Worldquant Millennium Advisors LLC Reduces Stake in Quest Diagnostics Incorporated (NYSE:DGX)

Worldquant Millennium Advisors LLC decreased its position in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 19.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,444 shares of the medical research company's stock after selling 3,582 shares during the quarter. Worldquant Millennium Advisors LLC's holdings in Quest Diagnostics were worth $2,179,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DGX. Barclays PLC raised its position in shares of Quest Diagnostics by 35.9% during the 3rd quarter. Barclays PLC now owns 298,922 shares of the medical research company's stock valued at $46,407,000 after purchasing an additional 78,980 shares during the period. Merit Financial Group LLC lifted its holdings in Quest Diagnostics by 39.6% during the 4th quarter. Merit Financial Group LLC now owns 2,452 shares of the medical research company's stock valued at $370,000 after buying an additional 696 shares in the last quarter. Ballentine Partners LLC bought a new stake in Quest Diagnostics during the 4th quarter valued at about $204,000. Fort Washington Investment Advisors Inc. OH raised its stake in shares of Quest Diagnostics by 7.4% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 9,010 shares of the medical research company's stock worth $1,359,000 after acquiring an additional 622 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its position in Quest Diagnostics by 4.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 10,555 shares of the medical research company's stock worth $1,592,000 after purchasing an additional 402 shares during the last quarter. Institutional investors own 88.06% of the company's stock.

Quest Diagnostics Stock Down 1.1%

Shares of DGX traded down $1.84 on Wednesday, hitting $171.84. The company's stock had a trading volume of 184,457 shares, compared to its average volume of 989,153. Quest Diagnostics Incorporated has a fifty-two week low of $135.47 and a fifty-two week high of $179.99. The firm has a market capitalization of $19.18 billion, a price-to-earnings ratio of 22.33, a P/E/G ratio of 2.16 and a beta of 0.52. 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's fifty day moving average price is $170.58 and its 200-day moving average price is $164.45.

Quest Diagnostics (NYSE:DGX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The medical research company reported $2.21 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.06. The firm had revenue of $2.65 billion for the quarter, compared to analysts' expectations of $2.63 billion. Quest Diagnostics had a return on equity of 15.07% and a net margin of 8.80%. On average, equities research analysts expect that Quest Diagnostics Incorporated will post 9.7 EPS for the current 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 issued a $0.80 dividend. The ex-dividend date is Monday, July 7th. This represents a $3.20 dividend on an annualized basis and a yield of 1.86%. Quest Diagnostics's payout ratio is currently 40.46%.

Insider Buying and Selling

In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 528 shares of the company's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $172.61, for a total value of $91,138.08. Following the transaction, the senior vice president now directly owns 39,031 shares in the company, valued at $6,737,140.91. This represents a 1.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Catherine T. Doherty sold 824 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $172.61, for a total value of $142,230.64. Following the transaction, the executive vice president now owns 69,178 shares in the company, valued at $11,940,814.58. This trade represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 53,985 shares of company stock worth $9,147,802. 8.16% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on DGX shares. Citigroup cut shares of Quest Diagnostics from a "buy" rating to a "neutral" rating and set a $185.00 price objective for the company. in a research report on Tuesday, March 4th. JPMorgan Chase & Co. lifted their target price on shares of Quest Diagnostics from $180.00 to $190.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Evercore ISI boosted their price objective on shares of Quest Diagnostics from $175.00 to $180.00 and gave the company an "in-line" rating in a research note on Wednesday, April 23rd. Barclays boosted their target price on shares of Quest Diagnostics from $175.00 to $185.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 23rd. Finally, Piper Sandler boosted their price objective 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 analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $185.73.

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.