Quest Diagnostics Incorporated (NYSE:DGX) Shares Sold by Wasatch Advisors LP

Wasatch Advisors LP reduced its position in Quest Diagnostics Incorporated (NYSE:DGX) by 6.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,647 shares of the medical research company’s stock after selling 2,000 shares during the period. Wasatch Advisors LP’s holdings in Quest Diagnostics were worth $4,623,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Geode Capital Management LLC lifted its position in Quest Diagnostics by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 2,690,021 shares of the medical research company’s stock valued at $404,764,000 after buying an additional 73,368 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Quest Diagnostics by 60.4% during the 4th quarter. JPMorgan Chase & Co. now owns 2,433,913 shares of the medical research company’s stock valued at $367,180,000 after acquiring an additional 916,898 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC boosted its position in Quest Diagnostics by 1.2% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,268,990 shares of the medical research company’s stock worth $342,300,000 after purchasing an additional 26,214 shares during the period. Norges Bank acquired a new stake in Quest Diagnostics in the 4th quarter valued at $191,823,000. Finally, FMR LLC raised its position in Quest Diagnostics by 2.1% in the fourth quarter. FMR LLC now owns 1,137,114 shares of the medical research company’s stock valued at $171,545,000 after purchasing an additional 23,425 shares during the period. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Trading Down 1.6 %

Shares of DGX opened at $164.62 on Thursday. The business’s 50-day moving average price is $168.71 and its 200 day moving average price is $160.13. The company has a current ratio of 1.10, a quick ratio of 1.02 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $18.27 billion, a P/E ratio of 21.41, a P/E/G 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.

Quest Diagnostics (NYSE:DGX) last released its earnings results 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%. Analysts expect that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current year.

Quest Diagnostics Increases Dividend

The firm 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 an increase 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 1.94%. Quest Diagnostics’s payout ratio is currently 41.61%.

Insider Activity at Quest Diagnostics

In related news, Director Vicky B. Gregg sold 1,250 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $164.57, for a total transaction of $205,712.50. Following the transaction, the director now directly owns 16,867 shares of the company’s stock, valued at approximately $2,775,802.19. The trade was a 6.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO J. E. Davis sold 39,191 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $168.46, for a total transaction of $6,602,115.86. Following the completion of the transaction, the chief executive officer now owns 127,623 shares in the company, valued at approximately $21,499,370.58. This represents a 23.49 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 55,903 shares of company stock valued at $9,460,221. Company insiders own 0.79% of the company’s stock.

Analysts Set New Price Targets

DGX has been the subject of several analyst reports. UBS Group upped their target price on Quest Diagnostics from $166.00 to $170.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. increased their price objective on shares of Quest Diagnostics from $173.00 to $180.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Redburn Partners set a $195.00 target price on shares of Quest Diagnostics in a research report on Wednesday, April 2nd. Redburn Atlantic began coverage on shares of Quest Diagnostics in a report on Wednesday, April 2nd. They set a “buy” rating and a $195.00 price target for the company. Finally, StockNews.com downgraded shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Eight equities research 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.