Westpac Banking Corp Reduces Stock Position in Quest Diagnostics Incorporated (NYSE:DGX)

Westpac Banking Corp lowered its position in Quest Diagnostics Incorporated (NYSE:DGXFree Report) by 92.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 432 shares of the medical research company’s stock after selling 5,602 shares during the period. Westpac Banking Corp’s holdings in Quest Diagnostics were worth $60,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of DGX. NBC Securities Inc. acquired a new stake in Quest Diagnostics during the 3rd quarter worth about $25,000. Altshuler Shaham Ltd purchased a new position in shares of Quest Diagnostics during the 4th quarter valued at approximately $26,000. VisionPoint Advisory Group LLC lifted its stake in shares of Quest Diagnostics by 100.0% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 218 shares of the medical research company’s stock valued at $27,000 after purchasing an additional 109 shares during the period. BKM Wealth Management LLC acquired a new stake in Quest Diagnostics during the fourth quarter valued at $29,000. Finally, Alaska Permanent Fund Corp increased its holdings in Quest Diagnostics by 79.3% in the fourth quarter. Alaska Permanent Fund Corp now owns 242 shares of the medical research company’s stock valued at $33,000 after buying an additional 107 shares in the last quarter. Institutional investors and hedge funds own 88.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. StockNews.com cut Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. SVB Leerink initiated coverage on shares of Quest Diagnostics in a report on Monday, February 26th. They set a “market perform” rating and a $135.00 price objective on the stock. Leerink Partnrs reissued a “market perform” rating on shares of Quest Diagnostics in a research note on Monday, February 26th. TheStreet lowered shares of Quest Diagnostics from a “b-” rating to a “c” rating in a research note on Monday, February 5th. Finally, Mizuho lifted their price objective on Quest Diagnostics from $150.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Ten analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $146.17.

View Our Latest Research Report on Quest Diagnostics

Insider Activity at Quest Diagnostics

In other news, SVP Karthik Kuppusamy sold 1,760 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $140.00, for a total transaction of $246,400.00. Following the sale, the senior vice president now owns 13,435 shares of the company’s stock, valued at $1,880,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Vicky B. Gregg sold 2,500 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $126.64, for a total transaction of $316,600.00. Following the completion of the transaction, the director now owns 16,329 shares in the company, valued at $2,067,904.56. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Karthik Kuppusamy sold 1,760 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $140.00, for a total value of $246,400.00. Following the completion of the transaction, the senior vice president now owns 13,435 shares in the company, valued at approximately $1,880,900. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,910 shares of company stock worth $2,159,602. Insiders own 0.79% of the company’s stock.

Quest Diagnostics Price Performance

Quest Diagnostics stock opened at $144.34 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.59. The stock has a market cap of $16.03 billion, a P/E ratio of 19.43, a PEG ratio of 3.09 and a beta of 0.88. The company has a 50-day moving average price of $132.66 and a 200 day moving average price of $132.58. Quest Diagnostics Incorporated has a 12-month low of $119.59 and a 12-month high of $145.58.

Quest Diagnostics (NYSE:DGXGet Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The medical research company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.18. Quest Diagnostics had a return on equity of 15.52% and a net margin of 9.11%. The firm had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.29 billion. During the same period in the prior year, the firm posted $2.04 earnings per share. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. Sell-side analysts anticipate that Quest Diagnostics Incorporated will post 8.78 earnings per share for the current year.

Quest Diagnostics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 22nd. Investors of record on Monday, July 8th will be given a dividend of $0.75 per share. The ex-dividend date is Monday, July 8th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.08%. Quest Diagnostics’s payout ratio is currently 38.22%.

About Quest Diagnostics

(Free Report)

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.

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Institutional Ownership by Quarter for Quest Diagnostics (NYSE:DGX)

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