Country Club Bank Sells 515 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

Country Club Bank cut its stake in Quest Diagnostics Incorporated (NYSE:DGX) by 5.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,320 shares of the medical research company’s stock after selling 515 shares during the period. Country Club Bank’s holdings in Quest Diagnostics were worth $1,288,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in DGX. Rothschild Investment LLC bought a new position in shares of Quest Diagnostics in the second quarter worth about $26,000. Innealta Capital LLC bought a new position in shares of Quest Diagnostics in the second quarter worth about $31,000. Larson Financial Group LLC grew its holdings in shares of Quest Diagnostics by 77.5% in the second quarter. Larson Financial Group LLC now owns 229 shares of the medical research company’s stock worth $31,000 after purchasing an additional 100 shares during the last quarter. TruNorth Capital Management LLC bought a new position in shares of Quest Diagnostics in the second quarter worth about $33,000. Finally, EdgeRock Capital LLC bought a new position in shares of Quest Diagnostics in the second quarter worth about $35,000. 88.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on DGX. Citigroup upped their price target on shares of Quest Diagnostics from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday. Truist Financial upped their price objective on shares of Quest Diagnostics from $158.00 to $165.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. Barclays upped their price objective on shares of Quest Diagnostics from $154.00 to $168.00 and gave the stock an “equal weight” rating in a research note on Wednesday. UBS Group upped their price objective on shares of Quest Diagnostics from $165.00 to $166.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Baird R W raised shares of Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Nine equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $163.33.

Quest Diagnostics Stock Performance

DGX stock opened at $155.04 on Friday. The firm has a market cap of $17.22 billion, a price-to-earnings ratio of 20.87, a PEG ratio of 2.45 and a beta of 0.89. The firm has a 50-day simple moving average of $153.12 and a two-hundred day simple moving average of $144.83. Quest Diagnostics Incorporated has a one year low of $123.04 and a one year high of $160.95. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.91 and a current ratio of 1.00.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings results on Tuesday, October 22nd. The medical research company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.26 by $0.04. The business had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.43 billion. Quest Diagnostics had a net margin of 8.99% and a return on equity of 15.35%. The company’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.22 earnings per share. On average, equities analysts forecast that Quest Diagnostics Incorporated will post 8.89 EPS for the current fiscal year.

Quest Diagnostics Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Friday, October 4th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.93%. The ex-dividend date was Friday, October 4th. Quest Diagnostics’s payout ratio is currently 40.38%.

Insider Activity at Quest Diagnostics

In related news, SVP Karthik Kuppusamy sold 1,990 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $153.26, for a total value of $304,987.40. Following the completion of the transaction, the senior vice president now directly owns 11,459 shares of the company’s stock, valued at $1,756,206.34. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.79% of the stock is currently owned by insiders.

About Quest Diagnostics

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.