Quest Diagnostics Inc (NYSE:DGX) SVP Michael E. Prevoznik sold 13,987 shares of Quest Diagnostics stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $100.00, for a total value of $1,398,700.00. Following the completion of the transaction, the senior vice president now owns 54,309 shares in the company, valued at $5,430,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Quest Diagnostics Inc (NYSE:DGX) traded up 0.11% during midday trading on Monday, reaching $99.17. The company’s stock had a trading volume of 576,100 shares. The firm has a 50 day moving average price of $95.86 and a 200-day moving average price of $88.96. Quest Diagnostics Inc has a 52 week low of $68.91 and a 52 week high of $100.00. The firm has a market cap of $13.64 billion, a P/E ratio of 21.99 and a beta of 0.68.
Quest Diagnostics (NYSE:DGX) last issued its earnings results on Thursday, January 26th. The company reported $1.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.04. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Quest Diagnostics had a net margin of 8.56% and a return on equity of 14.61%. Quest Diagnostics’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.29 EPS. On average, analysts forecast that Quest Diagnostics Inc will post $5.46 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 19th. Stockholders of record on Wednesday, April 5th will be issued a $0.45 dividend. The ex-dividend date is Monday, April 3rd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.82%. Quest Diagnostics’s payout ratio is 40.00%.
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A number of equities analysts have recently commented on the company. Jefferies Group LLC reissued a “hold” rating and set a $96.00 target price on shares of Quest Diagnostics in a research report on Thursday. Bank of America Corp raised Quest Diagnostics from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $85.00 to $103.00 in a research report on Thursday. Goldman Sachs Group Inc raised Quest Diagnostics from a “buy” rating to a “conviction-buy” rating and set a $113.00 target price on the stock in a research report on Tuesday, March 14th. Barclays PLC lifted their target price on Quest Diagnostics from $92.00 to $98.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 7th. Finally, Canaccord Genuity set a $102.00 target price on Quest Diagnostics and gave the stock a “buy” rating in a research report on Thursday, January 26th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Quest Diagnostics currently has a consensus rating of “Hold” and an average price target of $96.50.
Several large investors have recently modified their holdings of the stock. State Street Corp boosted its stake in shares of Quest Diagnostics by 7.4% in the fourth quarter. State Street Corp now owns 6,738,210 shares of the company’s stock worth $619,233,000 after buying an additional 462,214 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Quest Diagnostics by 1.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 4,265,792 shares of the company’s stock worth $361,014,000 after buying an additional 77,423 shares during the last quarter. BlackRock Advisors LLC boosted its stake in shares of Quest Diagnostics by 3.1% in the third quarter. BlackRock Advisors LLC now owns 3,697,917 shares of the company’s stock worth $312,955,000 after buying an additional 111,679 shares during the last quarter. BlackRock Fund Advisors boosted its stake in shares of Quest Diagnostics by 0.9% in the third quarter. BlackRock Fund Advisors now owns 3,088,078 shares of the company’s stock worth $261,344,000 after buying an additional 28,019 shares during the last quarter. Finally, Schroder Investment Management Group boosted its stake in shares of Quest Diagnostics by 10.2% in the third quarter. Schroder Investment Management Group now owns 2,778,803 shares of the company’s stock worth $235,171,000 after buying an additional 257,003 shares during the last quarter. 87.71% of the stock is currently owned by institutional investors.
About Quest Diagnostics
Quest Diagnostics Incorporated is a provider of diagnostic information services. The Company operates through two businesses: Diagnostic Information Services and Diagnostic Solutions. The Company’s Diagnostic Information Services business develops and delivers diagnostic testing information and services to patients, physicians, health plans, hospitals, accountable care organizations (ACOs), integrated delivery networks (IDNs), other commercial laboratories, employers and others.
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