Quest Diagnostics Incorporated (NYSE:DGX) EVP Sells $90,794.85 in Stock

Quest Diagnostics Incorporated (NYSE:DGX) EVP Catherine T. Doherty sold 535 shares of Quest Diagnostics stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $169.71, for a total transaction of $90,794.85. Following the sale, the executive vice president now directly owns 71,356 shares of the company’s stock, valued at $12,109,826.76. This represents a 0.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Quest Diagnostics Price Performance

Shares of DGX opened at $172.44 on Friday. The stock has a market cap of $19.25 billion, a PE ratio of 22.42, a price-to-earnings-growth ratio of 2.15 and a beta of 0.91. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.02 and a current ratio of 1.10. Quest Diagnostics Incorporated has a fifty-two week low of $123.66 and a fifty-two week high of $172.91. The firm’s 50-day simple moving average is $157.21 and its two-hundred day simple moving average is $155.68.

Quest Diagnostics (NYSE:DGX) last posted 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 net margin of 8.80% and a return on equity of 15.07%. Analysts anticipate 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. Stockholders of record on Monday, April 7th will be issued a dividend of $0.80 per share. 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. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.86%. Quest Diagnostics’s dividend payout ratio is presently 39.01%.

Institutional Investors Weigh In On Quest Diagnostics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp boosted its holdings in Quest Diagnostics by 16.0% in the fourth quarter. Mackenzie Financial Corp now owns 11,002 shares of the medical research company’s stock worth $1,660,000 after purchasing an additional 1,518 shares during the last quarter. Forum Financial Management LP raised its position in Quest Diagnostics by 72.9% in 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 during the period. Peak Retirement Planning Inc. bought a new position in Quest Diagnostics in the fourth quarter worth approximately $1,067,000. Toronto Dominion Bank raised its position in Quest Diagnostics by 6.9% in the fourth quarter. Toronto Dominion Bank now owns 59,686 shares of the medical research company’s stock worth $9,004,000 after acquiring an additional 3,840 shares during the period. Finally, GF Fund Management CO. LTD. bought a new position in Quest Diagnostics in the fourth quarter worth approximately $421,000. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Bank of America lifted their target price on shares of Quest Diagnostics from $179.00 to $182.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. UBS Group lifted their target price on shares of Quest Diagnostics from $166.00 to $170.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Barclays lifted their target price 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. JPMorgan Chase & Co. lifted their target price on shares of Quest Diagnostics from $173.00 to $180.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Finally, StockNews.com cut shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.