Quest Diagnostics Incorporated (NYSE:DGX) Shares Sold by SVB Wealth LLC

SVB Wealth LLC lowered its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 24.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 91,155 shares of the medical research company's stock after selling 29,087 shares during the quarter. SVB Wealth LLC owned approximately 0.08% of Quest Diagnostics worth $12,568,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Strs Ohio grew its position in shares of Quest Diagnostics by 7.6% in the fourth quarter. Strs Ohio now owns 16,270 shares of the medical research company's stock valued at $2,243,000 after purchasing an additional 1,150 shares during the period. Lecap Asset Management Ltd. acquired a new stake in Quest Diagnostics in the 4th quarter worth about $985,000. Louisiana State Employees Retirement System purchased a new stake in Quest Diagnostics during the 4th quarter worth approximately $938,000. Aquila Investment Management LLC acquired a new position in shares of Quest Diagnostics during the fourth quarter valued at approximately $1,103,000. Finally, Simplicity Solutions LLC lifted its position in shares of Quest Diagnostics by 13.2% in the fourth quarter. Simplicity Solutions LLC now owns 2,091 shares of the medical research company's stock valued at $288,000 after acquiring an additional 244 shares in the last quarter. Hedge funds and other institutional investors own 88.06% of the company's stock.

Quest Diagnostics Trading Down 1.0 %

Quest Diagnostics stock traded down $1.23 during mid-day trading on Tuesday, hitting $127.41. The company's stock had a trading volume of 692,266 shares, compared to its average volume of 1,033,069. The stock's fifty day moving average is $128.31 and its two-hundred day moving average is $130.78. The company has a current ratio of 1.31, a quick ratio of 1.20 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $14.15 billion, a PE ratio of 17.01, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. Quest Diagnostics Incorporated has a 1 year low of $119.59 and a 1 year high of $148.62.

Quest Diagnostics (NYSE:DGX - Get Free Report) last released its quarterly earnings results on Thursday, February 1st. The medical research company reported $2.15 earnings per share for the quarter, topping analysts' consensus estimates of $2.11 by $0.04. The business had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.25 billion. Quest Diagnostics had a return on equity of 15.79% and a net margin of 9.23%. The company's revenue was down 1.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.98 EPS. On average, analysts anticipate that Quest Diagnostics Incorporated will post 8.75 EPS for the current year.

Quest Diagnostics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 22nd. Stockholders of record on Monday, April 8th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.35%. This is an increase from Quest Diagnostics's previous quarterly dividend of $0.71. The ex-dividend date is Friday, April 5th. Quest Diagnostics's payout ratio is 37.92%.

Insider Buying and Selling

In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 661 shares of the business's stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $126.14, for a total value of $83,378.54. Following the sale, the senior vice president now owns 40,206 shares of the company's stock, valued at $5,071,584.84. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, SVP Michael E. Prevoznik sold 5,611 shares of the firm's stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $125.88, for a total value of $706,312.68. Following the completion of the transaction, the senior vice president now owns 38,478 shares of the company's stock, valued at $4,843,610.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Michael E. Prevoznik sold 661 shares of Quest Diagnostics stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $126.14, for a total transaction of $83,378.54. Following the completion of the transaction, the senior vice president now owns 40,206 shares of the company's stock, valued at approximately $5,071,584.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,150 shares of company stock valued at $1,913,202. Company insiders own 0.79% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on DGX shares. Truist Financial reiterated a "hold" rating and set a $145.00 price target on shares of Quest Diagnostics in a research report on Wednesday, March 20th. Jefferies Financial Group raised shares of Quest Diagnostics from a "hold" rating to a "buy" rating and raised their price target for the stock from $140.00 to $155.00 in a research note on Wednesday, February 7th. TheStreet lowered shares of Quest Diagnostics from a "b-" rating to a "c" rating in a research report on Monday, February 5th. StockNews.com upgraded shares of Quest Diagnostics from a "hold" rating to a "buy" rating in a report on Tuesday, April 9th. Finally, SVB Leerink assumed coverage on Quest Diagnostics in a report on Monday, February 26th. They set a "market perform" rating and a $135.00 target price on the stock. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $144.18.

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.