Sentry Investment Management LLC Lowers Position in Quest Diagnostics Incorporated (NYSE:DGX)

Sentry Investment Management LLC decreased its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 14.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 456 shares of the medical research company’s stock after selling 74 shares during the period. Sentry Investment Management LLC’s holdings in Quest Diagnostics were worth $69,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of DGX. Mizuho Securities USA LLC grew its position in Quest Diagnostics by 5,168.5% in the 3rd quarter. Mizuho Securities USA LLC now owns 451,403 shares of the medical research company’s stock worth $70,080,000 after purchasing an additional 442,835 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Quest Diagnostics by 25.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 747,298 shares of the medical research company’s stock worth $116,018,000 after buying an additional 151,365 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Quest Diagnostics by 535.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 128,440 shares of the medical research company’s stock worth $19,376,000 after buying an additional 108,224 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Quest Diagnostics by 23.8% in the fourth quarter. Principal Financial Group Inc. now owns 543,472 shares of the medical research company’s stock valued at $81,994,000 after acquiring an additional 104,495 shares in the last quarter. Finally, Barclays PLC increased its position in shares of Quest Diagnostics by 35.9% during the third quarter. Barclays PLC now owns 298,922 shares of the medical research company’s stock valued at $46,407,000 after acquiring an additional 78,980 shares during the last quarter. Institutional investors own 88.06% of the company’s stock.

Insider Activity

In related news, SVP Mark E. Delaney sold 403 shares of Quest Diagnostics stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $164.30, for a total transaction of $66,212.90. Following the completion of the sale, the senior vice president now owns 4,624 shares of the company’s stock, valued at approximately $759,723.20. This trade represents a 8.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Catherine T. Doherty sold 535 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $169.71, for a total value of $90,794.85. Following the completion of the transaction, the executive vice president now owns 71,356 shares in the company, valued at $12,109,826.76. This represents a 0.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,792 shares of company stock worth $465,998 over the last ninety days. Company insiders own 0.79% of the company’s stock.

Quest Diagnostics Stock Down 1.1 %

DGX opened at $171.54 on Friday. Quest Diagnostics Incorporated has a 12 month low of $123.66 and a 12 month high of $176.44. The company has a market cap of $19.04 billion, a PE ratio of 22.31, a price-to-earnings-growth ratio of 2.16 and a beta of 0.91. The company has a current ratio of 1.10, a quick ratio of 1.02 and a debt-to-equity ratio of 0.82. The company has a 50 day moving average of $159.23 and a 200 day moving average of $156.58.

Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings results 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 return on equity of 15.07% and a net margin of 8.80%. On average, sell-side analysts expect that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Monday, April 7th. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.75. Quest Diagnostics’s payout ratio is presently 41.61%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Piper Sandler reissued a “neutral” rating and issued a $180.00 price objective (up previously from $165.00) on shares of Quest Diagnostics in a research report on Monday, February 3rd. Truist Financial boosted their price target on shares of Quest Diagnostics from $172.00 to $182.00 and gave the stock a “hold” rating in a report on Friday, January 31st. Robert W. Baird set a $189.00 price target on shares of Quest Diagnostics in a research report on Friday, January 31st. 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 report on Monday, February 3rd. Finally, Leerink Partnrs raised shares of Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $178.23.

Quest Diagnostics Company 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.