Quest Diagnostics Incorporated (NYSE:DGX) Stake Cut by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 7.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,621 shares of the medical research company’s stock after selling 1,346 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Quest Diagnostics were worth $2,658,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Cerity Partners LLC grew its position in Quest Diagnostics by 26.4% during the third quarter. Cerity Partners LLC now owns 38,735 shares of the medical research company’s stock valued at $6,014,000 after purchasing an additional 8,094 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Quest Diagnostics by 12.9% in the third quarter. Daiwa Securities Group Inc. now owns 13,692 shares of the medical research company’s stock worth $2,126,000 after acquiring an additional 1,569 shares during the last quarter. Independent Advisor Alliance raised its holdings in shares of Quest Diagnostics by 4.5% during the third quarter. Independent Advisor Alliance now owns 4,111 shares of the medical research company’s stock worth $638,000 after acquiring an additional 178 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Quest Diagnostics by 36.1% during the third quarter. The Manufacturers Life Insurance Company now owns 171,694 shares of the medical research company’s stock worth $26,655,000 after acquiring an additional 45,577 shares in the last quarter. Finally, Townsquare Capital LLC grew its stake in Quest Diagnostics by 5.8% in the third quarter. Townsquare Capital LLC now owns 1,659 shares of the medical research company’s stock valued at $258,000 after purchasing an additional 91 shares in the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Price Performance

NYSE DGX opened at $166.13 on Friday. The stock has a 50-day simple moving average of $166.32 and a 200 day simple moving average of $158.92. Quest Diagnostics Incorporated has a twelve month low of $125.42 and a twelve month high of $178.87. The stock has a market capitalization of $18.44 billion, a PE ratio of 21.60, a P/E/G ratio of 2.16 and a beta of 0.92. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.02 and a current ratio of 1.10.

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

Quest Diagnostics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.93%. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Monday, April 7th. Quest Diagnostics’s dividend payout ratio (DPR) is currently 41.61%.

Insider Transactions at Quest Diagnostics

In other news, SVP Mark E. Delaney sold 403 shares of Quest Diagnostics stock in a transaction that occurred on Wednesday, February 5th. The stock was 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 trade represents a 8.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Catherine T. Doherty sold 535 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $169.71, for a total value of $90,794.85. Following the sale, the executive vice president now owns 71,356 shares in the company, valued at approximately $12,109,826.76. This represents a 0.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,157 shares of company stock worth $2,423,755. 0.79% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on DGX. Truist Financial raised their price target on Quest Diagnostics from $172.00 to $182.00 and gave the stock a “hold” rating in a research note on Friday, January 31st. StockNews.com lowered shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Leerink Partnrs raised shares of Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Bank of America raised their price target on shares of Quest Diagnostics from $179.00 to $182.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Quest Diagnostics from $173.00 to $180.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $178.38.

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.