Weatherly Asset Management L. P. Sells 2,600 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

Weatherly Asset Management L. P. lessened its position in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 9.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 26,355 shares of the medical research company’s stock after selling 2,600 shares during the period. Weatherly Asset Management L. P.’s holdings in Quest Diagnostics were worth $3,634,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of DGX. NBC Securities Inc. bought a new stake in Quest Diagnostics during the 3rd quarter worth approximately $25,000. VisionPoint Advisory Group LLC increased its holdings in Quest Diagnostics by 100.0% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 218 shares of the medical research company’s stock worth $27,000 after acquiring an additional 109 shares during the period. BKM Wealth Management LLC bought a new stake in Quest Diagnostics during the 4th quarter worth approximately $29,000. FinTrust Capital Advisors LLC increased its holdings in Quest Diagnostics by 1,100.0% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 264 shares of the medical research company’s stock worth $32,000 after acquiring an additional 242 shares during the period. Finally, Headinvest LLC bought a new stake in Quest Diagnostics during the 3rd quarter worth approximately $36,000. Institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Trading Up 5.1 %

DGX traded up $6.65 during trading on Tuesday, hitting $136.74. 2,088,321 shares of the stock traded hands, compared to its average volume of 1,057,877. The firm has a market capitalization of $15.19 billion, a P/E ratio of 18.26, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.31 and a quick ratio of 1.20. The firm has a 50-day moving average of $128.32 and a 200 day moving average of $130.95. Quest Diagnostics Incorporated has a 12-month low of $119.59 and a 12-month high of $148.62.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings results on Thursday, February 1st. The medical research company reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.11 by $0.04. The business had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.25 billion. Quest Diagnostics had a net margin of 9.23% and a return on equity of 15.79%. The firm’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.98 EPS. Equities research analysts anticipate that Quest Diagnostics Incorporated will post 8.75 EPS for the current year.

Quest Diagnostics Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 8th were paid a dividend of $0.75 per share. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.71. The ex-dividend date was Friday, April 5th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.19%. Quest Diagnostics’s payout ratio is presently 37.92%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on DGX. Jefferies Financial Group raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating and increased their price target for the stock from $140.00 to $155.00 in a report on Wednesday, February 7th. StockNews.com lowered shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Wednesday, April 17th. Truist Financial reissued a “hold” rating and issued a $145.00 price target on shares of Quest Diagnostics in a report on Wednesday, March 20th. Leerink Partnrs reissued a “market perform” rating on shares of Quest Diagnostics in a report on Monday, February 26th. Finally, SVB Leerink began coverage on shares of Quest Diagnostics in a report on Monday, February 26th. They issued a “market perform” rating and a $135.00 price target on the stock. Ten investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Quest Diagnostics presently has an average rating of “Hold” and a consensus price target of $144.18.

Insider Activity

In related news, SVP Michael E. Prevoznik sold 661 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $126.14, for a total transaction of $83,378.54. Following the sale, the senior vice president now owns 40,206 shares of the company’s stock, valued at $5,071,584.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Michael E. Prevoznik sold 5,611 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $125.88, for a total transaction of $706,312.68. Following the sale, the senior vice president now owns 38,478 shares of the company’s stock, valued at $4,843,610.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michael E. Prevoznik sold 661 shares of Quest Diagnostics stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $126.14, for a total transaction of $83,378.54. Following the completion of the transaction, the senior vice president now directly owns 40,206 shares of the company’s stock, valued at $5,071,584.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,150 shares of company stock valued at $1,913,202. Corporate insiders own 0.79% of the company’s stock.

Quest Diagnostics 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.