Rockland Trust Co. Has $326,000 Position in Quest Diagnostics Incorporated (NYSE:DGX)

Rockland Trust Co. reduced its holdings in Quest Diagnostics Incorporated (NYSE:DGX) by 13.0% in the 3rd quarter, Holdings Channel reports. The fund owned 2,103 shares of the medical research company’s stock after selling 313 shares during the quarter. Rockland Trust Co.’s holdings in Quest Diagnostics were worth $326,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of DGX. Bank of Nova Scotia raised its holdings in shares of Quest Diagnostics by 31.7% in the fourth quarter. Bank of Nova Scotia now owns 14,615 shares of the medical research company’s stock valued at $2,015,000 after purchasing an additional 3,521 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Quest Diagnostics by 5.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 135,148 shares of the medical research company’s stock worth $18,634,000 after purchasing an additional 7,415 shares in the last quarter. CIBC Private Wealth Group LLC increased its holdings in Quest Diagnostics by 126.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 7,459 shares of the medical research company’s stock valued at $1,028,000 after buying an additional 4,163 shares during the period. Tower Research Capital LLC TRC increased its stake in Quest Diagnostics by 189.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 14,823 shares of the medical research company’s stock valued at $2,044,000 after acquiring an additional 9,706 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its position in shares of Quest Diagnostics by 1.4% during the 4th quarter. 1832 Asset Management L.P. now owns 14,534 shares of the medical research company’s stock worth $2,004,000 after buying an additional 206 shares during the last quarter. 88.06% of the stock is owned by institutional investors.

Quest Diagnostics Stock Performance

Shares of Quest Diagnostics stock traded down $0.59 on Friday, reaching $150.79. 500,806 shares of the company traded hands, compared to its average volume of 929,925. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.00 and a quick ratio of 0.91. The company has a 50 day moving average of $152.18 and a 200 day moving average of $142.66. Quest Diagnostics Incorporated has a 52 week low of $120.10 and a 52 week high of $159.36. The firm has a market capitalization of $16.75 billion, a PE ratio of 20.29, 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 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.04. The firm had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.39 billion. Quest Diagnostics had a net margin of 8.99% and a return on equity of 15.35%. The company’s revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the company earned $2.30 earnings per share. Equities analysts forecast that Quest Diagnostics Incorporated will post 8.89 earnings per share for the current year.

Quest Diagnostics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Friday, October 4th will be given a $0.75 dividend. The ex-dividend date is Friday, October 4th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.99%. Quest Diagnostics’s dividend payout ratio (DPR) is currently 40.38%.

Insider Buying and Selling at Quest Diagnostics

In other news, SVP Mark E. Delaney sold 420 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was 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 trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Mark E. Delaney sold 420 shares of the stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $143.08, for a total transaction of $60,093.60. Following the transaction, the senior vice president now directly owns 5,019 shares in the company, valued at approximately $718,118.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Karthik Kuppusamy sold 1,990 shares of Quest Diagnostics stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $153.26, for a total transaction of $304,987.40. Following the transaction, the senior vice president now directly owns 11,459 shares in the company, valued at $1,756,206.34. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on DGX shares. Citigroup raised shares of Quest Diagnostics from a “neutral” rating to a “buy” rating and increased their price objective for the company from $145.00 to $165.00 in a research note on Wednesday, July 10th. StockNews.com upgraded Quest Diagnostics from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. Evercore ISI initiated coverage on shares of Quest Diagnostics in a report on Wednesday, August 28th. They set an “in-line” rating and a $165.00 price objective on the stock. Barclays upped their target price on Quest Diagnostics from $144.00 to $154.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 27th. Finally, Piper Sandler raised their price target on shares of Quest Diagnostics from $145.00 to $150.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average 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.