ICW Investment Advisors LLC Lowers Stock Position in Quest Diagnostics Incorporated (NYSE:DGX)

ICW Investment Advisors LLC cut its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 1.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,062 shares of the medical research company’s stock after selling 170 shares during the period. ICW Investment Advisors LLC’s holdings in Quest Diagnostics were worth $1,669,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. State Street Corp grew its stake in shares of Quest Diagnostics by 1.4% during the 3rd quarter. State Street Corp now owns 5,263,231 shares of the medical research company’s stock valued at $817,117,000 after buying an additional 70,578 shares during the period. Geode Capital Management LLC boosted its position in Quest Diagnostics by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,616,653 shares of the medical research company’s stock worth $404,838,000 after purchasing an additional 39,217 shares during the period. Bank of New York Mellon Corp boosted its position in Quest Diagnostics by 14.8% during the 4th quarter. Bank of New York Mellon Corp now owns 881,764 shares of the medical research company’s stock worth $133,023,000 after purchasing an additional 113,956 shares during the period. Amundi boosted its position in Quest Diagnostics by 10.8% during the 4th quarter. Amundi now owns 795,485 shares of the medical research company’s stock worth $122,528,000 after purchasing an additional 77,559 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in Quest Diagnostics by 25.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 747,298 shares of the medical research company’s stock worth $116,018,000 after purchasing an additional 151,365 shares during the period. 88.06% of the stock is owned by hedge funds and other institutional investors.

Quest Diagnostics Stock Performance

Shares of Quest Diagnostics stock opened at $166.96 on Monday. The firm has a market cap of $18.53 billion, a PE ratio of 21.71, a price-to-earnings-growth ratio of 2.16 and a beta of 0.92. Quest Diagnostics Incorporated has a 1 year low of $125.42 and a 1 year high of $178.87. The firm’s 50-day simple moving average is $165.18 and its 200-day simple moving average is $158.64. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.02 and a current ratio of 1.10.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings data on Thursday, January 30th. The medical research company reported $2.23 earnings per share for the quarter, topping 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%. Equities analysts forecast that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal year.

Quest Diagnostics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be given a $0.80 dividend. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.20 annualized dividend and a yield of 1.92%. Quest Diagnostics’s dividend payout ratio is 41.61%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on DGX. Barclays upped their price target on shares of Quest Diagnostics from $168.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Truist Financial boosted 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. Piper Sandler reiterated a “neutral” rating and issued a $180.00 price objective (up previously from $165.00) on shares of Quest Diagnostics in a report on Monday, February 3rd. 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, March 4th. Finally, Robert W. Baird boosted their price objective on shares of Quest Diagnostics from $190.00 to $191.00 and gave the stock an “outperform” rating in a report on Thursday. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $178.38.

Insiders Place Their Bets

In other news, SVP Mark E. Delaney sold 403 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $164.30, for a total value of $66,212.90. Following the completion of the transaction, the senior vice president now directly owns 4,624 shares in the company, valued at $759,723.20. This trade represents a 8.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Catherine T. Doherty sold 5,370 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $174.13, for a total transaction of $935,078.10. Following the completion of the transaction, the executive vice president now owns 68,068 shares of the company’s stock, valued at $11,852,680.84. This trade represents a 7.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,157 shares of company stock worth $2,423,755. 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.