by 100.0% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 218 shares of the medical research company’s stock worth $27,000 after acquiring an additional 109 shares in the last quarter. Chilton Capital Management LLC purchased a new position in shares of Quest Diagnostics in the first quarter valued at $28,000. BKM Wealth Management LLC purchased a new position in shares of Quest Diagnostics in the 4th quarter worth $29,000. Finally, FinTrust Capital Advisors LLC increased its holdings in shares of Quest Diagnostics by 1,100.0% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 264 shares of the medical research company’s stock worth $32,000 after buying an additional 242 shares during the last quarter. 88.06% of the stock is currently owned by institutional investors.

Quest Diagnostics Stock Up 2.0 %

Shares of DGX stock opened at $128.44 on Friday. The stock’s fifty day moving average price is $128.32 and its 200 day moving average price is $130.77. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.31 and a quick ratio of 1.20. Quest Diagnostics Incorporated has a 1-year low of $119.59 and a 1-year high of $148.62. The company has a market cap of $14.26 billion, a price-to-earnings ratio of 17.15, a price-to-earnings-growth ratio of 2.74 and a beta of 0.91.

Quest Diagnostics (NYSE:DGX) last issued its 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 during the quarter, compared to analyst estimates of $2.25 billion. Quest Diagnostics had a return on equity of 15.79% and a net margin of 9.23%. The firm’s quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter last year, the business posted $1.98 EPS. On average, research analysts expect that Quest Diagnostics Incorporated will post 8.75 earnings per share 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. Investors of record on Monday, April 8th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend is Friday, April 5th. This is an increase from Quest Diagnostics’s previous quarterly dividend of $0.71. Quest Diagnostics’s dividend payout ratio is 37.92%.

Insiders Place Their Bets

In other news, SVP Michael E. Prevoznik sold 5,611 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $125.88, for a total value of $706,312.68. Following the sale, the senior vice president now directly owns 38,478 shares of the company’s stock, valued at approximately $4,843,610.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 5,611 shares of Quest Diagnostics stock in a transaction dated 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 in the company, valued at approximately $4,843,610.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Catherine T. Doherty sold 5,557 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $126.57, for a total value of $703,349.49. Following the completion of the transaction, the executive vice president now directly owns 69,599 shares of the company’s stock, valued at approximately $8,809,145.43. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,150 shares of company stock valued at $1,913,202. 0.79% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently commented on DGX shares. StockNews.com lowered Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Wednesday. TheStreet cut shares of Quest Diagnostics from a “b-” rating to a “c” rating in a research report on Monday, February 5th. Jefferies Financial Group raised Quest Diagnostics from a “hold” rating to a “buy” rating and raised their price target for the stock from $140.00 to $155.00 in a research note on Wednesday, February 7th. Barclays initiated coverage on Quest Diagnostics in a research note on Wednesday, January 3rd. They issued an “equal weight” rating and a $145.00 target price on the stock. Finally, Truist Financial restated a “hold” rating and issued a $145.00 price target on shares of Quest Diagnostics in a report on Wednesday, March 20th. Ten equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Quest Diagnostics has a consensus rating of “Hold” and a consensus price target of $144.18.

Quest Diagnostics 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.