Quest Diagnostics (NYSE:DGX) EVP Catherine Doherty Sells 22,105 Shares of Stock

Key Points

• Quest Diagnostics EVP Catherine Doherty sold 22,105 shares for about $5.48 million at an average price of $248.02 under a pre-arranged Rule 10b5-1 plan. She retained 71,949 shares after reducing her stake by 23.5%.
• Quest reported quarterly earnings of $3.00 per share, beating estimates of $2.87, while revenue rose 10% year over year to $3.10 billion.
• The company’s quarterly dividend is $0.86 per share, equivalent to $3.44 annually and a 1.4% yield. Analysts’ average rating is “Moderate Buy,” with an average price target of $248.70.

Quest Diagnostics Incorporated (NYSE:DGX - Get Free Report) EVP Catherine Doherty sold 22,105 shares of the firm's stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $248.02, for a total value of $5,482,482.10. Following the sale, the executive vice president owned 71,949 shares of the company's stock, valued at $17,844,790.98. The trade was a 23.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Quest Diagnostics Stock Down 0.5%

Shares of DGX traded down $1.15 during trading hours on Thursday, reaching $254.53. The company's stock had a trading volume of 969,133 shares, compared to its average volume of 1,002,252. The company has a 50 day moving average of $239.12 and a two-hundred day moving average of $213.35. The company has a quick ratio of 1.58, a current ratio of 1.70 and a debt-to-equity ratio of 0.70. The firm has a market cap of $28.00 billion, a price-to-earnings ratio of 23.16, a P/E/G ratio of 2.29 and a beta of 0.55. Quest Diagnostics Incorporated has a 1-year low of $171.18 and a 1-year high of $259.00.

Quest Diagnostics (NYSE:DGX - Get Free Report) last released its quarterly earnings data on Thursday, October 22nd. The medical research company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.87 by $0.13. Quest Diagnostics had a net margin of 9.53% and a return on equity of 16.21%. The firm had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same quarter in the prior year, the business earned $2.60 EPS. The company's revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, research analysts predict that Quest Diagnostics Incorporated will post 11.29 EPS for the current fiscal year.

Quest Diagnostics Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 21st. Stockholders of record on Tuesday, October 6th were paid a $0.86 dividend. The ex-dividend date of this dividend was Tuesday, October 6th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.4%. Quest Diagnostics's dividend payout ratio is 34.26%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Maryland State Retirement & Pension System boosted its holdings in Quest Diagnostics by 19.0% in the third quarter. Maryland State Retirement & Pension System now owns 6,870 shares of the medical research company's stock worth $1,601,000 after purchasing an additional 1,096 shares in the last quarter. Jacobi Capital Management LLC bought a new position in Quest Diagnostics during the third quarter valued at about $211,000. First Command Advisory Services Inc. raised its holdings in Quest Diagnostics by 352.4% during the third quarter. First Command Advisory Services Inc. now owns 1,054 shares of the medical research company's stock valued at $246,000 after buying an additional 821 shares in the last quarter. Confluence Wealth Services Inc. raised its holdings in Quest Diagnostics by 72.6% during the third quarter. Confluence Wealth Services Inc. now owns 2,056 shares of the medical research company's stock valued at $479,000 after buying an additional 865 shares in the last quarter. Finally, Lido Advisors LLC acquired a new stake in shares of Quest Diagnostics in the third quarter worth about $712,000. Institutional investors own 88.06% of the company's stock.

Wall Street Analysts Forecast Growth

DGX has been the subject of a number of research reports. UBS Group reissued a "neutral" rating and set a $250.00 price objective on shares of Quest Diagnostics in a research report on Monday, October 19th. Truist Financial raised their price target on Quest Diagnostics from $250.00 to $260.00 and gave the stock a "hold" rating in a research note on Monday, September 21st. Weiss Ratings upgraded Quest Diagnostics from a "buy (a)" rating to a "buy (a+)" rating in a report on Wednesday, October 21st. Jefferies Financial Group reissued a "buy" rating and issued a $245.00 price target on shares of Quest Diagnostics in a research note on Thursday, July 23rd. Finally, JPMorgan Chase & Co. boosted their price target on Quest Diagnostics from $220.00 to $250.00 and gave the company a "neutral" rating in a research note on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $248.70.

About Quest Diagnostics

Quest Diagnostics Incorporated NYSE: DGX is a provider of diagnostic information services. The company performs laboratory testing that helps physicians, hospitals and other healthcare providers diagnose, treat and monitor diseases and health conditions. Its services include routine blood and other specimen testing, pathology, molecular and genetic testing, and specialized diagnostic services.

Quest Diagnostics serves a broad range of customers, including hospitals, physician practices, health plans, employers, government agencies and individual consumers.

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