Quest Diagnostics Incorporated (NYSE:DGX) Shares Sold by Godshalk Welsh Capital Management Inc.

Godshalk Welsh Capital Management Inc. lowered its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 5.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,400 shares of the medical research company’s stock after selling 200 shares during the period. Godshalk Welsh Capital Management Inc.’s holdings in Quest Diagnostics were worth $465,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Quest Diagnostics by 2.5% during the first quarter. Vanguard Group Inc. now owns 13,921,955 shares of the medical research company’s stock worth $1,853,151,000 after acquiring an additional 345,754 shares during the last quarter. Wellington Management Group LLP raised its position in Quest Diagnostics by 0.7% during the fourth quarter. Wellington Management Group LLP now owns 2,632,326 shares of the medical research company’s stock worth $362,945,000 after acquiring an additional 18,533 shares during the last quarter. Davis Selected Advisers raised its position in Quest Diagnostics by 0.4% during the second quarter. Davis Selected Advisers now owns 2,390,828 shares of the medical research company’s stock worth $327,257,000 after acquiring an additional 9,665 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Quest Diagnostics by 6.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,109,515 shares of the medical research company’s stock worth $288,758,000 after acquiring an additional 129,395 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Quest Diagnostics during the fourth quarter worth about $140,472,000. Institutional investors and hedge funds own 88.06% of the company’s stock.

Quest Diagnostics Trading Down 0.2 %

NYSE DGX opened at $155.12 on Friday. The company’s fifty day simple moving average is $150.43 and its 200-day simple moving average is $140.68. Quest Diagnostics Incorporated has a 52 week low of $119.59 and a 52 week high of $159.36. The company has a current ratio of 1.00, a quick ratio of 0.91 and a debt-to-equity ratio of 0.57. The stock has a market cap of $17.23 billion, a P/E ratio of 20.88, a PEG ratio of 2.80 and a beta of 0.89.

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

Quest Diagnostics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Friday, October 4th will be issued a $0.75 dividend. The ex-dividend date is Friday, October 4th. This represents a $3.00 annualized dividend and a yield of 1.93%. Quest Diagnostics’s dividend payout ratio is presently 40.38%.

Insider Activity at Quest Diagnostics

In related news, SVP Mark E. Delaney sold 420 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $143.08, for a total value of $60,093.60. Following the sale, the senior vice president now directly owns 5,019 shares of the company’s stock, valued at $718,118.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Karthik Kuppusamy sold 1,990 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $153.26, for a total transaction of $304,987.40. Following the completion of the transaction, the senior vice president now owns 11,459 shares in the company, valued at $1,756,206.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Mark E. Delaney sold 420 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $143.08, for a total transaction of $60,093.60. Following the completion of the transaction, the senior vice president now owns 5,019 shares of the company’s stock, valued at approximately $718,118.52. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on DGX shares. Barclays lifted their price target on shares of Quest Diagnostics from $144.00 to $154.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 27th. StockNews.com upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. JPMorgan Chase & Co. boosted their target price on shares of Quest Diagnostics from $152.00 to $155.00 and gave the company a “neutral” rating in a report on Thursday, May 30th. Robert W. Baird boosted their target price on shares of Quest Diagnostics from $153.00 to $154.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Finally, Truist Financial boosted their target price on shares of Quest Diagnostics from $150.00 to $158.00 and gave the company a “hold” rating in a report on Monday, July 15th. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $154.33.

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.