FineMark National Bank & Trust Decreases Stock Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

FineMark National Bank & Trust lessened its stake in Quest Diagnostics Incorporated (NYSE:DGX) by 1.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 42,102 shares of the medical research company’s stock after selling 532 shares during the quarter. FineMark National Bank & Trust’s holdings in Quest Diagnostics were worth $6,352,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Sierra Ocean LLC acquired a new stake in shares of Quest Diagnostics in the 4th quarter worth $33,000. Versant Capital Management Inc increased its position in Quest Diagnostics by 340.4% during the fourth quarter. Versant Capital Management Inc now owns 251 shares of the medical research company’s stock worth $38,000 after purchasing an additional 194 shares during the last quarter. First Financial Corp IN purchased a new position in Quest Diagnostics during the fourth quarter worth about $38,000. FPC Investment Advisory Inc. acquired a new position in Quest Diagnostics in the 4th quarter valued at about $45,000. Finally, Global Trust Asset Management LLC purchased a new stake in shares of Quest Diagnostics in the 4th quarter valued at approximately $49,000. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Insider Transactions at Quest Diagnostics

In related news, SVP Mark E. Delaney sold 403 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was 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 of the company’s stock, valued at $759,723.20. This represents a 8.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Catherine T. Doherty sold 535 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $169.71, for a total transaction of $90,794.85. Following the sale, the executive vice president now directly owns 71,356 shares in the company, valued at approximately $12,109,826.76. The trade was a 0.74 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,157 shares of company stock valued at $2,423,755. 0.79% of the stock is currently owned by corporate insiders.

Quest Diagnostics Stock Performance

Shares of DGX opened at $167.35 on Tuesday. The stock has a 50-day simple moving average of $165.45 and a 200-day simple moving average of $158.73. 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 Incorporated has a 1 year low of $125.42 and a 1 year high of $178.87. The stock has a market capitalization of $18.57 billion, a PE ratio of 21.76, a PEG ratio of 2.16 and a beta of 0.92.

Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings results on Thursday, January 30th. The medical research company reported $2.23 EPS 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%. On average, analysts predict that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal year.

Quest Diagnostics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.91%. This is an increase from Quest Diagnostics’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Monday, April 7th. Quest Diagnostics’s payout ratio is 41.61%.

Analyst Ratings Changes

A number of research firms recently commented on DGX. UBS Group upped their price objective on Quest Diagnostics from $166.00 to $170.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Leerink Partners raised Quest Diagnostics from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $169.00 to $174.00 in a research report on Monday, January 6th. Morgan Stanley raised shares of Quest Diagnostics from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $145.00 to $172.00 in a research report on Tuesday, December 17th. Mizuho boosted their price target on shares of Quest Diagnostics from $177.00 to $178.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $180.00 price objective (up previously from $165.00) on shares of Quest Diagnostics in a research report on Monday, February 3rd. Eight equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $178.38.

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.