Insider Selling: Quest Diagnostics Inc (DGX) SVP Sells 13,987 Shares of Stock
Quest Diagnostics Inc (NYSE:DGX) SVP Michael E. Prevoznik sold 13,987 shares of the stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $100.00, for a total value of $1,398,700.00. Following the transaction, the senior vice president now directly owns 54,309 shares in the company, valued at approximately $5,430,900. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Shares of Quest Diagnostics Inc (NYSE:DGX) traded up 0.11% during mid-day trading on Monday, hitting $99.17. The stock had a trading volume of 576,100 shares. The firm has a 50 day moving average of $95.86 and a 200 day moving average of $88.96. The stock has a market cap of $13.64 billion, a price-to-earnings ratio of 21.99 and a beta of 0.68. Quest Diagnostics Inc has a one year low of $68.91 and a one year high of $100.00.
Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings data on Thursday, January 26th. The company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.04. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.86 billion. Quest Diagnostics had a return on equity of 14.61% and a net margin of 8.56%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the company posted $1.29 earnings per share. On average, analysts forecast that Quest Diagnostics Inc will post $5.46 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 19th. Stockholders of record on Wednesday, April 5th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Monday, April 3rd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.82%. Quest Diagnostics’s payout ratio is presently 40.00%.
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A number of research analysts have commented on DGX shares. Mizuho reaffirmed a “neutral” rating and set a $88.00 target price on shares of Quest Diagnostics in a report on Wednesday, November 30th. Goldman Sachs Group Inc raised Quest Diagnostics from a “neutral” rating to a “buy” rating and set a $102.00 target price on the stock in a report on Monday, December 12th. Zacks Investment Research raised Quest Diagnostics from a “hold” rating to a “buy” rating and set a $104.00 target price on the stock in a report on Monday, January 16th. Canaccord Genuity set a $90.00 target price on Quest Diagnostics and gave the stock a “buy” rating in a report on Tuesday, January 17th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $108.00 target price on shares of Quest Diagnostics in a report on Wednesday, January 18th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $96.50.
Institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC raised its position in Quest Diagnostics by 61.9% in the third quarter. Acadian Asset Management LLC now owns 1,176,509 shares of the company’s stock worth $99,568,000 after buying an additional 449,689 shares during the last quarter. 1st Global Advisors Inc. raised its position in Quest Diagnostics by 10.4% in the third quarter. 1st Global Advisors Inc. now owns 9,800 shares of the company’s stock worth $829,000 after buying an additional 922 shares during the last quarter. Meeder Asset Management Inc. raised its position in Quest Diagnostics by 144.5% in the third quarter. Meeder Asset Management Inc. now owns 28,039 shares of the company’s stock worth $2,374,000 after buying an additional 16,571 shares during the last quarter. Bank of Montreal Can raised its position in Quest Diagnostics by 15.7% in the third quarter. Bank of Montreal Can now owns 282,682 shares of the company’s stock worth $23,923,000 after buying an additional 38,278 shares during the last quarter. Finally, First Quadrant L P CA raised its position in Quest Diagnostics by 1,679.0% in the third quarter. First Quadrant L P CA now owns 149,440 shares of the company’s stock worth $12,647,000 after buying an additional 141,040 shares during the last quarter. Institutional investors and hedge funds own 87.71% of the company’s stock.
Quest Diagnostics Company Profile
Quest Diagnostics Incorporated is a provider of diagnostic information services. The Company operates through two businesses: Diagnostic Information Services and Diagnostic Solutions. The Company’s Diagnostic Information Services business develops and delivers diagnostic testing information and services to patients, physicians, health plans, hospitals, accountable care organizations (ACOs), integrated delivery networks (IDNs), other commercial laboratories, employers and others.
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