Insider Selling: Quest Diagnostics Incorporated (DGX) Director Sells $4,420,063.00 in Stock
Quest Diagnostics Incorporated (NYSE:DGX) Director Daniel Stanzione sold 40,900 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $108.07, for a total value of $4,420,063.00. Following the sale, the director now owns 41,991 shares in the company, valued at approximately $4,537,967.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Daniel Stanzione also recently made the following trade(s):
- On Tuesday, September 5th, Daniel Stanzione sold 3,803 shares of Quest Diagnostics stock. The stock was sold at an average price of $108.01, for a total value of $410,762.03.
Quest Diagnostics Incorporated (DGX) opened at 104.96 on Friday. The company has a 50-day moving average price of $106.93 and a 200-day moving average price of $105.25. Quest Diagnostics Incorporated has a one year low of $79.12 and a one year high of $112.97. The firm has a market cap of $14.32 billion, a PE ratio of 21.15 and a beta of 0.69.
Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings results on Tuesday, July 25th. The medical research company reported $1.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.42 by $0.13. Quest Diagnostics had a net margin of 9.28% and a return on equity of 15.66%. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the business posted $1.34 earnings per share. Quest Diagnostics’s revenue for the quarter was up 1.9% compared to the same quarter last year. Equities analysts predict that Quest Diagnostics Incorporated will post $5.69 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 18th. Stockholders of record on Tuesday, October 3rd will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date is Monday, October 2nd. Quest Diagnostics’s dividend payout ratio (DPR) is presently 36.29%.
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Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Quest Diagnostics by 2,638.3% in the first quarter. BlackRock Inc. now owns 15,362,418 shares of the medical research company’s stock worth $1,508,435,000 after acquiring an additional 14,801,397 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Quest Diagnostics by 3.9% in the second quarter. Vanguard Group Inc. now owns 14,029,322 shares of the medical research company’s stock worth $1,559,500,000 after acquiring an additional 525,200 shares during the last quarter. State Street Corp increased its stake in shares of Quest Diagnostics by 2.7% in the first quarter. State Street Corp now owns 6,918,900 shares of the medical research company’s stock worth $679,362,000 after acquiring an additional 180,690 shares during the last quarter. Schroder Investment Management Group increased its stake in shares of Quest Diagnostics by 8.3% in the first quarter. Schroder Investment Management Group now owns 2,188,114 shares of the medical research company’s stock worth $215,245,000 after acquiring an additional 167,246 shares during the last quarter. Finally, Investec Asset Management LTD increased its stake in shares of Quest Diagnostics by 9.4% in the second quarter. Investec Asset Management LTD now owns 2,178,678 shares of the medical research company’s stock worth $242,182,000 after acquiring an additional 186,477 shares during the last quarter. 87.07% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have recently issued reports on DGX shares. Mizuho raised their price objective on Quest Diagnostics from $115.00 to $122.00 and gave the stock a “buy” rating in a report on Monday, June 5th. ValuEngine upgraded Quest Diagnostics from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Zacks Investment Research upgraded Quest Diagnostics from a “hold” rating to a “buy” rating and set a $119.00 price objective on the stock in a report on Tuesday, May 23rd. UBS AG raised their price objective on Quest Diagnostics from $115.00 to $123.00 and gave the stock a “buy” rating in a report on Thursday, July 6th. Finally, Canaccord Genuity restated a “buy” rating and set a $118.00 price objective on shares of Quest Diagnostics in a report on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $111.09.
About Quest Diagnostics
Quest Diagnostics Incorporated is a provider of diagnostic information services. The Company operates through two businesses: Diagnostic Information Services and Diagnostic Solutions. The Diagnostic Information Services business develops and delivers diagnostic testing information and services, providing insights that empower and enable a range of customers, including patients, clinicians, hospitals, integrated delivery networks (IDNs), health plans, employers and accountable care organizations (ACOs).
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