Michael E. Prevoznik Sells 604 Shares of Quest Diagnostics Incorporated (NYSE:DGX) Stock

Quest Diagnostics Incorporated (NYSE:DGX) SVP Michael E. Prevoznik sold 604 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $170.99, for a total value of $103,277.96. Following the sale, the senior vice president now directly owns 39,845 shares of the company’s stock, valued at approximately $6,813,096.55. This represents a 1.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Quest Diagnostics Stock Performance

NYSE DGX opened at $172.44 on Monday. Quest Diagnostics Incorporated has a 1-year low of $123.66 and a 1-year high of $172.91. The company has a market capitalization of $19.25 billion, a P/E ratio of 22.42, a PEG ratio of 2.16 and a beta of 0.91. The business has a 50 day moving average price of $157.56 and a 200 day moving average price of $156.00. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.10 and a quick ratio of 1.02.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings data on Thursday, January 30th. The medical research company reported $2.23 earnings per share for the quarter, beating the consensus estimate of $2.19 by $0.04. Quest Diagnostics had a return on equity of 15.07% and a net margin of 8.80%. Sell-side analysts expect that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.86%. 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. Quest Diagnostics’s dividend payout ratio is 39.01%.

Analyst Upgrades and Downgrades

DGX has been the subject of several analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $185.00 price objective (up from $175.00) on shares of Quest Diagnostics in a research note on Tuesday, December 10th. Mizuho upped their price objective on Quest Diagnostics from $177.00 to $178.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Piper Sandler reaffirmed a “neutral” rating and set a $180.00 price objective (up from $165.00) on shares of Quest Diagnostics in a research note on Monday, February 3rd. Barclays upped their price objective on Quest Diagnostics from $168.00 to $175.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Finally, Leerink Partners raised Quest Diagnostics from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $169.00 to $174.00 in a research note on Monday, January 6th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Quest Diagnostics presently has a consensus rating of “Moderate Buy” and a consensus price target of $178.23.

Institutional Investors Weigh In On Quest Diagnostics

Large investors have recently bought and sold shares of the stock. Sierra Ocean LLC acquired a new stake in Quest Diagnostics during the 4th quarter valued at $33,000. Versant Capital Management Inc grew its holdings in Quest Diagnostics by 340.4% during the 4th quarter. Versant Capital Management Inc now owns 251 shares of the medical research company’s stock valued at $38,000 after buying an additional 194 shares during the last quarter. First Financial Corp IN acquired a new stake in Quest Diagnostics during the 4th quarter valued at $38,000. FPC Investment Advisory Inc. acquired a new stake in Quest Diagnostics during the 4th quarter valued at $45,000. Finally, Global Trust Asset Management LLC acquired a new stake in Quest Diagnostics during the 4th quarter valued at $49,000. Institutional investors and hedge funds own 88.06% of the company’s stock.

Quest Diagnostics Company 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.