Quest Diagnostics Incorporated (NYSE:DGX) SVP Michael E. Prevoznik Sells 604 Shares

Quest Diagnostics Incorporated (NYSE:DGX) SVP Michael E. Prevoznik sold 604 shares of Quest Diagnostics stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $170.99, for a total transaction of $103,277.96. Following the transaction, the senior vice president now owns 39,845 shares in the company, valued at approximately $6,813,096.55. This trade represents a 1.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Quest Diagnostics Price Performance

Shares of NYSE DGX opened at $172.44 on Friday. The firm’s 50-day moving average price is $157.21 and its 200-day moving average price is $155.68. Quest Diagnostics Incorporated has a 1-year low of $123.66 and a 1-year high of $172.91. The firm has a market capitalization of $19.25 billion, a P/E ratio of 22.42, a P/E/G ratio of 2.15 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.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings data on Thursday, January 30th. The medical research company reported $2.23 earnings per share for the quarter, beating the consensus estimate of $2.19 by $0.04. Quest Diagnostics had a net margin of 8.80% and a return on equity of 15.07%. Equities research analysts anticipate that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal year.

Quest Diagnostics Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be issued a dividend of $0.80 per share. The ex-dividend date is Monday, April 7th. This represents a $3.20 annualized dividend and a dividend yield of 1.86%. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.75. Quest Diagnostics’s dividend payout ratio is currently 39.01%.

Institutional Investors Weigh In On Quest Diagnostics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Mackenzie Financial Corp increased its position in shares of Quest Diagnostics by 16.0% during the fourth quarter. Mackenzie Financial Corp now owns 11,002 shares of the medical research company’s stock worth $1,660,000 after acquiring an additional 1,518 shares in the last quarter. Forum Financial Management LP increased its position in shares of Quest Diagnostics by 72.9% during the fourth quarter. Forum Financial Management LP now owns 3,355 shares of the medical research company’s stock worth $506,000 after acquiring an additional 1,415 shares in the last quarter. Peak Retirement Planning Inc. bought a new stake in shares of Quest Diagnostics during the fourth quarter worth about $1,067,000. Toronto Dominion Bank grew its position in Quest Diagnostics by 6.9% in the 4th quarter. Toronto Dominion Bank now owns 59,686 shares of the medical research company’s stock worth $9,004,000 after purchasing an additional 3,840 shares in the last quarter. Finally, GF Fund Management CO. LTD. bought a new stake in Quest Diagnostics in the 4th quarter worth about $421,000. 88.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. StockNews.com lowered shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. UBS Group lifted their price target on shares of Quest Diagnostics from $166.00 to $170.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Truist Financial lifted 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. Jefferies Financial Group restated a “buy” rating and issued a $185.00 target price (up previously from $175.00) on shares of Quest Diagnostics in a report on Tuesday, December 10th. Finally, Piper Sandler restated a “neutral” rating and issued a $180.00 target price (up previously from $165.00) on shares of Quest Diagnostics in a report on Monday, February 3rd. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Quest Diagnostics has a consensus rating of “Moderate Buy” and an average price target of $177.69.

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.