Quest Diagnostics Incorporated (NYSE:DGX) Shares Sold by Bridgewater Associates LP

Bridgewater Associates LP lowered its position in Quest Diagnostics Incorporated (NYSE:DGX) by 75.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,890 shares of the medical research company’s stock after selling 66,849 shares during the quarter. Bridgewater Associates LP’s holdings in Quest Diagnostics were worth $3,302,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DGX. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in Quest Diagnostics by 1.6% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,843 shares of the medical research company’s stock valued at $580,000 after purchasing an additional 60 shares during the last quarter. Net Worth Advisory Group boosted its stake in shares of Quest Diagnostics by 1.0% during the 4th quarter. Net Worth Advisory Group now owns 6,495 shares of the medical research company’s stock valued at $980,000 after buying an additional 62 shares during the last quarter. Bessemer Group Inc. increased its stake in shares of Quest Diagnostics by 0.3% in the fourth quarter. Bessemer Group Inc. now owns 20,811 shares of the medical research company’s stock worth $3,140,000 after buying an additional 65 shares during the last quarter. Brooklyn Investment Group raised its holdings in Quest Diagnostics by 5.5% in the fourth quarter. Brooklyn Investment Group now owns 1,315 shares of the medical research company’s stock valued at $198,000 after acquiring an additional 68 shares in the last quarter. Finally, Mather Group LLC. boosted its stake in Quest Diagnostics by 10.4% during the 4th quarter. Mather Group LLC. now owns 764 shares of the medical research company’s stock valued at $115,000 after acquiring an additional 72 shares during the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

Quest Diagnostics Price Performance

Shares of NYSE:DGX opened at $163.75 on Friday. The firm’s 50 day moving average is $168.68 and its two-hundred day moving average is $160.19. The firm has a market capitalization of $18.17 billion, a P/E ratio of 21.29, a PEG ratio of 2.16 and a beta of 0.78. The company has a current ratio of 1.10, a quick ratio of 1.02 and a debt-to-equity ratio of 0.82. Quest Diagnostics Incorporated has a 52 week low of $125.42 and a 52 week high of $178.87.

Quest Diagnostics (NYSE:DGX) last posted its earnings results on Thursday, January 30th. The medical research company reported $2.23 EPS for the quarter, beating the consensus estimate of $2.19 by $0.04. Quest Diagnostics had a return on equity of 15.07% and a net margin of 8.80%. Analysts anticipate that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current year.

Quest Diagnostics Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.20 annualized dividend and a yield of 1.95%. This is an increase from Quest Diagnostics’s previous quarterly dividend of $0.75. Quest Diagnostics’s dividend payout ratio is presently 41.61%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Truist Financial upped their target price on shares of Quest Diagnostics from $172.00 to $182.00 and gave the company a “hold” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. increased their target price on Quest Diagnostics from $173.00 to $180.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Robert W. Baird boosted their price target on Quest Diagnostics from $190.00 to $191.00 and gave the company an “outperform” rating in a report on Thursday, March 20th. Redburn Partners set a $195.00 price objective on shares of Quest Diagnostics in a report on Wednesday, April 2nd. Finally, Citigroup cut shares of Quest Diagnostics from a “buy” rating to a “neutral” rating and set a $185.00 target price on the stock. in a report on Tuesday, March 4th. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $181.33.

Insider Activity at Quest Diagnostics

In related news, CEO J. E. Davis sold 39,191 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $168.46, for a total transaction of $6,602,115.86. Following the sale, the chief executive officer now owns 127,623 shares of the company’s stock, valued at $21,499,370.58. The trade was a 23.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Mark E. Delaney sold 403 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $164.30, for a total value of $66,212.90. Following the transaction, the senior vice president now directly owns 4,624 shares of the company’s stock, valued at approximately $759,723.20. The trade was a 8.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,903 shares of company stock worth $9,460,221 in the last 90 days. Corporate insiders own 0.79% of the company’s stock.

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.