Quest Diagnostics Incorporated (NYSE:DGX) CEO J. E. Davis Sells 39,191 Shares

Quest Diagnostics Incorporated (NYSE:DGX) CEO J. E. Davis sold 39,191 shares of the business’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $168.46, for a total transaction of $6,602,115.86. Following the transaction, the chief executive officer now directly owns 127,623 shares in the company, valued at approximately $21,499,370.58. The trade was a 23.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Quest Diagnostics Stock Down 3.8 %

Shares of Quest Diagnostics stock opened at $164.08 on Friday. The company has a 50-day simple moving average of $168.21 and a two-hundred day simple moving average of $159.52. The stock has a market capitalization of $18.21 billion, a PE ratio of 21.34, a price-to-earnings-growth ratio of 2.16 and a beta of 0.78. Quest Diagnostics Incorporated has a 52-week low of $125.42 and a 52-week high of $178.87. 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 (NYSE:DGX) last announced its quarterly earnings data on Thursday, January 30th. The medical research company reported $2.23 earnings per share for the quarter, topping analysts’ consensus estimates of $2.19 by $0.04. Quest Diagnostics had a net margin of 8.80% and a return on equity of 15.07%. On average, analysts anticipate that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, April 7th. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a dividend yield of 1.95%. Quest Diagnostics’s dividend payout ratio (DPR) is 41.61%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Barclays lifted their target price on shares of Quest Diagnostics from $168.00 to $175.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. UBS Group lifted their price objective on Quest Diagnostics from $166.00 to $170.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Mizuho increased their target price on Quest Diagnostics from $177.00 to $178.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Redburn Atlantic began coverage on Quest Diagnostics in a research report on Wednesday. They set a “buy” rating and a $195.00 price target on the stock. Finally, Bank of America increased their price objective on Quest Diagnostics from $179.00 to $182.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $179.57.

Hedge Funds Weigh In On Quest Diagnostics

Hedge funds have recently bought and sold shares of the business. Sierra Ocean LLC purchased a new stake in shares of Quest Diagnostics during the 4th quarter valued at about $33,000. Versant Capital Management Inc boosted its holdings in Quest Diagnostics by 340.4% in the fourth quarter. Versant Capital Management Inc now owns 251 shares of the medical research company’s stock worth $38,000 after purchasing an additional 194 shares during the last quarter. First Financial Corp IN bought a new stake in Quest Diagnostics in the 4th quarter worth approximately $38,000. FPC Investment Advisory Inc. purchased a new stake in Quest Diagnostics during the 4th quarter valued at $45,000. Finally, Global Trust Asset Management LLC bought a new position in shares of Quest Diagnostics during the 4th quarter valued at $49,000. Hedge funds and other institutional investors own 88.06% 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.