Quest Diagnostics Incorporated (NYSE:DGX) Holdings Cut by Deutsche Bank AG

Deutsche Bank AG lessened its stake in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 11.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 592,527 shares of the medical research company's stock after selling 73,516 shares during the quarter. Deutsche Bank AG owned approximately 0.53% of Quest Diagnostics worth $100,256,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of DGX. Bruce G. Allen Investments LLC grew its position in Quest Diagnostics by 57.8% in the 1st quarter. Bruce G. Allen Investments LLC now owns 183 shares of the medical research company's stock worth $31,000 after purchasing an additional 67 shares during the last quarter. First Horizon Advisors Inc. grew its position in Quest Diagnostics by 76.6% in the 1st quarter. First Horizon Advisors Inc. now owns 189 shares of the medical research company's stock worth $32,000 after purchasing an additional 82 shares during the last quarter. Golden State Wealth Management LLC grew its position in Quest Diagnostics by 157.3% in the 1st quarter. Golden State Wealth Management LLC now owns 193 shares of the medical research company's stock worth $33,000 after purchasing an additional 118 shares during the last quarter. NBC Securities Inc. bought a new position in Quest Diagnostics in the 1st quarter worth about $35,000. Finally, Continuum Advisory LLC grew its position in Quest Diagnostics by 11,100.0% in the 1st quarter. Continuum Advisory LLC now owns 224 shares of the medical research company's stock worth $38,000 after purchasing an additional 222 shares during the last quarter. Institutional investors and hedge funds own 88.06% of the company's stock.

Insider Activity at Quest Diagnostics

In other Quest Diagnostics news, SVP Patrick Plewman sold 5,535 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $175.00, for a total value of $968,625.00. Following the completion of the sale, the senior vice president owned 19,219 shares in the company, valued at $3,363,325. This represents a 22.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Karthik Kuppusamy sold 2,210 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $170.00, for a total transaction of $375,700.00. Following the completion of the sale, the senior vice president owned 8,450 shares of the company's stock, valued at approximately $1,436,500. The trade was a 20.73% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,014 shares of company stock valued at $2,728,556. 8.16% of the stock is owned by insiders.

Quest Diagnostics Price Performance

DGX stock traded down $0.60 on Thursday, hitting $178.44. 486,747 shares of the company's stock traded hands, compared to its average volume of 1,174,077. Quest Diagnostics Incorporated has a 1-year low of $146.17 and a 1-year high of $182.38. The stock has a market cap of $19.95 billion, a price-to-earnings ratio of 21.37, a P/E/G ratio of 2.37 and a beta of 0.46. The stock has a fifty day moving average of $174.48 and a 200-day moving average of $171.45. The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 0.71.

Quest Diagnostics (NYSE:DGX - Get Free Report) last released its earnings results on Tuesday, July 22nd. The medical research company reported $2.62 EPS for the quarter, beating the consensus estimate of $2.57 by $0.05. The business had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.73 billion. Quest Diagnostics had a net margin of 9.01% and a return on equity of 15.24%. The business's quarterly revenue was up 15.2% on a year-over-year basis. During the same period in the prior year, the business earned $2.35 earnings per share. On average, analysts forecast that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Friday, October 3rd will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.8%. Quest Diagnostics's dividend payout ratio (DPR) is presently 38.32%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. UBS Group decreased their target price on shares of Quest Diagnostics from $176.00 to $175.00 and set a "neutral" rating for the company in a research report on Friday, July 18th. Truist Financial increased their price objective on shares of Quest Diagnostics from $190.00 to $192.00 and gave the company a "hold" rating in a report on Wednesday, July 23rd. Evercore ISI set a $185.00 price objective on shares of Quest Diagnostics in a report on Wednesday, July 23rd. William Blair reiterated an "outperform" rating on shares of Quest Diagnostics in a report on Wednesday, July 23rd. Finally, Piper Sandler increased their price objective on shares of Quest Diagnostics from $180.00 to $200.00 and gave the company a "neutral" rating in a report on Monday, April 28th. Nine research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Quest Diagnostics presently has a consensus rating of "Moderate Buy" and a consensus price target of $186.00.

About Quest Diagnostics

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.