Foster & Motley Inc. Reduces Stock Position in Quest Diagnostics Incorporated (NYSE:DGX)

Foster & Motley Inc. decreased its position in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 6.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,716 shares of the medical research company’s stock after selling 2,362 shares during the quarter. Foster & Motley Inc.’s holdings in Quest Diagnostics were worth $5,234,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Legacy Financial Advisors Inc. boosted its position in Quest Diagnostics by 1.6% during the second quarter. Legacy Financial Advisors Inc. now owns 4,697 shares of the medical research company’s stock worth $643,000 after purchasing an additional 72 shares in the last quarter. Meeder Advisory Services Inc. boosted its position 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 worth $246,000 after buying an additional 84 shares in the last quarter. Keudell Morrison Wealth Management grew its stake in Quest Diagnostics by 3.8% in the 1st quarter. Keudell Morrison Wealth Management now owns 2,312 shares of the medical research company’s stock valued at $308,000 after acquiring an additional 85 shares during the last quarter. Arjuna Capital raised its position in 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 acquiring an additional 88 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Quest Diagnostics by 6.8% in the third quarter. Blue Trust Inc. now owns 1,392 shares of the medical research company’s stock valued at $216,000 after purchasing an additional 89 shares in the last quarter. Institutional investors and hedge funds own 88.06% of the company’s stock.

Quest Diagnostics Stock Performance

Shares of DGX stock opened at $154.16 on Wednesday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.17 and a current ratio of 1.25. The firm has a market capitalization of $17.21 billion, a price-to-earnings ratio of 20.72, a price-to-earnings-growth ratio of 2.68 and a beta of 0.89. Quest Diagnostics Incorporated has a one year low of $123.04 and a one year high of $160.95. The company has a 50 day moving average price of $153.47 and a 200 day moving average price of $146.26.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings data on Tuesday, October 22nd. The medical research company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.04. Quest Diagnostics had a return on equity of 15.25% and a net margin of 8.82%. The business had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the prior year, the firm posted $2.22 EPS. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. Sell-side analysts anticipate that Quest Diagnostics Incorporated will post 8.9 EPS for the current year.

Quest Diagnostics Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Friday, October 4th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.95%. The ex-dividend date was Friday, October 4th. Quest Diagnostics’s dividend payout ratio is currently 40.32%.

Insider Transactions at Quest Diagnostics

In related news, SVP Karthik Kuppusamy sold 1,990 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $153.26, for a total value of $304,987.40. Following the transaction, the senior vice president now owns 11,459 shares in the company, valued at approximately $1,756,206.34. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Robert W. Baird upgraded Quest Diagnostics from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $157.00 to $182.00 in a research report on Wednesday, October 23rd. Truist Financial increased their price objective on Quest Diagnostics from $158.00 to $165.00 and gave the company a “hold” rating in a research note on Monday, October 7th. Piper Sandler boosted their target price on shares of Quest Diagnostics from $150.00 to $165.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. Baird R W raised shares of Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 23rd. Finally, Barclays boosted their price objective on shares of Quest Diagnostics from $154.00 to $168.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 23rd. Eight analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $164.58.

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.