Mutual of America Capital Management LLC Decreases Stake in Quest Diagnostics Incorporated (NYSE:DGX)

Mutual of America Capital Management LLC trimmed its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 2.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,400 shares of the medical research company’s stock after selling 339 shares during the period. Mutual of America Capital Management LLC’s holdings in Quest Diagnostics were worth $2,022,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Sierra Ocean LLC purchased a new position in shares of Quest Diagnostics in the 4th quarter valued at approximately $33,000. Versant Capital Management Inc boosted its position in shares of Quest Diagnostics by 340.4% in the 4th quarter. Versant Capital Management Inc now owns 251 shares of the medical research company’s stock worth $38,000 after buying an additional 194 shares in the last quarter. First Financial Corp IN acquired a new stake in shares of Quest Diagnostics in the fourth quarter valued at approximately $38,000. FPC Investment Advisory Inc. purchased a new position in Quest Diagnostics during the fourth quarter worth $45,000. Finally, Global Trust Asset Management LLC purchased a new stake in Quest Diagnostics during the 4th quarter worth about $49,000. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Insider Buying and Selling

In related news, EVP Catherine T. Doherty sold 5,370 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $174.13, for a total value of $935,078.10. Following the completion of the sale, the executive vice president now directly owns 68,068 shares in the company, valued at approximately $11,852,680.84. This trade represents a 7.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Mark E. Delaney sold 403 shares of Quest Diagnostics stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $164.30, for a total transaction of $66,212.90. Following the sale, the senior vice president now directly owns 4,624 shares of the company’s stock, valued at $759,723.20. The trade was a 8.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,514 shares of company stock valued at $1,634,445 over the last three months. Company insiders own 0.79% of the company’s stock.

Quest Diagnostics Stock Up 2.2 %

Shares of NYSE DGX opened at $175.49 on Friday. Quest Diagnostics Incorporated has a 12-month low of $125.09 and a 12-month high of $178.09. The firm’s 50-day simple moving average is $161.74 and its 200 day simple moving average is $157.56. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.82. The company has a market cap of $19.48 billion, a price-to-earnings ratio of 22.82, a price-to-earnings-growth ratio of 2.16 and a beta of 0.92.

Quest Diagnostics (NYSE:DGX) last released its quarterly 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 net margin of 8.80% and a return on equity of 15.07%. On average, research analysts expect that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal year.

Quest Diagnostics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend is Monday, April 7th. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.75. Quest Diagnostics’s dividend payout ratio (DPR) is 41.61%.

Analyst Ratings Changes

Several research analysts have recently weighed in on DGX shares. Citigroup lowered shares of Quest Diagnostics from a “buy” rating to a “neutral” rating and set a $185.00 price objective on the stock. in a report on Tuesday. StockNews.com downgraded shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Jefferies Financial Group restated a “buy” rating and issued a $185.00 price target (up from $175.00) on shares of Quest Diagnostics in a research report on Tuesday, December 10th. Truist Financial raised their target price on Quest Diagnostics from $172.00 to $182.00 and gave the company a “hold” rating in a research note on Friday, January 31st. Finally, Mizuho raised their target price on Quest Diagnostics from $177.00 to $178.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Eight analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Quest Diagnostics presently has an average rating of “Moderate Buy” and an average target price of $178.23.

Quest Diagnostics 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.