Quest Diagnostics Incorporated (NYSE:DGX) Stake Cut by Hartford Investment Management Co.

Hartford Investment Management Co. lessened its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 1.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 7,022 shares of the medical research company’s stock after selling 82 shares during the period. Hartford Investment Management Co.’s holdings in Quest Diagnostics were worth $1,090,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Rothschild Investment LLC purchased a new position in Quest Diagnostics during the second quarter valued at approximately $26,000. Innealta Capital LLC purchased a new position in shares of Quest Diagnostics during the 2nd quarter valued at $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 worth $31,000 after acquiring an additional 100 shares during the last quarter. TruNorth Capital Management LLC acquired a new position in shares of Quest Diagnostics in the second quarter worth $33,000. Finally, EdgeRock Capital LLC purchased a new stake in shares of Quest Diagnostics during the second quarter worth $35,000. Institutional investors and hedge funds own 88.06% of the company’s stock.

Quest Diagnostics Stock Performance

Shares of NYSE DGX opened at $155.04 on Friday. The company has a market cap of $17.22 billion, a P/E ratio of 20.87, a P/E/G ratio of 2.45 and a beta of 0.89. Quest Diagnostics Incorporated has a 12 month low of $123.04 and a 12 month high of $160.95. The business’s 50 day moving average is $153.12 and its two-hundred day moving average is $144.75. 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 (NYSE:DGX) last released its earnings results on Tuesday, October 22nd. The medical research company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.04. The business had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.43 billion. Quest Diagnostics had a return on equity of 15.35% and a net margin of 8.99%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period last year, the business earned $2.22 earnings per share. On average, equities analysts expect that Quest Diagnostics Incorporated will post 8.89 EPS for the current year.

Quest Diagnostics Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Friday, October 4th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $3.00 annualized dividend and a dividend yield of 1.93%. Quest Diagnostics’s dividend payout ratio (DPR) is currently 40.38%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Baird R W raised Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. UBS Group increased their price objective on Quest Diagnostics from $165.00 to $166.00 and gave the stock a “neutral” rating in a report on Wednesday. Mizuho lifted their target price on shares of Quest Diagnostics from $160.00 to $174.00 and gave the company an “outperform” rating in a research note on Thursday. Barclays boosted their target price on shares of Quest Diagnostics from $154.00 to $168.00 and gave the stock an “equal weight” rating in a research report on Wednesday. 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 report on Monday, July 29th. Nine investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $163.33.

Insider Activity at Quest Diagnostics

In related news, SVP Karthik Kuppusamy sold 1,990 shares of Quest Diagnostics 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 directly owns 11,459 shares of the company’s stock, valued at $1,756,206.34. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.79% of the stock is currently owned by insiders.

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.