Quest Diagnostics Incorporated (NYSE:DGX) Shares Sold by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. lessened its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 27.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 194,430 shares of the medical research company's stock after selling 74,677 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.17% of Quest Diagnostics worth $29,332,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its position in Quest Diagnostics by 42.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,490,278 shares of the medical research company's stock worth $828,265,000 after buying an additional 1,637,525 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Quest Diagnostics by 2.8% during the 4th 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 during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Quest Diagnostics by 60.4% in 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 buying an additional 916,898 shares during the period. Grantham Mayo Van Otterloo & Co. LLC raised its position in Quest Diagnostics by 1.2% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,268,990 shares of the medical research company's stock valued at $342,300,000 after acquiring an additional 26,214 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Quest Diagnostics during the 4th quarter worth approximately $191,823,000. Institutional investors and hedge funds own 88.06% of the company's stock.

Insider Transactions at Quest Diagnostics

In other news, EVP Catherine T. Doherty sold 535 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $169.71, for a total value of $90,794.85. Following the completion of the transaction, the executive vice president now owns 71,356 shares in the company, valued at approximately $12,109,826.76. This represents a 0.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Mark E. Delaney sold 403 shares of Quest Diagnostics stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $164.30, for a total transaction of $66,212.90. Following the sale, the senior vice president now owns 4,624 shares in the company, valued at $759,723.20. This represents a 8.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,903 shares of company stock valued at $9,460,221. 8.16% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on DGX. JPMorgan Chase & Co. increased their target price on shares of Quest Diagnostics from $173.00 to $180.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 4th. Mizuho lifted their target price on shares of Quest Diagnostics from $178.00 to $189.00 and gave the company an "outperform" rating in a research report on Wednesday, April 9th. Evercore ISI upped their price target on shares of Quest Diagnostics from $175.00 to $180.00 and gave the stock an "in-line" rating in a research report on Wednesday, April 23rd. Truist Financial lifted their price objective on Quest Diagnostics from $182.00 to $190.00 and gave the stock a "hold" rating in a report on Wednesday, April 23rd. Finally, Redburn Partners set a $195.00 price target on Quest Diagnostics in a research note on Wednesday, April 2nd. 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $185.07.

Quest Diagnostics Stock Down 1.2 %

NYSE DGX traded down $2.10 during trading hours on Wednesday, hitting $176.40. 1,051,968 shares of the company were exchanged, compared to its average volume of 960,690. The company has a 50 day moving average of $169.19 and a two-hundred day moving average of $161.48. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.82. The firm has a market cap of $19.69 billion, a price-to-earnings ratio of 22.94, a PEG ratio of 2.16 and a beta of 0.78. Quest Diagnostics Incorporated has a 52-week low of $135.27 and a 52-week high of $179.56.

Quest Diagnostics (NYSE:DGX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The medical research company reported $2.21 EPS for the quarter, topping the consensus estimate of $2.15 by $0.06. Quest Diagnostics had a net margin of 8.80% and a return on equity of 15.07%. The company had revenue of $2.65 billion during the quarter, compared to analysts' expectations of $2.63 billion. Equities research analysts anticipate 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 was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.81%. This is an increase from Quest Diagnostics's previous quarterly dividend of $0.75. The ex-dividend date was Monday, April 7th. Quest Diagnostics's payout ratio is 40.46%.

Quest Diagnostics Company 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.