Catherine T. Doherty Sells 535 Shares of Quest Diagnostics Incorporated (NYSE:DGX) Stock

Quest Diagnostics Incorporated (NYSE:DGX) EVP Catherine T. Doherty sold 535 shares of Quest Diagnostics stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $169.71, for a total value of $90,794.85. Following the completion of the transaction, the executive vice president now owns 71,356 shares in the company, valued at $12,109,826.76. This trade represents a 0.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Quest Diagnostics Stock Performance

DGX stock traded up $0.30 during trading on Friday, hitting $172.44. 727,359 shares of the company traded hands, compared to its average volume of 1,035,902. The company has a market cap of $19.25 billion, a PE ratio of 22.42, a P/E/G ratio of 2.15 and a beta of 0.91. Quest Diagnostics Incorporated has a 1 year low of $123.66 and a 1 year high of $172.91. The stock’s 50-day simple moving average is $157.21 and its 200 day simple moving average is $155.68. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.10 and a quick ratio of 1.02.

Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings data on Thursday, January 30th. The medical research company reported $2.23 EPS for the quarter, beating analysts’ consensus estimates of $2.19 by $0.04. Quest Diagnostics had a return on equity of 15.07% and a net margin of 8.80%. On average, equities analysts expect that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal year.

Quest Diagnostics Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.86%. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Monday, April 7th. Quest Diagnostics’s payout ratio is presently 39.01%.

Analysts Set New Price Targets

DGX has been the topic of several analyst reports. Morgan Stanley upgraded Quest Diagnostics from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $145.00 to $172.00 in a research note on Tuesday, December 17th. JPMorgan Chase & Co. raised their price target on Quest Diagnostics from $173.00 to $180.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Leerink Partners raised Quest Diagnostics from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $169.00 to $174.00 in a report on Monday, January 6th. Leerink Partnrs raised Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Finally, Bank of America raised their price target on Quest Diagnostics from $179.00 to $182.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Quest Diagnostics presently has a consensus rating of “Moderate Buy” and a consensus target price of $177.69.

Institutional Trading of Quest Diagnostics

Several large investors have recently made changes to their positions in the company. Mackenzie Financial Corp increased its position in shares of Quest Diagnostics by 16.0% during the fourth quarter. Mackenzie Financial Corp now owns 11,002 shares of the medical research company’s stock worth $1,660,000 after purchasing an additional 1,518 shares in the last quarter. Forum Financial Management LP boosted its stake in Quest Diagnostics by 72.9% during the fourth quarter. Forum Financial Management LP now owns 3,355 shares of the medical research company’s stock worth $506,000 after buying an additional 1,415 shares during the last quarter. Peak Retirement Planning Inc. acquired a new position in Quest Diagnostics during the fourth quarter worth $1,067,000. Toronto Dominion Bank boosted its stake in Quest Diagnostics by 6.9% during the fourth quarter. Toronto Dominion Bank now owns 59,686 shares of the medical research company’s stock worth $9,004,000 after buying an additional 3,840 shares during the last quarter. Finally, GF Fund Management CO. LTD. acquired a new position in Quest Diagnostics during the fourth quarter worth $421,000. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

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.