Quest Diagnostics Incorporated (NYSE:DGX) Shares Acquired by State of Wyoming

State of Wyoming raised its stake in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 273.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,509 shares of the medical research company's stock after purchasing an additional 1,838 shares during the quarter. State of Wyoming's holdings in Quest Diagnostics were worth $379,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in DGX. Sierra Ocean LLC purchased a new position in shares of Quest Diagnostics in the 4th quarter worth $33,000. FPC Investment Advisory Inc. acquired a new stake in Quest Diagnostics during the fourth quarter worth about $45,000. Global Trust Asset Management LLC purchased a new position in shares of Quest Diagnostics in the 4th quarter worth about $49,000. SBI Securities Co. Ltd. purchased a new position in shares of Quest Diagnostics in the 4th quarter worth about $54,000. Finally, Sandy Spring Bank lifted its stake in shares of Quest Diagnostics by 142.5% in the 4th quarter. Sandy Spring Bank now owns 485 shares of the medical research company's stock valued at $73,000 after purchasing an additional 285 shares in the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

Quest Diagnostics Stock Up 1.0%

Quest Diagnostics stock traded up $1.72 during midday trading on Monday, hitting $171.34. 1,025,574 shares of the stock were exchanged, compared to its average volume of 992,088. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.10 and a quick ratio of 1.02. The company has a 50 day moving average price of $170.37 and a two-hundred day moving average price of $164.31. The firm has a market cap of $19.13 billion, a P/E ratio of 22.28, a P/E/G ratio of 2.16 and a beta of 0.52. Quest Diagnostics Incorporated has a 1 year low of $135.47 and a 1 year high of $179.99.

Quest Diagnostics (NYSE:DGX - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The medical research company reported $2.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.06. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.63 billion. Quest Diagnostics had a return on equity of 15.07% and a net margin of 8.80%. On average, sell-side analysts predict that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal year.

Quest Diagnostics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Shareholders of record on Monday, July 7th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Monday, July 7th. Quest Diagnostics's payout ratio is 40.46%.

Insider Buying and Selling at Quest Diagnostics

In other Quest Diagnostics news, CEO J. E. Davis sold 39,191 shares of the firm's stock in a transaction 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 directly owns 127,623 shares of the company's stock, valued at $21,499,370.58. This trade represents a 23.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michael E. Prevoznik sold 528 shares of the company's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $172.61, for a total transaction of $91,138.08. Following the completion of the sale, the senior vice president now owns 39,031 shares in the company, valued at approximately $6,737,140.91. This trade represents a 1.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 53,985 shares of company stock valued at $9,147,802 in the last three months. Corporate insiders own 8.16% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on DGX. Citigroup downgraded 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. UBS Group boosted their price objective on shares of Quest Diagnostics from $166.00 to $170.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. Redburn Atlantic assumed coverage on shares of Quest Diagnostics in a research report on Wednesday, April 2nd. They issued a "buy" rating and a $195.00 price objective for the company. Barclays raised their target price on shares of Quest Diagnostics from $175.00 to $185.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 23rd. Finally, Piper Sandler upped their price target on shares of Quest Diagnostics from $180.00 to $200.00 and gave the stock a "neutral" rating in a research report on Monday, April 28th. Eight investment 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $185.73.

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.