Quest Diagnostics Incorporated (NYSE:DGX) SVP Sells $91,138.08 in Stock

Quest Diagnostics Incorporated (NYSE:DGX) SVP Michael E. Prevoznik sold 528 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $172.61, for a total transaction of $91,138.08. Following the completion of the sale, the senior vice president now owns 39,031 shares in the company, valued at $6,737,140.91. This represents a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Quest Diagnostics Price Performance

Shares of DGX traded up $1.31 during trading hours on Friday, reaching $172.86. 1,197,915 shares of the company’s stock traded hands, compared to its average volume of 1,056,162. The firm’s 50 day simple moving average is $159.23 and its 200-day simple moving average is $156.58. The stock has a market cap of $19.18 billion, a PE ratio of 22.48, a price-to-earnings-growth ratio of 2.16 and a beta of 0.91. Quest Diagnostics Incorporated has a 12 month low of $123.66 and a 12 month high of $176.44. 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 return on equity of 15.07% and a net margin of 8.80%. Equities analysts expect that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.85%. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Monday, April 7th. Quest Diagnostics’s dividend payout ratio is presently 41.61%.

Institutional Investors Weigh In On Quest Diagnostics

A number of institutional investors have recently modified their holdings of DGX. Sierra Ocean LLC purchased a new stake in shares of Quest Diagnostics in the fourth quarter worth $33,000. Versant Capital Management Inc lifted its holdings in Quest Diagnostics by 340.4% in the fourth quarter. Versant Capital Management Inc now owns 251 shares of the medical research company’s stock valued at $38,000 after acquiring an additional 194 shares during the period. First Financial Corp IN bought a new position in Quest Diagnostics in the fourth quarter valued at about $38,000. FPC Investment Advisory Inc. purchased a new stake in Quest Diagnostics in the fourth quarter worth about $45,000. Finally, Global Trust Asset Management LLC purchased a new stake in Quest Diagnostics in the fourth quarter worth about $49,000. 88.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on DGX shares. Jefferies Financial Group restated a “buy” rating and set a $185.00 target price (up from $175.00) on shares of Quest Diagnostics in a report on Tuesday, December 10th. Piper Sandler reissued a “neutral” rating and issued a $180.00 target price (up from $165.00) on shares of Quest Diagnostics in a research note on Monday, February 3rd. Leerink Partnrs raised shares of Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Robert W. Baird set a $189.00 target price on Quest Diagnostics in a report on Friday, January 31st. Finally, Morgan Stanley raised Quest Diagnostics from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $145.00 to $172.00 in a report on Tuesday, December 17th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Quest Diagnostics currently has an average 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.