Insider Selling: Quest Diagnostics Incorporated (NYSE:DGX) EVP Sells $935,078.10 in Stock

Quest Diagnostics Incorporated (NYSE:DGX) EVP Catherine T. Doherty sold 5,370 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $174.13, for a total value of $935,078.10. Following the sale, the executive vice president now owns 68,068 shares in the company, valued at approximately $11,852,680.84. This represents a 7.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Quest Diagnostics Stock Performance

Shares of NYSE:DGX opened at $175.49 on Monday. 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 price of $161.74 and a 200-day moving average price of $157.63. The company has a market cap of $19.48 billion, a price-to-earnings ratio of 22.82, a price-to-earnings-growth ratio of 2.16 and a beta of 0.92. Quest Diagnostics Incorporated has a 12 month low of $125.09 and a 12 month high of $178.09.

Quest Diagnostics (NYSE:DGX) last released its quarterly 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%. As a group, equities analysts anticipate that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors 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 annualized dividend and a yield of 1.82%. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.75. Quest Diagnostics’s payout ratio is 41.61%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on DGX shares. Citigroup cut shares of Quest Diagnostics from a “buy” rating to a “neutral” rating and set a $185.00 price target on the stock. in a report on Tuesday, March 4th. Bank of America boosted their target price on Quest Diagnostics from $179.00 to $182.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Mizuho upped their target price on Quest Diagnostics from $177.00 to $178.00 and gave the stock an “outperform” rating 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 note on Monday, January 6th. Finally, Truist Financial upped their price objective on shares of Quest Diagnostics from $172.00 to $182.00 and gave the company a “hold” rating in a research note on Friday, January 31st. Eight analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $178.23.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Sierra Ocean LLC purchased a new position in shares of Quest Diagnostics during the fourth quarter valued at about $33,000. Versant Capital Management Inc boosted its position in Quest Diagnostics by 340.4% during the 4th 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 in the last quarter. First Financial Corp IN purchased a new position in shares of Quest Diagnostics during the 4th quarter worth approximately $38,000. FPC Investment Advisory Inc. purchased a new position in shares of Quest Diagnostics during the 4th quarter worth approximately $45,000. Finally, Global Trust Asset Management LLC bought a new position in shares of Quest Diagnostics in the 4th quarter worth approximately $49,000. 88.06% of the stock is currently owned by institutional investors.

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.