First Citizens Bank & Trust Co. Trims Stock Position in Quest Diagnostics Incorporated (NYSE:DGX)


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First Citizens Bank & Trust Co. decreased its position in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 7.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 25,155 shares of the medical research company’s stock after selling 2,029 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Quest Diagnostics were worth $2,997,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hall Laurie J Trustee acquired a new stake in shares of Quest Diagnostics in the third quarter valued at approximately $34,000. Hudock Inc. purchased a new stake in shares of Quest Diagnostics in the third quarter valued at about $34,000. RMR Wealth Builders purchased a new stake in shares of Quest Diagnostics in the second quarter valued at about $35,000. Princeton Global Asset Management LLC grew its holdings in shares of Quest Diagnostics by 100.0% during the third quarter. Princeton Global Asset Management LLC now owns 320 shares of the medical research company’s stock worth $37,000 after buying an additional 160 shares during the last quarter. Finally, Planned Solutions Inc. acquired a new position in Quest Diagnostics in the 3rd quarter valued at about $45,000. Institutional investors and hedge funds own 78.87% of the company’s stock.

In other news, CEO Stephen H. Rusckowski sold 291,997 shares of Quest Diagnostics stock in a transaction dated Friday, October 16th. The stock was sold at an average price of $120.00, for a total value of $35,039,640.00. Following the transaction, the chief executive officer now directly owns 529,744 shares of the company’s stock, valued at approximately $63,569,280. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark Guinan sold 81,756 shares of the business’s stock in a transaction dated Thursday, December 24th. The stock was sold at an average price of $120.37, for a total value of $9,840,969.72. Following the sale, the chief financial officer now owns 155,335 shares of the company’s stock, valued at approximately $18,697,673.95. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 395,426 shares of company stock valued at $47,604,325. Insiders own 1.49% of the company’s stock.

A number of research firms recently commented on DGX. Zacks Investment Research raised shares of Quest Diagnostics from a “hold” rating to a “strong-buy” rating and set a $130.00 price objective on the stock in a report on Tuesday, September 22nd. Morgan Stanley downgraded Quest Diagnostics from an “overweight” rating to an “equal weight” rating in a research note on Thursday, December 17th. ValuEngine downgraded Quest Diagnostics from a “sell” rating to a “strong sell” rating in a research report on Wednesday, November 11th. Mizuho upped their target price on Quest Diagnostics from $144.00 to $149.00 and gave the company a “buy” rating in a report on Monday, October 26th. Finally, Argus upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating and set a $135.00 target price for the company in a report on Wednesday, October 21st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Quest Diagnostics presently has a consensus rating of “Hold” and a consensus price target of $126.83.

DGX opened at $125.45 on Thursday. Quest Diagnostics Incorporated has a 12 month low of $73.02 and a 12 month high of $131.81. The business has a 50-day moving average of $122.27 and a two-hundred day moving average of $119.90. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.40 and a quick ratio of 1.32. The stock has a market capitalization of $16.91 billion, a price-to-earnings ratio of 15.51, a price-to-earnings-growth ratio of 0.42 and a beta of 1.08.

Quest Diagnostics (NYSE:DGX) last released its earnings results on Thursday, October 22nd. The medical research company reported $4.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.75 by $0.56. Quest Diagnostics had a net margin of 13.22% and a return on equity of 19.23%. The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.71 billion. During the same period last year, the company earned $1.76 earnings per share. The company’s quarterly revenue was up 42.6% on a year-over-year basis. Equities research analysts anticipate that Quest Diagnostics Incorporated will post 10.97 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 3rd. Stockholders of record on Wednesday, January 20th will be paid a dividend of $0.56 per share. The ex-dividend date is Tuesday, January 19th. This represents a $2.24 annualized dividend and a dividend yield of 1.79%. Quest Diagnostics’s dividend payout ratio is presently 34.15%.

About Quest Diagnostics

Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic information services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.

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Institutional Ownership by Quarter for Quest Diagnostics (NYSE:DGX)

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