Wedge Capital Management L L P NC Sells 10,034 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

Wedge Capital Management L L P NC lowered its position in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 4.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 239,950 shares of the medical research company's stock after selling 10,034 shares during the quarter. Wedge Capital Management L L P NC owned about 0.21% of Quest Diagnostics worth $33,084,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its holdings in shares of Quest Diagnostics by 36.8% in the third quarter. JPMorgan Chase & Co. now owns 2,001,347 shares of the medical research company's stock valued at $243,884,000 after acquiring an additional 538,377 shares in the last quarter. American Century Companies Inc. boosted its holdings in Quest Diagnostics by 12.3% during the third quarter. American Century Companies Inc. now owns 3,554,517 shares of the medical research company's stock worth $433,153,000 after buying an additional 388,162 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Quest Diagnostics by 14.6% during the third quarter. Wellington Management Group LLP now owns 2,613,793 shares of the medical research company's stock worth $318,517,000 after buying an additional 333,947 shares in the last quarter. Pathstone Family Office LLC boosted its holdings in Quest Diagnostics by 2,400.9% during the third quarter. Pathstone Family Office LLC now owns 336,521 shares of the medical research company's stock worth $41,008,000 after buying an additional 323,065 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc bought a new stake in Quest Diagnostics during the fourth quarter worth approximately $30,869,000. Institutional investors and hedge funds own 88.06% of the company's stock.

Quest Diagnostics Stock Performance

DGX traded up $1.65 during trading on Monday, hitting $130.09. The stock had a trading volume of 1,693,434 shares, compared to its average volume of 1,044,495. The firm has a market cap of $14.45 billion, a PE ratio of 17.37, a P/E/G ratio of 2.77 and a beta of 0.91. Quest Diagnostics Incorporated has a 12 month low of $119.59 and a 12 month high of $148.62. 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 company has a 50 day simple moving average of $128.32 and a 200-day simple moving average of $130.95.

Quest Diagnostics (NYSE:DGX - Get Free Report) last announced its earnings results on Thursday, February 1st. The medical research company reported $2.15 EPS for the quarter, topping the consensus estimate of $2.11 by $0.04. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.25 billion. Quest Diagnostics had a net margin of 9.23% and a return on equity of 15.79%. The business's quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.98 EPS. Analysts expect 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. Shareholders of record on Monday, April 8th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.31%. This is a positive change from Quest Diagnostics's previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Friday, April 5th. Quest Diagnostics's dividend payout ratio (DPR) is currently 37.92%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Leerink Partnrs restated a "market perform" rating on shares of Quest Diagnostics in a report on Monday, February 26th. Barclays started coverage on shares of Quest Diagnostics in a research note on Wednesday, January 3rd. They issued an "equal weight" rating and a $145.00 price objective for the company. SVB Leerink started coverage on shares of Quest Diagnostics in a research report on Monday, February 26th. They issued a "market perform" rating and a $135.00 target price for the company. TheStreet downgraded shares of Quest Diagnostics from a "b-" rating to a "c" rating in a research report on Monday, February 5th. Finally, Truist Financial reiterated a "hold" rating and issued a $145.00 target price on shares of Quest Diagnostics in a research report on Wednesday, March 20th. Ten equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $144.18.

Insiders Place Their Bets

In other Quest Diagnostics news, Director Vicky B. Gregg sold 2,500 shares of the firm's stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $126.64, for a total value of $316,600.00. Following the sale, the director now directly owns 16,329 shares in the company, valued at approximately $2,067,904.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Quest Diagnostics news, EVP Catherine T. Doherty sold 821 shares of the firm's stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $126.14, for a total value of $103,560.94. Following the sale, the executive vice president now directly owns 70,800 shares in the company, valued at approximately $8,930,712. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Vicky B. Gregg sold 2,500 shares of the firm's stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $126.64, for a total transaction of $316,600.00. Following the completion of the sale, the director now owns 16,329 shares in the company, valued at $2,067,904.56. The disclosure for this sale can be found here. Insiders have sold 15,150 shares of company stock worth $1,913,202 in the last ninety days. Insiders own 0.79% of the company's stock.

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.