Cozad Asset Management Inc. Sells 1,021 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

Cozad Asset Management Inc. cut its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 8.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,426 shares of the medical research company’s stock after selling 1,021 shares during the quarter. Cozad Asset Management Inc.’s holdings in Quest Diagnostics were worth $1,438,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in shares of Quest Diagnostics by 36.8% during the third quarter. JPMorgan Chase & Co. now owns 2,001,347 shares of the medical research company’s stock worth $243,884,000 after acquiring an additional 538,377 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Quest Diagnostics by 12.3% during the third quarter. American Century Companies Inc. now owns 3,554,517 shares of the medical research company’s stock worth $433,153,000 after acquiring an additional 388,162 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Quest Diagnostics by 14.6% during the third quarter. Wellington Management Group LLP now owns 2,613,793 shares of the medical research company’s stock worth $318,517,000 after acquiring an additional 333,947 shares in the last quarter. Pathstone Family Office LLC raised its stake in shares of Quest Diagnostics by 2,400.9% during the third quarter. Pathstone Family Office LLC now owns 336,521 shares of the medical research company’s stock worth $41,008,000 after acquiring an additional 323,065 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of Quest Diagnostics during the fourth quarter worth approximately $30,869,000. 88.06% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Michael E. Prevoznik sold 661 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $126.14, for a total transaction of $83,378.54. Following the sale, the senior vice president now owns 40,206 shares in the company, valued at approximately $5,071,584.84. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, SVP Michael E. Prevoznik sold 5,611 shares of the company’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 approximately $4,843,610.64. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Michael E. Prevoznik sold 661 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $126.14, for a total transaction of $83,378.54. Following the completion of the transaction, the senior vice president now owns 40,206 shares in the company, valued at approximately $5,071,584.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,150 shares of company stock worth $1,913,202. Corporate insiders own 0.79% of the company’s stock.

Quest Diagnostics Stock Performance

NYSE:DGX opened at $138.18 on Wednesday. The stock has a market cap of $15.35 billion, a P/E ratio of 18.60, a price-to-earnings-growth ratio of 3.03 and a beta of 0.91. The firm’s fifty day simple moving average is $129.69 and its 200 day simple moving average is $131.53. Quest Diagnostics Incorporated has a twelve month low of $119.59 and a twelve month high of $145.58. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.59.

Quest Diagnostics (NYSE:DGX) last announced its earnings results on Tuesday, April 23rd. The medical research company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.18. Quest Diagnostics had a net margin of 9.11% and a return on equity of 15.52%. The firm had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.29 billion. During the same quarter in the previous year, the business posted $2.04 EPS. The company’s quarterly revenue was up 1.7% on a year-over-year basis. As a group, research analysts predict that Quest Diagnostics Incorporated will post 8.78 EPS for the current year.

Quest Diagnostics Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 8th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend was Friday, April 5th. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.71. Quest Diagnostics’s payout ratio is 38.22%.

Analysts Set New Price Targets

Several brokerages recently commented on DGX. UBS Group lifted their target price on shares of Quest Diagnostics from $139.00 to $146.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Truist Financial lifted their target price on shares of Quest Diagnostics from $145.00 to $150.00 and gave the stock a “hold” rating in a research note on Wednesday, April 24th. SVB Leerink began coverage on shares of Quest Diagnostics in a research note on Monday, February 26th. They issued a “market perform” rating and a $135.00 target price on the stock. Jefferies Financial Group raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating and lifted their target price for the stock from $140.00 to $155.00 in a research note on Wednesday, February 7th. Finally, Barclays lifted their target price on shares of Quest Diagnostics from $138.00 to $144.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 25th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $146.17.

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.