Insider Selling: Quest Diagnostics Incorporated (DGX) Director Sells 3,803 Shares of Stock
Quest Diagnostics Incorporated (NYSE:DGX) Director Daniel Stanzione sold 3,803 shares of Quest Diagnostics stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $108.01, for a total value of $410,762.03. Following the completion of the sale, the director now owns 35,359 shares in the company, valued at $3,819,125.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Shares of Quest Diagnostics Incorporated (DGX) traded up 0.03% during mid-day trading on Thursday, hitting $107.29. The stock had a trading volume of 552,436 shares. The company has a 50 day moving average price of $107.38 and a 200 day moving average price of $104.85. The firm has a market cap of $14.63 billion, a P/E ratio of 21.62 and a beta of 0.69. Quest Diagnostics Incorporated has a 12-month low of $79.12 and a 12-month high of $112.97.
Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Tuesday, July 25th. The medical research company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.13. Quest Diagnostics had a return on equity of 15.66% and a net margin of 9.28%. The company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same period last year, the firm earned $1.34 EPS. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. Equities analysts forecast that Quest Diagnostics Incorporated will post $5.69 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 18th. Stockholders of record on Tuesday, October 3rd will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend is Monday, October 2nd. Quest Diagnostics’s dividend payout ratio is presently 36.29%.
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A number of analysts recently weighed in on DGX shares. Mizuho lifted their price target on Quest Diagnostics from $115.00 to $122.00 and gave the company a “buy” rating in a research note on Monday, June 5th. ValuEngine upgraded Quest Diagnostics from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Zacks Investment Research upgraded Quest Diagnostics from a “hold” rating to a “buy” rating and set a $119.00 price target on the stock in a research note on Tuesday, May 23rd. UBS AG lifted their price target on Quest Diagnostics from $115.00 to $123.00 and gave the company a “buy” rating in a research note on Thursday, July 6th. Finally, Canaccord Genuity restated a “buy” rating and issued a $118.00 price target on shares of Quest Diagnostics in a research note on Tuesday, June 13th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $109.62.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. WFG Advisors LP boosted its stake in shares of Quest Diagnostics by 45.3% during the 2nd quarter. WFG Advisors LP now owns 966 shares of the medical research company’s stock worth $107,000 after acquiring an additional 301 shares in the last quarter. Sun Life Financial INC boosted its stake in shares of Quest Diagnostics by 14,142.9% during the 2nd quarter. Sun Life Financial INC now owns 997 shares of the medical research company’s stock worth $111,000 after acquiring an additional 990 shares in the last quarter. YorkBridge Wealth Partners LLC boosted its stake in shares of Quest Diagnostics by 1.5% during the 1st quarter. YorkBridge Wealth Partners LLC now owns 1,188 shares of the medical research company’s stock worth $127,000 after acquiring an additional 18 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Quest Diagnostics by 16.1% during the 1st quarter. Parallel Advisors LLC now owns 1,279 shares of the medical research company’s stock worth $137,000 after acquiring an additional 177 shares in the last quarter. Finally, Acrospire Investment Management LLC boosted its stake in shares of Quest Diagnostics by 300.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,600 shares of the medical research company’s stock worth $178,000 after acquiring an additional 1,200 shares in the last quarter. 87.07% of the stock is owned by institutional investors and hedge funds.
Quest Diagnostics Company Profile
Quest Diagnostics Incorporated is a provider of diagnostic information services. The Company operates through two businesses: Diagnostic Information Services and Diagnostic Solutions. The Diagnostic Information Services business develops and delivers diagnostic testing information and services, providing insights that empower and enable a range of customers, including patients, clinicians, hospitals, integrated delivery networks (IDNs), health plans, employers and accountable care organizations (ACOs).
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