Argent Trust Co Boosts Stock Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

Argent Trust Co raised its stake in Quest Diagnostics Incorporated (NYSE:DGX) by 0.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,334 shares of the medical research company’s stock after buying an additional 145 shares during the period. Argent Trust Co’s holdings in Quest Diagnostics were worth $4,727,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of DGX. Sierra Ocean LLC purchased a new position in shares of Quest Diagnostics in the 4th quarter valued at $33,000. Versant Capital Management Inc grew its position in Quest Diagnostics by 340.4% in 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 during the last quarter. First Financial Corp IN bought a new position in Quest Diagnostics in the 4th quarter worth about $38,000. FPC Investment Advisory Inc. acquired a new stake in Quest Diagnostics during the fourth quarter valued at approximately $45,000. Finally, Global Trust Asset Management LLC acquired a new stake in Quest Diagnostics during the fourth quarter valued at approximately $49,000. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Quest Diagnostics Stock Down 0.2 %

Shares of DGX traded down $0.28 during trading hours on Thursday, hitting $163.78. The company had a trading volume of 64,110 shares, compared to its average volume of 937,533. The company has a market capitalization of $18.18 billion, a PE ratio of 21.30, a price-to-earnings-growth ratio of 2.16 and a beta of 0.78. 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 Incorporated has a one year low of $125.42 and a one year high of $178.87. The company’s fifty day moving average price is $168.48 and its two-hundred day moving average price is $159.77.

Quest Diagnostics (NYSE:DGX) last announced its earnings results on Thursday, January 30th. The medical research company reported $2.23 earnings per share (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%. As a group, equities analysts forecast that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal year.

Quest Diagnostics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be given a dividend of $0.80 per share. The ex-dividend date is Monday, April 7th. This represents a $3.20 dividend on an annualized basis and a yield of 1.95%. This is an increase from Quest Diagnostics’s previous quarterly dividend of $0.75. Quest Diagnostics’s dividend payout ratio is currently 41.61%.

Insiders Place Their Bets

In other Quest Diagnostics news, CEO J. E. Davis sold 39,191 shares of Quest Diagnostics stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $168.46, for a total value of $6,602,115.86. Following the sale, the chief executive officer now owns 127,623 shares of the company’s stock, valued at approximately $21,499,370.58. The trade was a 23.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mark E. Delaney sold 403 shares of the business’s 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 transaction, the senior vice president now owns 4,624 shares of the company’s stock, valued at $759,723.20. This trade represents a 8.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,903 shares of company stock worth $9,460,221. 0.79% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on DGX shares. Truist Financial upped their price objective on shares of Quest Diagnostics from $172.00 to $182.00 and gave the company a “hold” rating in a research note on Friday, January 31st. Barclays raised their price objective on shares of Quest Diagnostics from $168.00 to $175.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Citigroup cut shares of Quest Diagnostics from a “buy” rating to a “neutral” rating and set a $185.00 target price for the company. in a research report on Tuesday, March 4th. Morgan Stanley upgraded 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 report on Tuesday, December 17th. Finally, Leerink Partners raised shares of Quest Diagnostics from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $169.00 to $174.00 in a research report on Monday, January 6th. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $181.33.

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.