SVB Wealth LLC Has $12.57 Million Stock Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

SVB Wealth LLC cut its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 24.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 91,155 shares of the medical research company’s stock after selling 29,087 shares during the period. SVB Wealth LLC owned 0.08% of Quest Diagnostics worth $12,568,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Quest Diagnostics by 4.8% during the first quarter. Vanguard Group Inc. now owns 14,014,030 shares of the medical research company’s stock valued at $1,917,961,000 after purchasing an additional 636,301 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Quest Diagnostics by 12.3% in the third quarter. American Century Companies Inc. now owns 3,554,517 shares of the medical research company’s stock valued at $433,153,000 after buying an additional 388,162 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Quest Diagnostics by 5.6% in the third quarter. Victory Capital Management Inc. now owns 3,414,514 shares of the medical research company’s stock valued at $416,093,000 after buying an additional 180,889 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Quest Diagnostics by 14.6% in the third quarter. Wellington Management Group LLP now owns 2,613,793 shares of the medical research company’s stock valued at $318,517,000 after buying an additional 333,947 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Quest Diagnostics by 36.8% in the third quarter. JPMorgan Chase & Co. now owns 2,001,347 shares of the medical research company’s stock valued at $243,884,000 after buying an additional 538,377 shares during the last quarter. 88.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on DGX. Leerink Partnrs reaffirmed a “market perform” rating on shares of Quest Diagnostics in a research report on Monday, February 26th. Barclays began coverage on Quest Diagnostics in a research report on Wednesday, January 3rd. They issued an “equal weight” rating and a $145.00 price objective for the company. Truist Financial reissued a “hold” rating and set a $145.00 price target on shares of Quest Diagnostics in a report on Wednesday, March 20th. StockNews.com raised Quest Diagnostics from a “hold” rating to a “buy” rating in a report on Tuesday, April 9th. Finally, Jefferies Financial Group raised Quest Diagnostics from a “hold” rating to a “buy” rating and lifted their price target for the stock from $140.00 to $155.00 in a report on Wednesday, February 7th. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $144.18.

Insider Activity at Quest Diagnostics

In related news, SVP Michael E. Prevoznik sold 661 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $126.14, for a total value of $83,378.54. Following the completion of the sale, the senior vice president now directly owns 40,206 shares of the company’s stock, valued at approximately $5,071,584.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Vicky B. Gregg sold 2,500 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $126.64, for a total value of $316,600.00. Following the completion of the sale, the director now directly owns 16,329 shares of the company’s stock, valued at $2,067,904.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Michael E. Prevoznik sold 661 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $126.14, for a total value of $83,378.54. Following the completion of the sale, the senior vice president now directly owns 40,206 shares of the company’s stock, valued at $5,071,584.84. The disclosure for this sale can be found here. Insiders sold 15,150 shares of company stock valued at $1,913,202 in the last three months. Corporate insiders own 0.79% of the company’s stock.

Quest Diagnostics Price Performance

Quest Diagnostics stock traded up $0.08 during mid-day trading on Tuesday, reaching $128.72. 113,876 shares of the company were exchanged, compared to its average volume of 1,024,694. The firm has a market cap of $14.30 billion, a PE ratio of 17.17, a PEG ratio of 2.77 and a beta of 0.91. Quest Diagnostics Incorporated has a 12 month low of $119.59 and a 12 month high of $148.62. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.31 and a quick ratio of 1.20. The company has a fifty day simple moving average of $128.28 and a 200-day simple moving average of $130.74.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings data on Thursday, February 1st. The medical research company reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.11 by $0.04. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.25 billion. Quest Diagnostics had a return on equity of 15.79% and a net margin of 9.23%. Quest Diagnostics’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.98 EPS. As a group, equities research analysts expect that Quest Diagnostics Incorporated will post 8.75 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 22nd. Investors of record on Monday, April 8th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.33%. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Friday, April 5th. Quest Diagnostics’s payout ratio is presently 37.92%.

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.