Quest Diagnostics Incorporated (NYSE:DGX) Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. cut its stake in Quest Diagnostics Incorporated (NYSE:DGX) by 9.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,841 shares of the medical research company’s stock after selling 2,956 shares during the period. Vontobel Holding Ltd.’s holdings in Quest Diagnostics were worth $4,633,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Rothschild Investment LLC acquired a new stake in shares of Quest Diagnostics in the 2nd quarter worth about $26,000. Innealta Capital LLC bought a new position in Quest Diagnostics in the 2nd quarter worth about $31,000. Larson Financial Group LLC increased its stake in shares of Quest Diagnostics by 77.5% in the second quarter. Larson Financial Group LLC now owns 229 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 100 shares during the period. Riverview Trust Co acquired a new position in shares of Quest Diagnostics during the first quarter worth approximately $33,000. Finally, TruNorth Capital Management LLC acquired a new position in shares of Quest Diagnostics during the second quarter worth approximately $33,000. 88.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Citigroup raised Quest Diagnostics from a “neutral” rating to a “buy” rating and lifted their target price for the company from $145.00 to $165.00 in a research note on Wednesday, July 10th. Piper Sandler lifted their price objective on shares of Quest Diagnostics from $145.00 to $150.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Truist Financial raised their target price on shares of Quest Diagnostics from $158.00 to $165.00 and gave the company a “hold” rating in a research note on Monday, October 7th. Robert W. Baird increased their price objective 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, StockNews.com raised Quest Diagnostics from a “hold” rating to a “buy” rating in a report on Tuesday. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Quest Diagnostics currently has an average rating of “Hold” and a consensus price target of $154.92.

Quest Diagnostics Stock Performance

Shares of DGX opened at $149.58 on Friday. The company has a 50-day moving average of $152.67 and a two-hundred day moving average of $143.93. The stock has a market cap of $16.62 billion, a price-to-earnings ratio of 20.13, a PEG ratio of 2.45 and a beta of 0.89. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.00 and a quick ratio of 0.91. Quest Diagnostics Incorporated has a one year low of $120.87 and a one year high of $159.36.

Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings data 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 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 company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.30 EPS. On average, equities research analysts expect that Quest Diagnostics Incorporated will post 8.89 earnings per share for the current year.

Quest Diagnostics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Friday, October 4th will be given a dividend of $0.75 per share. The ex-dividend date is Friday, October 4th. This represents a $3.00 dividend on an annualized basis and a yield of 2.01%. Quest Diagnostics’s payout ratio is presently 40.38%.

Insider Buying and Selling at Quest Diagnostics

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

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.