Raymond James Trust N.A. Sells 272 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

Raymond James Trust N.A. lowered its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 9.9% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 2,484 shares of the medical research company’s stock after selling 272 shares during the period. Raymond James Trust N.A.’s holdings in Quest Diagnostics were worth $340,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Waterway Wealth Management LLC lifted its position in shares of Quest Diagnostics by 10.6% in the 2nd quarter. Waterway Wealth Management LLC now owns 3,851 shares of the medical research company’s stock worth $527,000 after acquiring an additional 370 shares during the period. EdgeRock Capital LLC acquired a new position in shares of Quest Diagnostics in the second quarter valued at $35,000. Family Firm Inc. bought a new position in Quest Diagnostics in the second quarter worth $80,000. Van Lanschot Kempen Investment Management N.V. acquired a new stake in Quest Diagnostics during the second quarter worth $48,783,000. Finally, &PARTNERS bought a new stake in Quest Diagnostics in the 2nd quarter valued at $620,000. Institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Price Performance

Shares of DGX stock opened at $153.66 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 1.00 and a debt-to-equity ratio of 0.57. Quest Diagnostics Incorporated has a 12 month low of $119.59 and a 12 month high of $154.71. The firm has a market cap of $17.07 billion, a price-to-earnings ratio of 20.68, a PEG ratio of 2.69 and a beta of 0.89. The stock has a 50-day moving average price of $144.95 and a 200 day moving average price of $137.41.

Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings results on Tuesday, July 23rd. The medical research company reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.04. Quest Diagnostics had a net margin of 8.99% and a return on equity of 15.35%. The business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.39 billion. During the same period in the previous year, the firm posted $2.30 earnings per share. Quest Diagnostics’s revenue for the quarter was up 2.5% compared to the same quarter last year. Research analysts expect that Quest Diagnostics Incorporated will post 8.89 EPS for the current year.

Quest Diagnostics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Friday, October 4th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date is Friday, October 4th. Quest Diagnostics’s dividend payout ratio (DPR) is currently 40.38%.

Analyst Upgrades and Downgrades

DGX has been the subject of a number of analyst reports. Truist Financial raised their price objective on shares of Quest Diagnostics from $150.00 to $158.00 and gave the stock a “hold” rating in a report on Monday, July 15th. Piper Sandler lifted their price objective on Quest Diagnostics from $145.00 to $150.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Citigroup raised Quest Diagnostics from a “neutral” rating to a “buy” rating and increased their target price for the stock from $145.00 to $165.00 in a report on Wednesday, July 10th. StockNews.com raised Quest Diagnostics from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. increased their price objective on Quest Diagnostics from $152.00 to $155.00 and gave the stock a “neutral” rating in a research note on Thursday, May 30th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $151.42.

Insider Activity

In other news, SVP Mark E. Delaney sold 420 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $143.08, for a total value of $60,093.60. Following the transaction, the senior vice president now owns 5,019 shares of the company’s stock, valued at approximately $718,118.52. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.79% of the stock is currently owned by company insiders.

About Quest Diagnostics

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.