Quest Diagnostics Incorporated (NYSE:DGX) SVP Sells $434,350.00 in Stock

Quest Diagnostics Incorporated (NYSE:DGX) SVP Karthik Kuppusamy sold 2,555 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $170.00, for a total value of $434,350.00. Following the completion of the sale, the senior vice president now directly owns 10,575 shares of the company’s stock, valued at $1,797,750. The trade was a 19.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Quest Diagnostics Stock Down 3.8 %

Shares of DGX opened at $164.08 on Monday. The stock’s 50-day moving average price is $168.21 and its 200-day moving average price is $159.55. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $18.21 billion, a price-to-earnings ratio of 21.34, a PEG ratio of 2.16 and a beta of 0.78. Quest Diagnostics Incorporated has a 52 week low of $125.42 and a 52 week high of $178.87.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings data on Thursday, January 30th. The medical research company reported $2.23 EPS for the quarter, topping analysts’ consensus estimates of $2.19 by $0.04. Quest Diagnostics had a net margin of 8.80% and a return on equity of 15.07%. On average, sell-side analysts predict that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be given a $0.80 dividend. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.95%. This is an increase from Quest Diagnostics’s previous quarterly dividend of $0.75. Quest Diagnostics’s dividend payout ratio is 41.61%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Piper Sandler reissued a “neutral” rating and issued a $180.00 price target (up previously from $165.00) on shares of Quest Diagnostics in a report on Monday, February 3rd. Leerink Partners upgraded shares of Quest Diagnostics from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $169.00 to $174.00 in a research note on Monday, January 6th. Bank of America upped their price target on shares of Quest Diagnostics from $179.00 to $182.00 and gave the company a “buy” rating in a research note on Friday, December 13th. UBS Group lifted their price objective on shares of Quest Diagnostics from $166.00 to $170.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Finally, Robert W. Baird upped their target price on Quest Diagnostics from $190.00 to $191.00 and gave the company an “outperform” rating in a research report on Thursday, March 20th. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $179.57.

Institutional Investors Weigh In On Quest Diagnostics

A number of institutional investors have recently modified their holdings of DGX. Sanctuary Advisors LLC boosted its position in Quest Diagnostics by 85.5% during the third quarter. Sanctuary Advisors LLC now owns 17,969 shares of the medical research company’s stock worth $2,940,000 after purchasing an additional 8,282 shares in the last quarter. BankPlus Wealth Management LLC acquired a new position in shares of Quest Diagnostics during the 4th quarter worth approximately $355,000. Van ECK Associates Corp lifted its position in shares of Quest Diagnostics by 980.3% during the 4th quarter. Van ECK Associates Corp now owns 24,198 shares of the medical research company’s stock valued at $3,650,000 after buying an additional 21,958 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Quest Diagnostics in the 4th quarter valued at $54,000. Finally, Clean Yield Group increased its holdings in Quest Diagnostics by 17.7% in the 4th quarter. Clean Yield Group now owns 26,428 shares of the medical research company’s stock worth $3,987,000 after acquiring an additional 3,983 shares in the last quarter. 88.06% of the stock is currently owned by institutional investors and hedge funds.

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.