Quest Diagnostics Incorporated (NYSE:DGX) Shares Sold by AMF Tjanstepension AB

AMF Tjanstepension AB lowered its stake in Quest Diagnostics Incorporated (NYSE:DGX) by 51.6% during the fourth quarter, HoldingsChannel reports. The firm owned 45,105 shares of the medical research company’s stock after selling 47,994 shares during the quarter. AMF Tjanstepension AB’s holdings in Quest Diagnostics were worth $6,815,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Sierra Ocean LLC acquired a new position in shares of Quest Diagnostics in the fourth quarter valued at approximately $33,000. Versant Capital Management Inc grew its holdings in Quest Diagnostics by 340.4% during the fourth quarter. Versant Capital Management Inc now owns 251 shares of the medical research company’s stock worth $38,000 after acquiring an additional 194 shares during the period. First Financial Corp IN acquired a new position in Quest Diagnostics during the fourth quarter worth $38,000. FPC Investment Advisory Inc. acquired a new position in Quest Diagnostics during the fourth quarter worth $45,000. Finally, Global Trust Asset Management LLC acquired a new position in Quest Diagnostics during the fourth quarter worth $49,000. Institutional investors and hedge funds own 88.06% of the company’s stock.

Insider Activity

In related news, EVP Catherine T. Doherty sold 535 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $169.71, for a total transaction of $90,794.85. Following the transaction, the executive vice president now directly owns 71,356 shares in the company, valued at approximately $12,109,826.76. This represents a 0.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Mark E. Delaney sold 403 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $164.30, for a total value of $66,212.90. Following the transaction, the senior vice president now owns 4,624 shares in the company, valued at $759,723.20. This trade represents a 8.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,514 shares of company stock worth $1,634,445 over the last three months. 0.79% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on DGX shares. JPMorgan Chase & Co. upped their price objective on Quest Diagnostics from $173.00 to $180.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Jefferies Financial Group reaffirmed a “buy” rating and set a $185.00 price objective (up previously from $175.00) on shares of Quest Diagnostics in a report on Tuesday, December 10th. Morgan Stanley raised Quest Diagnostics from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $145.00 to $172.00 in a report on Tuesday, December 17th. Bank of America upped 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. Finally, Truist Financial upped their price objective on Quest Diagnostics from $172.00 to $182.00 and gave the stock a “hold” rating in a report on Friday, January 31st. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $178.23.

Quest Diagnostics Stock Up 2.2 %

Shares of NYSE:DGX opened at $175.49 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.82. Quest Diagnostics Incorporated has a 52-week low of $125.09 and a 52-week high of $178.09. The stock’s fifty day simple moving average is $161.74 and its 200-day simple moving average is $157.60. The company has a market capitalization of $19.48 billion, a P/E ratio of 22.82, a P/E/G ratio of 2.16 and a beta of 0.92.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings data on Thursday, January 30th. The medical research company reported $2.23 earnings per share (EPS) 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%. As a group, equities research analysts forecast that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal year.

Quest Diagnostics Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be given a $0.80 dividend. This is an increase from Quest Diagnostics’s previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Monday, April 7th. Quest Diagnostics’s dividend payout ratio is currently 41.61%.

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.