Quest Diagnostics Incorporated (NYSE:DGX) Position Trimmed by Securian Asset Management Inc.

Securian Asset Management Inc. trimmed its stake in Quest Diagnostics Incorporated (NYSE:DGX) by 11.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,112 shares of the medical research company’s stock after selling 897 shares during the quarter. Securian Asset Management Inc.’s holdings in Quest Diagnostics were worth $981,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in DGX. Nuance Investments LLC purchased a new stake in Quest Diagnostics in the 4th quarter worth approximately $83,070,000. JPMorgan Chase & Co. boosted its position in Quest Diagnostics by 36.8% during the third 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. American Century Companies Inc. increased its position in Quest Diagnostics by 12.3% in the 3rd quarter. American Century Companies Inc. now owns 3,554,517 shares of the medical research company’s stock worth $433,153,000 after purchasing an additional 388,162 shares during the last quarter. Wellington Management Group LLP increased its position in Quest Diagnostics by 14.6% in the 3rd quarter. Wellington Management Group LLP now owns 2,613,793 shares of the medical research company’s stock worth $318,517,000 after purchasing an additional 333,947 shares during the last quarter. Finally, Pathstone Family Office LLC lifted its holdings in shares of Quest Diagnostics by 2,400.9% during the 3rd quarter. Pathstone Family Office LLC now owns 336,521 shares of the medical research company’s stock valued at $41,008,000 after buying an additional 323,065 shares during the last quarter. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Quest Diagnostics

In related news, SVP Michael E. Prevoznik sold 661 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $126.14, for a total transaction of $83,378.54. Following the transaction, the senior vice president now owns 40,206 shares in the company, valued at approximately $5,071,584.84. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related 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 transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael E. Prevoznik sold 661 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $126.14, for a total transaction of $83,378.54. Following the transaction, the senior vice president now 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 quarter, insiders have sold 16,910 shares of company stock worth $2,159,602. Insiders own 0.79% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on DGX. Jefferies Financial Group raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating and boosted their target price for the stock from $140.00 to $155.00 in a research report on Wednesday, February 7th. Truist Financial raised their price objective on Quest Diagnostics from $145.00 to $150.00 and gave the company a “hold” rating in a research note on Wednesday, April 24th. UBS Group upped their target price on Quest Diagnostics from $139.00 to $146.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Leerink Partnrs reissued a “market perform” rating on shares of Quest Diagnostics in a research report on Monday, February 26th. Finally, TheStreet lowered 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 three have assigned a buy rating to the stock. According to MarketBeat.com, Quest Diagnostics has a consensus rating of “Hold” and a consensus price target of $146.17.

Quest Diagnostics Price Performance

Shares of NYSE:DGX opened at $143.34 on Wednesday. The business’s 50 day moving average is $133.57 and its 200-day moving average is $132.86. The firm has a market capitalization of $15.92 billion, a PE ratio of 19.29, a PEG ratio of 3.13 and a beta of 0.88. Quest Diagnostics Incorporated has a 1-year low of $119.59 and a 1-year high of $145.62. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.59.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings data on Tuesday, April 23rd. The medical research company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.86 by $0.18. The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.29 billion. Quest Diagnostics had a return on equity of 15.52% and a net margin of 9.11%. The company’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.04 earnings per share. Sell-side analysts predict that Quest Diagnostics Incorporated will post 8.78 earnings per share for the current year.

Quest Diagnostics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 22nd. Shareholders of record on Monday, July 8th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Monday, July 8th. Quest Diagnostics’s dividend payout ratio is currently 38.22%.

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.