Rafferty Asset Management LLC Trims Stock Position in Quest Diagnostics Incorporated (NYSE:DGX)

Rafferty Asset Management LLC cut its stake in shares of Quest Diagnostics Incorporated (NYSE:DGXFree Report) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,437 shares of the medical research company’s stock after selling 286 shares during the quarter. Rafferty Asset Management LLC’s holdings in Quest Diagnostics were worth $1,577,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Altshuler Shaham Ltd purchased a new position in Quest Diagnostics during the fourth quarter valued at approximately $26,000. VisionPoint Advisory Group LLC increased its holdings in Quest Diagnostics by 100.0% during the third quarter. VisionPoint Advisory Group LLC now owns 218 shares of the medical research company’s stock valued at $27,000 after buying an additional 109 shares during the period. BKM Wealth Management LLC purchased a new position in Quest Diagnostics during the fourth quarter valued at approximately $29,000. Alaska Permanent Fund Corp increased its holdings in Quest Diagnostics by 79.3% during the fourth quarter. Alaska Permanent Fund Corp now owns 242 shares of the medical research company’s stock valued at $33,000 after buying an additional 107 shares during the period. Finally, Headinvest LLC purchased a new position in Quest Diagnostics during the third quarter valued at approximately $36,000. 88.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Quest Diagnostics

In related news, SVP Karthik Kuppusamy sold 1,760 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $140.00, for a total transaction of $246,400.00. Following the completion of the transaction, the senior vice president now directly owns 13,435 shares in the company, valued at $1,880,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.79% of the stock is currently owned by insiders.

Quest Diagnostics Trading Down 0.6 %

NYSE:DGX opened at $141.47 on Tuesday. Quest Diagnostics Incorporated has a 12 month low of $119.59 and a 12 month high of $145.62. The firm has a fifty day simple moving average of $136.71 and a 200-day simple moving average of $133.55. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $15.72 billion, a P/E ratio of 19.04, a PEG ratio of 3.09 and a beta of 0.90.

Quest Diagnostics (NYSE:DGXGet Free Report) last posted its quarterly earnings data on Tuesday, April 23rd. The medical research company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.86 by $0.18. The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.29 billion. Quest Diagnostics had a net margin of 9.11% and a return on equity of 15.52%. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.04 earnings per share. On average, equities research analysts anticipate that Quest Diagnostics Incorporated will post 8.79 earnings per share for the current year.

Quest Diagnostics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 22nd. Investors of record on Monday, July 8th will be given a dividend of $0.75 per share. The ex-dividend date is Monday, July 8th. This represents a $3.00 dividend on an annualized basis and a yield of 2.12%. Quest Diagnostics’s dividend payout ratio is presently 38.22%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on DGX shares. Citigroup lifted their price objective on shares of Quest Diagnostics from $135.00 to $145.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Truist Financial lifted their price target on shares of Quest Diagnostics from $145.00 to $150.00 and gave the stock a “hold” rating in a report on Wednesday, April 24th. SVB Leerink started 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. Mizuho lifted their price target on shares of Quest Diagnostics from $150.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Quest Diagnostics from $152.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. Ten investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Quest Diagnostics has a consensus rating of “Hold” and an average target price of $146.67.

View Our Latest Report on DGX

About Quest Diagnostics

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Quest Diagnostics (NYSE:DGX)

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