Quest Diagnostics (NYSE:DGX) Trading 1.4% Higher – Here’s What Happened

Quest Diagnostics Incorporated (NYSE:DGX) traded up 1.4% on Friday . The company traded as high as $172.96 and last traded at $173.06. 375,428 shares changed hands during trading, a decline of 59% from the average session volume of 915,253 shares. The stock had previously closed at $170.63.

Analyst Ratings Changes

DGX has been the topic of a number of recent research reports. Leerink Partnrs upgraded shares of Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. JPMorgan Chase & Co. lifted 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. StockNews.com downgraded Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Leerink Partners raised shares of Quest Diagnostics from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $169.00 to $174.00 in a research note on Monday, January 6th. Finally, 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. Eight investment 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 stock. Based on data from MarketBeat.com, Quest Diagnostics presently has an average rating of “Moderate Buy” and a consensus price target of $179.57.

Quest Diagnostics Stock Performance

The business has a 50 day moving average price of $168.21 and a 200 day moving average price of $159.52. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.10 and a quick ratio of 1.02. The stock has a market capitalization of $18.21 billion, a PE ratio of 21.34, a PEG ratio of 2.16 and a beta of 0.78.

Quest Diagnostics (NYSE:DGX) last issued its earnings results on Thursday, January 30th. The medical research company reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.19 by $0.04. Quest Diagnostics had a net margin of 8.80% and a return on equity of 15.07%. As a group, equities research analysts expect that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current 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 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%.

Insider Buying and Selling

In other Quest Diagnostics news, CEO J. E. Davis sold 39,191 shares of Quest Diagnostics stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $168.46, for a total value of $6,602,115.86. Following the completion of the sale, the chief executive officer now owns 127,623 shares of the company’s stock, valued at approximately $21,499,370.58. The trade was a 23.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Mark E. Delaney sold 403 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $164.30, for a total transaction of $66,212.90. Following the sale, the senior vice president now owns 4,624 shares of the company’s stock, valued at approximately $759,723.20. This represents a 8.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,903 shares of company stock worth $9,460,221. 0.79% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Quest Diagnostics

Several hedge funds and other institutional investors have recently made changes to their positions in DGX. Sierra Ocean LLC purchased a new stake in Quest Diagnostics during the fourth quarter valued at approximately $33,000. Versant Capital Management Inc raised its holdings in Quest Diagnostics by 340.4% in the 4th 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 period. First Financial Corp IN purchased a new position in Quest Diagnostics during the fourth quarter valued at $38,000. FPC Investment Advisory Inc. bought a new stake in Quest Diagnostics during the fourth quarter valued at about $45,000. Finally, Global Trust Asset Management LLC purchased a new stake in Quest Diagnostics in the fourth quarter worth about $49,000. Hedge funds and other institutional investors 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.