Intech Investment Management LLC Decreases Stake in Quest Diagnostics Incorporated (NYSE:DGX)

Intech Investment Management LLC lessened its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 31.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,914 shares of the medical research company’s stock after selling 35,089 shares during the period. Intech Investment Management LLC owned 0.07% of Quest Diagnostics worth $10,528,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Arkadios Wealth Advisors boosted its holdings in Quest Diagnostics by 1.6% in the first quarter. Arkadios Wealth Advisors now owns 4,933 shares of the medical research company’s stock valued at $657,000 after purchasing an additional 77 shares during the period. New England Capital Financial Advisors LLC raised its position in Quest Diagnostics by 24.7% in the 1st quarter. New England Capital Financial Advisors LLC now owns 389 shares of the medical research company’s stock valued at $52,000 after purchasing an additional 77 shares in the last quarter. Meeder Advisory Services Inc. boosted its stake in shares of Quest Diagnostics by 4.9% in the 2nd quarter. Meeder Advisory Services Inc. now owns 1,795 shares of the medical research company’s stock valued at $246,000 after buying an additional 84 shares during the period. Keudell Morrison Wealth Management grew its position in shares of Quest Diagnostics by 3.8% during the first quarter. Keudell Morrison Wealth Management now owns 2,312 shares of the medical research company’s stock worth $308,000 after buying an additional 85 shares in the last quarter. Finally, Arjuna Capital increased its stake in shares of Quest Diagnostics by 5.2% during the first quarter. Arjuna Capital now owns 1,770 shares of the medical research company’s stock worth $236,000 after buying an additional 88 shares during the period. Institutional investors and hedge funds own 88.06% of the company’s stock.

Quest Diagnostics Stock Performance

Shares of DGX opened at $152.99 on Friday. The company’s 50 day simple moving average is $150.61 and its 200-day simple moving average is $140.88. The firm has a market cap of $17.00 billion, a PE ratio of 20.59, a price-to-earnings-growth ratio of 2.80 and a beta of 0.89. Quest Diagnostics Incorporated has a 12-month low of $119.59 and a 12-month high of $159.36. The company has a current ratio of 1.00, a quick ratio of 0.91 and a debt-to-equity ratio of 0.57.

Quest Diagnostics (NYSE:DGX) last announced its earnings results on Tuesday, July 23rd. The medical research company reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.04. Quest Diagnostics had a net margin of 8.99% and a return on equity of 15.35%. The business had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.39 billion. During the same period in the prior year, the company earned $2.30 earnings per share. The business’s revenue was up 2.5% compared to the same quarter last year. As a group, equities analysts predict that Quest Diagnostics Incorporated will post 8.89 EPS for the current year.

Quest Diagnostics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Friday, October 4th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Friday, October 4th. Quest Diagnostics’s payout ratio is currently 40.38%.

Analyst Ratings Changes

Several research analysts have commented on DGX shares. Citigroup upgraded shares of Quest Diagnostics from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $145.00 to $165.00 in a report on Wednesday, July 10th. Evercore ISI started coverage on shares of Quest Diagnostics in a research note on Wednesday, August 28th. They set an “in-line” rating and a $165.00 target price for the company. Truist Financial raised their price target on Quest Diagnostics from $150.00 to $158.00 and gave the company a “hold” rating in a research note on Monday, July 15th. StockNews.com raised Quest Diagnostics from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. increased their price objective on Quest Diagnostics from $152.00 to $155.00 and gave the company a “neutral” rating in a report on Thursday, May 30th. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $154.33.

Insider Transactions at Quest Diagnostics

In related news, SVP Mark E. Delaney sold 420 shares of Quest Diagnostics stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $143.08, for a total value of $60,093.60. Following the transaction, the senior vice president now directly owns 5,019 shares in the company, valued at approximately $718,118.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Quest Diagnostics news, SVP Karthik Kuppusamy sold 1,990 shares of Quest Diagnostics stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $153.26, for a total value of $304,987.40. Following the sale, the senior vice president now owns 11,459 shares of the company’s stock, valued at approximately $1,756,206.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Mark E. Delaney sold 420 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $143.08, for a total value of $60,093.60. Following the completion of the sale, the senior vice president now directly owns 5,019 shares of the company’s stock, valued at $718,118.52. The disclosure for this sale can be found here. Company 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.