Metis Global Partners LLC Trims Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

Metis Global Partners LLC lowered its position in Quest Diagnostics Incorporated (NYSE:DGX) by 9.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,494 shares of the medical research company’s stock after selling 716 shares during the period. Metis Global Partners LLC’s holdings in Quest Diagnostics were worth $980,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. US Bancorp DE boosted its holdings in shares of Quest Diagnostics by 2.1% in the 4th quarter. US Bancorp DE now owns 24,400 shares of the medical research company’s stock valued at $3,681,000 after acquiring an additional 497 shares during the last quarter. SVB Wealth LLC purchased a new stake in Quest Diagnostics in the fourth quarter valued at $10,345,000. Flputnam Investment Management Co. grew its position in Quest Diagnostics by 8.4% during the 4th quarter. Flputnam Investment Management Co. now owns 1,815 shares of the medical research company’s stock worth $274,000 after purchasing an additional 141 shares during the period. Waterway Wealth Management LLC raised its stake in shares of Quest Diagnostics by 16.7% during the 4th quarter. Waterway Wealth Management LLC now owns 4,617 shares of the medical research company’s stock valued at $697,000 after buying an additional 662 shares during the last quarter. Finally, Private Trust Co. NA lifted its holdings in shares of Quest Diagnostics by 7.7% in the 4th quarter. Private Trust Co. NA now owns 1,053 shares of the medical research company’s stock valued at $159,000 after buying an additional 75 shares during the period. Institutional investors and hedge funds own 88.06% of the company’s stock.

Quest Diagnostics Stock Down 1.0 %

DGX opened at $175.16 on Wednesday. The company has a market cap of $19.44 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 2.16 and a beta of 0.91. Quest Diagnostics Incorporated has a twelve month low of $124.25 and a twelve month high of $178.09. The company has a 50-day moving average price of $160.54 and a 200 day moving average price of $157.18. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.82.

Quest Diagnostics (NYSE:DGX) last announced its earnings results on Thursday, January 30th. The medical research company reported $2.23 EPS for the quarter, beating 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%. Sell-side analysts expect that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal 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 issued a $0.80 dividend. The ex-dividend date is Monday, April 7th. This represents a $3.20 dividend on an annualized basis and a yield of 1.83%. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.75. Quest Diagnostics’s dividend payout ratio (DPR) is presently 41.61%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Piper Sandler reaffirmed a “neutral” rating and set a $180.00 target price (up from $165.00) on shares of Quest Diagnostics in a report on Monday, February 3rd. Leerink Partners raised shares of Quest Diagnostics from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $169.00 to $174.00 in a research note on Monday, January 6th. Leerink Partnrs raised shares of Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Truist Financial raised their price target on shares of Quest Diagnostics from $172.00 to $182.00 and gave the company a “hold” rating in a research report on Friday, January 31st. Finally, Barclays upped their price objective on shares of Quest Diagnostics from $168.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Eight equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Quest Diagnostics has an average rating of “Moderate Buy” and a consensus price target of $178.23.

Insiders Place Their Bets

In other Quest Diagnostics news, SVP Mark E. Delaney sold 403 shares of the business’s 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 transaction, the senior vice president now owns 4,624 shares of the company’s stock, valued at approximately $759,723.20. The trade was a 8.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Vicky B. Gregg sold 1,250 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $164.57, for a total value of $205,712.50. Following the completion of the sale, the director now owns 16,867 shares of the company’s stock, valued at approximately $2,775,802.19. The trade was a 6.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,144 shares of company stock valued at $699,367 in the last 90 days. 0.79% of the stock is owned by insiders.

Quest Diagnostics 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.