Sumitomo Mitsui Trust Holdings Inc. Sells 2,297 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

Sumitomo Mitsui Trust Holdings Inc. reduced its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 306,428 shares of the medical research company’s stock after selling 2,297 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.27% of Quest Diagnostics worth $42,250,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Quest Diagnostics during the 3rd quarter valued at about $493,000. Raymond James & Associates boosted its holdings in Quest Diagnostics by 103.3% in the fourth quarter. Raymond James & Associates now owns 148,251 shares of the medical research company’s stock worth $20,441,000 after purchasing an additional 75,315 shares during the last quarter. CHURCHILL MANAGEMENT Corp bought a new stake in Quest Diagnostics in the 4th quarter worth approximately $1,483,000. Wellington Management Group LLP raised its stake in Quest Diagnostics by 14.6% during the 3rd 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, Pacer Advisors Inc. boosted its stake in shares of Quest Diagnostics by 201.5% in the 4th quarter. Pacer Advisors Inc. now owns 31,912 shares of the medical research company’s stock worth $4,400,000 after buying an additional 21,327 shares during the last quarter. 88.06% of the stock is currently owned by institutional investors.

Quest Diagnostics Trading Up 2.0 %

Shares of Quest Diagnostics stock opened at $128.44 on Friday. The company has a market capitalization of $14.26 billion, a P/E ratio of 17.15, a P/E/G ratio of 2.74 and a beta of 0.91. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.20 and a current ratio of 1.31. The company has a fifty day moving average of $128.32 and a 200 day moving average of $130.77. Quest Diagnostics Incorporated has a fifty-two week low of $119.59 and a fifty-two week high of $148.62.

Quest Diagnostics (NYSE:DGX) last issued its earnings results on Thursday, February 1st. The medical research company reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.11 by $0.04. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.25 billion. Quest Diagnostics had a net margin of 9.23% and a return on equity of 15.79%. Quest Diagnostics’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.98 EPS. On average, sell-side analysts anticipate 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 issued a $0.75 dividend. The ex-dividend date of this dividend is Friday, April 5th. This represents a $3.00 annualized dividend and a yield of 2.34%. This is an increase from Quest Diagnostics’s previous quarterly dividend of $0.71. Quest Diagnostics’s dividend payout ratio is currently 37.92%.

Analyst Upgrades and Downgrades

DGX has been the subject of a number of research reports. Truist Financial reiterated a “hold” rating and set a $145.00 price objective on shares of Quest Diagnostics in a research report on Wednesday, March 20th. StockNews.com cut shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Wednesday. Barclays began coverage on shares of Quest Diagnostics in a research report on Wednesday, January 3rd. They set an “equal weight” rating and a $145.00 target price for the company. Jefferies Financial Group upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating and increased their price target for the stock from $140.00 to $155.00 in a research report on Wednesday, February 7th. Finally, SVB Leerink started coverage on shares of Quest Diagnostics in a research report on Monday, February 26th. They set a “market perform” rating and a $135.00 price objective for the company. Ten research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $144.18.

Insider Buying and Selling

In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 5,611 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $125.88, for a total transaction of $706,312.68. Following the completion of the transaction, the senior vice president now owns 38,478 shares of the company’s stock, valued at approximately $4,843,610.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 5,611 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $125.88, for a total transaction of $706,312.68. Following the completion of the transaction, the senior vice president now owns 38,478 shares of the company’s stock, valued at approximately $4,843,610.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Vicky B. Gregg sold 2,500 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $126.64, for a total transaction of $316,600.00. Following the transaction, the director now directly owns 16,329 shares of the company’s stock, valued at approximately $2,067,904.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,150 shares of company stock valued at $1,913,202. Company insiders own 0.79% of the company’s stock.

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.