Quest Diagnostics Incorporated (NYSE:DGX) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund decreased its holdings in Quest Diagnostics Incorporated (NYSE:DGX) by 8.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,296 shares of the medical research company’s stock after selling 287 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Quest Diagnostics were worth $512,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Quest Diagnostics by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 13,921,955 shares of the medical research company’s stock worth $1,853,151,000 after buying an additional 345,754 shares during the period. Davis Selected Advisers raised its position in Quest Diagnostics by 0.4% during the second quarter. Davis Selected Advisers now owns 2,390,828 shares of the medical research company’s stock worth $327,257,000 after acquiring an additional 9,665 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Quest Diagnostics by 6.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,109,515 shares of the medical research company’s stock valued at $288,758,000 after purchasing an additional 129,395 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in shares of Quest Diagnostics by 2.1% in the third quarter. DekaBank Deutsche Girozentrale now owns 748,680 shares of the medical research company’s stock valued at $115,621,000 after purchasing an additional 15,047 shares during the period. Finally, abrdn plc increased its stake in shares of Quest Diagnostics by 3.1% during the third quarter. abrdn plc now owns 461,887 shares of the medical research company’s stock worth $71,500,000 after purchasing an additional 13,938 shares in the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Trading Up 1.0 %

Shares of Quest Diagnostics stock opened at $162.11 on Tuesday. The stock has a 50 day moving average of $153.99 and a 200 day moving average of $147.54. 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 $18.09 billion, a price-to-earnings ratio of 21.79, a PEG ratio of 2.77 and a beta of 0.89. Quest Diagnostics Incorporated has a fifty-two week low of $123.04 and a fifty-two week high of $162.72.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings data on Tuesday, October 22nd. The medical research company reported $2.30 earnings per share (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 firm had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same period last year, the company earned $2.22 EPS. The company’s quarterly revenue was up 8.5% on a year-over-year basis. As a group, research analysts predict that Quest Diagnostics Incorporated will post 8.9 earnings per share for the current year.

Quest Diagnostics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Tuesday, January 14th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, January 14th. This represents a $3.00 annualized dividend and a dividend yield of 1.85%. Quest Diagnostics’s dividend payout ratio is currently 40.32%.

Insider Buying and Selling

In other Quest Diagnostics news, SVP Karthik Kuppusamy sold 1,775 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $156.92, for a total transaction of $278,533.00. Following the transaction, the senior vice president now directly owns 9,734 shares in the company, valued at $1,527,459.28. This represents a 15.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Michael J. Deppe sold 18,755 shares of Quest Diagnostics stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $154.05, for a total value of $2,889,207.75. Following the completion of the sale, the chief accounting officer now directly owns 34,941 shares of the company’s stock, valued at $5,382,661.05. The trade was a 34.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,520 shares of company stock valued at $3,472,728. Company insiders own 0.79% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on DGX shares. Piper Sandler lifted their price objective on Quest Diagnostics from $150.00 to $165.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Barclays lifted their price target on Quest Diagnostics from $154.00 to $168.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 23rd. StockNews.com lowered Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Monday. Evercore ISI began coverage on shares of Quest Diagnostics in a research report on Wednesday, August 28th. They issued an “in-line” rating and a $165.00 target price for the company. Finally, Citigroup boosted their price target on shares of Quest Diagnostics from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Nine equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $164.58.

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.