Quest Diagnostics Incorporated (NYSE:DGX - Get Free Report) SVP Karthik Kuppusamy sold 2,555 shares of Quest Diagnostics stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $170.00, for a total value of $434,350.00. Following the completion of the transaction, the senior vice president now owns 10,575 shares of the company's stock, valued at approximately $1,797,750. The trade was a 19.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Quest Diagnostics Price Performance
Shares of DGX opened at $164.08 on Friday. The stock has a market cap of $18.21 billion, a P/E ratio of 21.34, a price-to-earnings-growth ratio of 2.16 and a beta of 0.78. Quest Diagnostics Incorporated has a 1 year low of $125.42 and a 1 year high of $178.87. The stock's 50-day moving average price is $168.21 and its two-hundred day moving average price is $159.49. 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 - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The medical research company reported $2.23 earnings per share for the quarter, topping the consensus estimate of $2.19 by $0.04. Quest Diagnostics had a net margin of 8.80% and a return on equity of 15.07%. On average, equities analysts predict that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current year.
Quest Diagnostics Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be given a $0.80 dividend. The ex-dividend date is Monday, April 7th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.95%. This is a boost from Quest Diagnostics's previous quarterly dividend of $0.75. Quest Diagnostics's dividend payout ratio is currently 41.61%.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sierra Ocean LLC acquired a new stake in shares of Quest Diagnostics during the fourth quarter worth about $33,000. Versant Capital Management Inc increased its stake 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 worth $38,000 after purchasing an additional 194 shares in the last quarter. First Financial Corp IN acquired a new stake in Quest Diagnostics during the 4th quarter worth approximately $38,000. FPC Investment Advisory Inc. bought a new position in Quest Diagnostics in the fourth quarter valued at approximately $45,000. Finally, Global Trust Asset Management LLC acquired a new position in shares of Quest Diagnostics in the fourth quarter valued at approximately $49,000. 88.06% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on DGX shares. Redburn Atlantic assumed coverage on Quest Diagnostics in a report on Wednesday. They issued a "buy" rating and a $195.00 price target for the company. Morgan Stanley raised shares of Quest Diagnostics from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $145.00 to $172.00 in a research note on Tuesday, December 17th. Leerink Partners raised shares of Quest Diagnostics from a "market perform" rating to an "outperform" rating and increased their price target for the company from $169.00 to $174.00 in a research note on Monday, January 6th. Citigroup cut shares of Quest Diagnostics from a "buy" rating to a "neutral" rating and set a $185.00 price objective for the company. in a research report on Tuesday, March 4th. Finally, Truist Financial upped their price objective on Quest Diagnostics from $172.00 to $182.00 and gave the stock a "hold" rating in a report on Friday, January 31st. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $179.57.
Check Out Our Latest Research Report on Quest Diagnostics
About Quest Diagnostics
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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.
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