Quest Diagnostics Incorporated (NYSE:DGX) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lowered its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 36.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 103,756 shares of the medical research company’s stock after selling 60,248 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.09% of Quest Diagnostics worth $15,653,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DGX. Raymond James Financial Inc. acquired a new stake in shares of Quest Diagnostics during the 4th quarter worth about $67,447,000. Bank of New York Mellon Corp lifted its stake in shares of Quest Diagnostics by 14.8% during the fourth quarter. Bank of New York Mellon Corp now owns 881,764 shares of the medical research company’s stock valued at $133,023,000 after buying an additional 113,956 shares during the period. Assenagon Asset Management S.A. boosted its position in Quest Diagnostics by 535.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 128,440 shares of the medical research company’s stock worth $19,376,000 after acquiring an additional 108,224 shares during the last quarter. Principal Financial Group Inc. grew its stake in Quest Diagnostics by 23.8% in the 4th quarter. Principal Financial Group Inc. now owns 543,472 shares of the medical research company’s stock worth $81,994,000 after acquiring an additional 104,495 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in Quest Diagnostics in the 4th quarter valued at $14,392,000. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Trading Up 0.8 %

NYSE:DGX opened at $167.28 on Friday. Quest Diagnostics Incorporated has a 12 month low of $125.42 and a 12 month high of $178.87. The business’s 50-day moving average is $166.64 and its two-hundred day moving average is $159.01. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.10 and a quick ratio of 1.02. The firm has a market capitalization of $18.56 billion, a PE ratio of 21.75, a price-to-earnings-growth ratio of 2.16 and a beta of 0.92.

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 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%. Research analysts predict that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal 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 issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.91%. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.75. The ex-dividend date is Monday, April 7th. Quest Diagnostics’s dividend payout ratio (DPR) is presently 41.61%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on DGX shares. Barclays lifted their price objective on Quest Diagnostics from $168.00 to $175.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Morgan Stanley raised shares of Quest Diagnostics from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $145.00 to $172.00 in a research note on Tuesday, December 17th. StockNews.com cut shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Robert W. Baird upped their price target on shares of Quest Diagnostics from $190.00 to $191.00 and gave the stock an “outperform” rating in a research report on Thursday, March 20th. Finally, Citigroup lowered 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. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $178.38.

Insider Buying and Selling

In related news, SVP Mark E. Delaney sold 403 shares of Quest Diagnostics stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $164.30, for a total value of $66,212.90. Following the completion of the sale, the senior vice president now owns 4,624 shares in the company, valued at approximately $759,723.20. The trade was a 8.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Vicky B. Gregg sold 1,250 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $164.57, for a total transaction of $205,712.50. Following the completion of the sale, the director now directly owns 16,867 shares of the company’s stock, valued at $2,775,802.19. The trade was a 6.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,157 shares of company stock valued at $2,423,755 in the last quarter. Company insiders own 0.79% of the company’s stock.

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.