Quest Diagnostics Incorporated (NYSE:DGX) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 49.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 74,005 shares of the medical research company’s stock after selling 73,036 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Quest Diagnostics were worth $10,204,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Healthcare of Ontario Pension Plan Trust Fund grew its position in Quest Diagnostics by 8.7% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,921 shares of the medical research company’s stock worth $947,000 after purchasing an additional 556 shares during the last quarter. Panagora Asset Management Inc. grew its position in Quest Diagnostics by 97.5% in the 1st quarter. Panagora Asset Management Inc. now owns 7,878 shares of the medical research company’s stock valued at $1,078,000 after buying an additional 3,889 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Quest Diagnostics by 3.4% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,923 shares of the medical research company’s stock valued at $2,179,000 after buying an additional 525 shares during the period. Sei Investments Co. raised its position in shares of Quest Diagnostics by 21.9% during the 1st quarter. Sei Investments Co. now owns 191,048 shares of the medical research company’s stock worth $26,165,000 after buying an additional 34,364 shares in the last quarter. Finally, Aviva PLC lifted its stake in shares of Quest Diagnostics by 22.1% in the 1st quarter. Aviva PLC now owns 68,068 shares of the medical research company’s stock worth $9,316,000 after acquiring an additional 12,298 shares during the period. Institutional investors and hedge funds own 88.06% of the company’s stock.

Insider Transactions at Quest Diagnostics

In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 5,611 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $125.88, for a total value of $706,312.68. Following the transaction, the senior vice president now owns 38,478 shares in the company, valued at $4,843,610.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Catherine T. Doherty sold 5,557 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $126.57, for a total value of $703,349.49. Following the completion of the sale, the executive vice president now directly owns 69,599 shares in the company, valued at $8,809,145.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michael E. Prevoznik sold 5,611 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $125.88, for a total value of $706,312.68. Following the transaction, the senior vice president now owns 38,478 shares in the company, valued at $4,843,610.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,150 shares of company stock valued at $1,913,202. 0.79% of the stock is owned by insiders.

Quest Diagnostics Stock Up 2.0 %

NYSE:DGX opened at $128.44 on Friday. Quest Diagnostics Incorporated has a 1-year low of $119.59 and a 1-year high of $148.62. The firm has a market capitalization of $14.26 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 2.74 and a beta of 0.91. The company has a current ratio of 1.31, a quick ratio of 1.20 and a debt-to-equity ratio of 0.70. The business’s fifty day moving average price is $128.32 and its 200 day moving average price is $130.77.

Quest Diagnostics (NYSE:DGX) last issued its earnings results on Thursday, February 1st. The medical research company reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.11 by $0.04. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.25 billion. Quest Diagnostics had a return on equity of 15.79% and a net margin of 9.23%. The firm’s quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.98 EPS. On average, sell-side analysts forecast that Quest Diagnostics Incorporated will post 8.75 earnings per share for the current fiscal year.

Quest Diagnostics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 22nd. Stockholders of record on Monday, April 8th will be issued a dividend of $0.75 per share. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.71. This represents a $3.00 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Friday, April 5th. Quest Diagnostics’s payout ratio is currently 37.92%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on DGX. Barclays started coverage on shares of Quest Diagnostics in a research note on Wednesday, January 3rd. They set an “equal weight” rating and a $145.00 price objective on the stock. Jefferies Financial Group upgraded Quest Diagnostics from a “hold” rating to a “buy” rating and lifted their price target for the company from $140.00 to $155.00 in a research report on Wednesday, February 7th. TheStreet downgraded shares of Quest Diagnostics from a “b-” rating to a “c” rating in a report on Monday, February 5th. Truist Financial reiterated a “hold” rating and issued a $145.00 target price on shares of Quest Diagnostics in a report on Wednesday, March 20th. Finally, Leerink Partnrs restated a “market perform” rating on shares of Quest Diagnostics in a report on Monday, February 26th. Ten investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $144.18.

Quest Diagnostics 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.