Quest Diagnostics Incorporated (NYSE:DGX) Shares Sold by Xponance Inc.

Xponance Inc. cut its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 9.7% in the fourth quarter, HoldingsChannel reports. The firm owned 14,957 shares of the medical research company’s stock after selling 1,615 shares during the period. Xponance Inc.’s holdings in Quest Diagnostics were worth $2,062,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue increased its holdings in Quest Diagnostics by 4.6% in the third quarter. State of Alaska Department of Revenue now owns 28,431 shares of the medical research company’s stock valued at $3,464,000 after buying an additional 1,250 shares in the last quarter. Naples Global Advisors LLC increased its holdings in Quest Diagnostics by 14.1% in the third quarter. Naples Global Advisors LLC now owns 6,081 shares of the medical research company’s stock valued at $741,000 after buying an additional 751 shares in the last quarter. Everence Capital Management Inc. purchased a new position in Quest Diagnostics in the third quarter valued at $386,000. Ziegler Capital Management LLC increased its holdings in Quest Diagnostics by 17.2% in the third quarter. Ziegler Capital Management LLC now owns 15,067 shares of the medical research company’s stock valued at $1,836,000 after buying an additional 2,211 shares in the last quarter. Finally, Montecito Bank & Trust increased its holdings in Quest Diagnostics by 14.1% in the third quarter. Montecito Bank & Trust now owns 1,824 shares of the medical research company’s stock valued at $222,000 after buying an additional 225 shares in the last quarter. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Quest Diagnostics Stock Up 1.3 %

Shares of NYSE DGX opened at $130.09 on Tuesday. Quest Diagnostics Incorporated has a 12-month low of $119.59 and a 12-month high of $148.62. The stock has a market cap of $14.45 billion, a PE ratio of 17.37, a P/E/G ratio of 2.77 and a beta of 0.91. The company has a current ratio of 1.31, a quick ratio of 1.20 and a debt-to-equity ratio of 0.70. The company has a 50-day moving average of $128.32 and a 200 day moving average of $130.95.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings data on Thursday, February 1st. The medical research company reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.04. The company had revenue of $2.29 billion during 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 revenue was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.98 EPS. As a group, sell-side analysts predict that Quest Diagnostics Incorporated will post 8.75 EPS for the current fiscal year.

Quest Diagnostics Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 8th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.31%. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.71. The ex-dividend date was Friday, April 5th. Quest Diagnostics’s payout ratio is presently 37.92%.

Insider Buying and Selling at Quest Diagnostics

In other Quest Diagnostics news, Director Vicky B. Gregg sold 2,500 shares of the business’s stock in a transaction dated 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 directly owns 16,329 shares in the company, valued at approximately $2,067,904.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Quest Diagnostics news, EVP Catherine T. Doherty sold 821 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $126.14, for a total value of $103,560.94. Following the transaction, the executive vice president now directly owns 70,800 shares in the company, valued at approximately $8,930,712. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Vicky B. Gregg sold 2,500 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $126.64, for a total transaction of $316,600.00. Following the completion of the transaction, the director now owns 16,329 shares in the company, valued at $2,067,904.56. The disclosure for this sale can be found here. Insiders have sold 15,150 shares of company stock worth $1,913,202 in the last ninety days. 0.79% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Jefferies Financial Group raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating and lifted their price objective for the company from $140.00 to $155.00 in a report on Wednesday, February 7th. Truist Financial reaffirmed a “hold” rating and issued a $145.00 price objective on shares of Quest Diagnostics in a report on Wednesday, March 20th. Barclays began coverage on shares of Quest Diagnostics in a research note on Wednesday, January 3rd. They set an “equal weight” rating and a $145.00 target price for the company. SVB Leerink began coverage on shares of Quest Diagnostics in a research note on Monday, February 26th. They set a “market perform” rating and a $135.00 target price for the company. Finally, TheStreet cut shares of Quest Diagnostics from a “b-” rating to a “c” rating in a research note on Monday, February 5th. Ten equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $144.18.

About Quest Diagnostics

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.