PNC Financial Services Group Inc. Acquires 1,481 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

PNC Financial Services Group Inc. raised its holdings in Quest Diagnostics Incorporated (NYSE:DGX) by 4.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 37,922 shares of the medical research company’s stock after acquiring an additional 1,481 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Quest Diagnostics were worth $5,721,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Sierra Ocean LLC acquired a new stake in Quest Diagnostics in the fourth quarter worth $33,000. Versant Capital Management Inc raised its holdings in Quest Diagnostics by 340.4% in the fourth quarter. Versant Capital Management Inc now owns 251 shares of the medical research company’s stock worth $38,000 after purchasing an additional 194 shares during the period. First Financial Corp IN acquired a new stake in Quest Diagnostics in the fourth quarter worth $38,000. FPC Investment Advisory Inc. acquired a new stake in Quest Diagnostics in the fourth quarter worth $45,000. Finally, Global Trust Asset Management LLC acquired a new stake in Quest Diagnostics in the fourth quarter worth $49,000. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Mark E. Delaney sold 403 shares of Quest Diagnostics stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $164.30, for a total transaction of $66,212.90. Following the completion of the sale, the senior vice president now owns 4,624 shares of the company’s stock, valued at approximately $759,723.20. The trade was a 8.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Vicky B. Gregg sold 1,250 shares of Quest Diagnostics stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $164.57, for a total transaction of $205,712.50. Following the completion of the sale, the director now owns 16,867 shares of the company’s stock, valued at $2,775,802.19. This trade represents a 6.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,514 shares of company stock valued at $1,634,445. Company insiders own 0.79% of the company’s stock.

Quest Diagnostics Stock Performance

Shares of DGX opened at $166.43 on Thursday. The firm has a 50-day moving average of $162.84 and a 200-day moving average of $157.94. Quest Diagnostics Incorporated has a one year low of $125.09 and a one year high of $178.87. The company has a market cap of $18.47 billion, a PE ratio of 21.64, a price-to-earnings-growth ratio of 2.16 and a beta of 0.92. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.10 and a quick ratio of 1.02.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings data on Thursday, January 30th. The medical research company reported $2.23 EPS for the quarter, beating analysts’ consensus estimates of $2.19 by $0.04. Quest Diagnostics had a net margin of 8.80% and a return on equity of 15.07%. As a group, equities analysts forecast that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current year.

Quest Diagnostics Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be issued a dividend of $0.80 per share. This is an increase from Quest Diagnostics’s previous quarterly dividend of $0.75. The ex-dividend date is Monday, April 7th. This represents a $3.20 annualized dividend and a dividend yield of 1.92%. Quest Diagnostics’s payout ratio is presently 41.61%.

Analyst Upgrades and Downgrades

DGX has been the topic of several analyst reports. JPMorgan Chase & Co. increased their target price on shares of Quest Diagnostics from $173.00 to $180.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Truist Financial raised their price objective on shares of Quest Diagnostics from $172.00 to $182.00 and gave the stock a “hold” rating in a report on Friday, January 31st. Jefferies Financial Group restated a “buy” rating and set a $185.00 price objective (up from $175.00) on shares of Quest Diagnostics in a report on Tuesday, December 10th. Mizuho raised their price objective on shares of Quest Diagnostics from $177.00 to $178.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Finally, UBS Group raised their price objective on shares of Quest Diagnostics from $166.00 to $170.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Eight investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Quest Diagnostics presently has a consensus rating of “Moderate Buy” and a consensus target price of $178.23.

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.