Steph & Co. Decreases Stock Position in Quest Diagnostics Incorporated (NYSE:DGX)

Steph & Co. decreased its position in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 2.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,802 shares of the medical research company’s stock after selling 132 shares during the period. Steph & Co.’s holdings in Quest Diagnostics were worth $724,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of Quest Diagnostics by 1.4% during the third quarter. State Street Corp now owns 5,263,231 shares of the medical research company’s stock worth $817,117,000 after acquiring an additional 70,578 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Quest Diagnostics by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,616,653 shares of the medical research company’s stock valued at $404,838,000 after purchasing an additional 39,217 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Quest Diagnostics by 6.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,109,515 shares of the medical research company’s stock worth $288,758,000 after buying an additional 129,395 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Quest Diagnostics by 2.1% in the third quarter. DekaBank Deutsche Girozentrale now owns 748,680 shares of the medical research company’s stock worth $115,621,000 after buying an additional 15,047 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in Quest Diagnostics by 25.4% in the third quarter. BNP Paribas Financial Markets now owns 747,298 shares of the medical research company’s stock valued at $116,018,000 after acquiring an additional 151,365 shares in the last quarter. Institutional investors and hedge funds own 88.06% of the company’s stock.

Quest Diagnostics Trading Down 1.6 %

NYSE:DGX opened at $150.47 on Thursday. Quest Diagnostics Incorporated has a 1 year low of $123.04 and a 1 year high of $165.32. The business has a fifty day moving average of $156.66 and a 200-day moving average of $152.47. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.17 and a current ratio of 1.25. The stock has a market cap of $16.79 billion, a price-to-earnings ratio of 20.22, a PEG ratio of 2.37 and a beta of 0.90.

Quest Diagnostics (NYSE:DGX) last released its earnings results on Tuesday, October 22nd. The medical research company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.26 by $0.04. The firm had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.43 billion. Quest Diagnostics had a net margin of 8.82% and a return on equity of 15.25%. Quest Diagnostics’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the company earned $2.22 EPS. Equities analysts predict that Quest Diagnostics Incorporated will post 8.9 earnings per share for the current year.

Quest Diagnostics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Tuesday, January 14th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Tuesday, January 14th. Quest Diagnostics’s payout ratio is currently 40.32%.

Insider Activity

In other Quest Diagnostics news, CAO Michael J. Deppe sold 18,755 shares of Quest Diagnostics stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $154.05, for a total value of $2,889,207.75. Following the transaction, the chief accounting officer now owns 34,941 shares in the company, valued at approximately $5,382,661.05. The trade was a 34.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Karthik Kuppusamy sold 1,775 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $156.92, for a total value of $278,533.00. Following the sale, the senior vice president now owns 9,734 shares of the company’s stock, valued at $1,527,459.28. This trade represents a 15.42 % decrease in their position. The disclosure for this sale can be found here. 0.79% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on DGX. UBS Group boosted their target price on shares of Quest Diagnostics from $165.00 to $166.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Bank of America upped their price objective on Quest Diagnostics from $179.00 to $182.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Jefferies Financial Group reiterated a “buy” rating and issued a $185.00 target price (up previously from $175.00) on shares of Quest Diagnostics in a research report on Tuesday, December 10th. Baird R W raised Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 23rd. Finally, Piper Sandler boosted their target price on shares of Quest Diagnostics from $150.00 to $165.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $172.15.

About Quest Diagnostics

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.