Insider Selling: Quest Diagnostics (NYSE:DGX) SVP Sells $3,015,252.78 in Stock

Quest Diagnostics Incorporated (NYSE:DGX) SVP Patrick Plewman sold 11,717 shares of the business’s stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $257.34, for a total value of $3,015,252.78. Following the transaction, the senior vice president directly owned 14,684 shares of the company’s stock, valued at $3,778,780.56. This represents a 44.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Quest Diagnostics Stock Performance

NYSE:DGX traded up $0.52 during mid-day trading on Thursday, hitting $259.21. 841,556 shares of the company’s stock traded hands, compared to its average volume of 983,800. The firm has a market capitalization of $28.52 billion, a price-to-earnings ratio of 23.43, a price-to-earnings-growth ratio of 2.32 and a beta of 0.55. The firm has a 50 day moving average of $240.83 and a two-hundred day moving average of $215.21. The company has a current ratio of 1.70, a quick ratio of 1.58 and a debt-to-equity ratio of 0.70. Quest Diagnostics Incorporated has a 12 month low of $171.18 and a 12 month high of $262.00.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Thursday, October 22nd. The medical research company reported $3.00 EPS for the quarter, topping the consensus estimate of $2.87 by $0.13. Quest Diagnostics had a return on equity of 16.21% and a net margin of 9.53%. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the previous year, the business posted $2.60 EPS. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, equities analysts forecast that Quest Diagnostics Incorporated will post 11.29 earnings per share for the current fiscal year.

Quest Diagnostics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 27th. Investors of record on Tuesday, January 12th will be given a dividend of $0.86 per share. The ex-dividend date of this dividend is Tuesday, January 12th. This represents a $3.44 dividend on an annualized basis and a yield of 1.3%. Quest Diagnostics’s payout ratio is 34.26%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. BlackRock Inc. bought a new position in Quest Diagnostics in the second quarter worth $1,965,923,000. Bank of America Corp DE bought a new stake in Quest Diagnostics in the 2nd quarter valued at $410,151,000. Legal & General Group Plc bought a new stake in Quest Diagnostics in the 2nd quarter valued at $151,986,000. Bank of New York Mellon Corp acquired a new position in shares of Quest Diagnostics in the 2nd quarter valued at $133,388,000. Finally, Deutsche Bank AG acquired a new position in shares of Quest Diagnostics in the 2nd quarter valued at $124,180,000. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on DGX. Truist Financial increased their price target on shares of Quest Diagnostics from $250.00 to $260.00 and gave the company a “hold” rating in a report on Monday, September 21st. Argus set a $260.00 price target on shares of Quest Diagnostics in a research report on Wednesday, July 29th. Robert W. Baird set a $262.00 price objective on shares of Quest Diagnostics in a report on Friday, October 23rd. Jefferies Financial Group reaffirmed a “buy” rating and set a $245.00 price objective on shares of Quest Diagnostics in a research report on Thursday, July 23rd. Finally, Wall Street Zen raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a research report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Quest Diagnostics presently has an average rating of “Moderate Buy” and a consensus target price of $248.70.

About Quest Diagnostics

Quest Diagnostics (NYSE: DGX) is a provider of diagnostic information services, conducting laboratory tests that help physicians and other health care professionals diagnose, monitor and manage medical conditions. Its services include routine blood and other clinical laboratory testing, anatomic pathology, and specialized molecular and genetic testing. The company serves patients, physicians, hospitals, health plans, employers and government organizations. In addition to testing performed through its laboratories and patient service centers, Quest offers services such as workplace drug testing and diagnostic support for clinical research.