J. E. Davis Sells 63,880 Shares of Quest Diagnostics Inc (DGX) Stock
Quest Diagnostics Inc (NYSE:DGX) EVP J. E. Davis sold 63,880 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $98.68, for a total value of $6,303,678.40. Following the sale, the executive vice president now owns 101,423 shares in the company, valued at approximately $10,008,421.64. The sale was disclosed in a filing with the SEC, which is available through this link.
Shares of Quest Diagnostics Inc (NYSE:DGX) traded down $0.17 during trading hours on Thursday, reaching $99.08. The company’s stock had a trading volume of 933,452 shares, compared to its average volume of 887,767. The company has a market capitalization of $13,500.00, a price-to-earnings ratio of 20.64, a P/E/G ratio of 2.03 and a beta of 0.60. The company has a current ratio of 1.47, a quick ratio of 1.37 and a debt-to-equity ratio of 0.78. Quest Diagnostics Inc has a 1-year low of $90.10 and a 1-year high of $112.96.
Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings results on Thursday, October 19th. The medical research company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.04. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.92 billion. Quest Diagnostics had a return on equity of 15.53% and a net margin of 8.82%. The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.37 earnings per share. equities research analysts expect that Quest Diagnostics Inc will post 5.65 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Tuesday, January 9th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend is Monday, January 8th. Quest Diagnostics’s dividend payout ratio (DPR) is presently 37.50%.
DGX has been the topic of several research analyst reports. Canaccord Genuity restated a “buy” rating and set a $118.00 target price on shares of Quest Diagnostics in a research report on Wednesday, September 13th. Raymond James Financial restated a “market perform” rating on shares of Quest Diagnostics in a research report on Monday, September 25th. ValuEngine lowered Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Credit Suisse Group cut their target price on Quest Diagnostics from $110.00 to $99.00 and set a “neutral” rating on the stock in a research report on Thursday, September 28th. Finally, Zacks Investment Research lowered Quest Diagnostics from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $106.20.
Institutional investors have recently modified their holdings of the company. WFG Advisors LP raised its stake in shares of Quest Diagnostics by 45.3% in the second quarter. WFG Advisors LP now owns 966 shares of the medical research company’s stock worth $107,000 after purchasing an additional 301 shares during the last quarter. Sun Life Financial INC raised its stake in shares of Quest Diagnostics by 14,142.9% in the second quarter. Sun Life Financial INC now owns 997 shares of the medical research company’s stock worth $111,000 after purchasing an additional 990 shares during the last quarter. Acrospire Investment Management LLC raised its stake in shares of Quest Diagnostics by 300.0% in the second quarter. Acrospire Investment Management LLC now owns 1,600 shares of the medical research company’s stock worth $178,000 after purchasing an additional 1,200 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Quest Diagnostics in the second quarter worth approximately $180,000. Finally, Parametrica Management Ltd purchased a new stake in shares of Quest Diagnostics in the third quarter worth approximately $206,000. 88.84% of the stock is owned by hedge funds and other institutional investors.
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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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