Quest Diagnostics Incorporated (NYSE:DGX) Shares Sold by Focus Partners Wealth

Focus Partners Wealth cut its stake in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 37.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,511 shares of the medical research company's stock after selling 13,707 shares during the quarter. Focus Partners Wealth's holdings in Quest Diagnostics were worth $3,396,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Sierra Ocean LLC bought a new stake in Quest Diagnostics during the fourth quarter valued at approximately $33,000. FPC Investment Advisory Inc. bought a new stake in Quest Diagnostics during the fourth quarter valued at approximately $45,000. Global Trust Asset Management LLC bought a new stake in Quest Diagnostics during the fourth quarter valued at approximately $49,000. SBI Securities Co. Ltd. bought a new stake in Quest Diagnostics during the fourth quarter valued at approximately $54,000. Finally, Sandy Spring Bank grew its position in Quest Diagnostics by 142.5% during the fourth quarter. Sandy Spring Bank now owns 485 shares of the medical research company's stock valued at $73,000 after buying an additional 285 shares during the period. 88.06% of the stock is currently owned by institutional investors.

Quest Diagnostics Stock Performance

Shares of DGX stock traded up $0.09 during mid-day trading on Monday, hitting $178.06. 772,963 shares of the stock were exchanged, compared to its average volume of 984,358. The stock's fifty day simple moving average is $170.04 and its two-hundred day simple moving average is $163.66. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.02 and a current ratio of 1.10. Quest Diagnostics Incorporated has a 12-month low of $135.47 and a 12-month high of $179.32. The stock has a market capitalization of $19.88 billion, a price-to-earnings ratio of 23.15, a P/E/G ratio of 2.16 and a beta of 0.52.

Quest Diagnostics (NYSE:DGX - Get Free Report) last released its quarterly 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. Quest Diagnostics had a return on equity of 15.07% and a net margin of 8.80%. The firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.63 billion. On average, analysts forecast that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, July 7th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, July 7th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.80%. Quest Diagnostics's dividend payout ratio (DPR) is 40.46%.

Analyst Ratings Changes

Several brokerages recently issued reports on DGX. JPMorgan Chase & Co. boosted their target price on shares of Quest Diagnostics from $180.00 to $190.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Robert W. Baird boosted their target price on shares of Quest Diagnostics from $191.00 to $194.00 and gave the company an "outperform" rating in a research report on Wednesday, April 23rd. UBS Group boosted their target price on shares of Quest Diagnostics from $166.00 to $170.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Mizuho upped their price target on shares of Quest Diagnostics from $178.00 to $189.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 9th. Finally, Truist Financial upped their price target on shares of Quest Diagnostics from $182.00 to $190.00 and gave the stock a "hold" rating in a research report on Wednesday, April 23rd. 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 company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $185.73.

Insider Transactions at Quest Diagnostics

In other news, SVP Michael E. Prevoznik sold 528 shares of Quest Diagnostics stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $172.61, for a total transaction of $91,138.08. Following the completion of the transaction, the senior vice president now owns 39,031 shares of the company's stock, valued at $6,737,140.91. The trade was a 1.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Catherine T. Doherty sold 535 shares of the business's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $169.71, for a total transaction of $90,794.85. Following the completion of the transaction, the executive vice president now directly owns 71,356 shares of the company's stock, valued at $12,109,826.76. The trade was a 0.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,124 shares of company stock worth $9,341,875 over the last ninety days. 8.16% of the stock is currently owned by company insiders.

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.