Truvestments Capital LLC Trims Stake in Quest Diagnostics Incorporated (NYSE:DGX)

Truvestments Capital LLC lowered its position in Quest Diagnostics Incorporated (NYSE:DGX) by 83.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,160 shares of the medical research company’s stock after selling 5,953 shares during the quarter. Truvestments Capital LLC’s holdings in Quest Diagnostics were worth $154,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank bought a new position in Quest Diagnostics in the 4th quarter worth about $140,472,000. Nuance Investments LLC bought a new position in shares of Quest Diagnostics in the fourth quarter worth approximately $83,070,000. M&G Plc purchased a new stake in Quest Diagnostics in the first quarter valued at approximately $46,432,000. Vanguard Group Inc. lifted its position in Quest Diagnostics by 2.5% during the first quarter. Vanguard Group Inc. now owns 13,921,955 shares of the medical research company’s stock valued at $1,853,151,000 after purchasing an additional 345,754 shares during the last quarter. Finally, Pathstone Holdings LLC purchased a new position in Quest Diagnostics in the 4th quarter worth approximately $46,342,000. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Trading Up 0.9 %

DGX traded up $1.34 during midday trading on Friday, reaching $145.59. 1,282,555 shares of the company’s stock traded hands, compared to its average volume of 946,174. Quest Diagnostics Incorporated has a 52 week low of $119.59 and a 52 week high of $150.59. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.00 and a quick ratio of 0.89. The firm has a fifty day moving average of $141.12 and a two-hundred day moving average of $134.43. The stock has a market capitalization of $16.21 billion, a price-to-earnings ratio of 19.59, a P/E/G ratio of 2.65 and a beta of 0.89.

Quest Diagnostics (NYSE:DGX) last announced its earnings results on Tuesday, July 23rd. The medical research company reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.04. The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.39 billion. Quest Diagnostics had a return on equity of 15.35% and a net margin of 8.99%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.30 earnings per share. On average, equities analysts anticipate that Quest Diagnostics Incorporated will post 8.89 earnings per share for the current fiscal year.

Quest Diagnostics Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Monday, July 8th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.06%. The ex-dividend date was Monday, July 8th. Quest Diagnostics’s dividend payout ratio is currently 40.38%.

Insider Buying and Selling

In other Quest Diagnostics news, SVP Mark E. Delaney sold 420 shares of Quest Diagnostics stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $143.08, for a total transaction of $60,093.60. Following the sale, the senior vice president now directly owns 5,019 shares of the company’s stock, valued at approximately $718,118.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, SVP Karthik Kuppusamy sold 1,760 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $140.00, for a total value of $246,400.00. Following the completion of the transaction, the senior vice president now directly owns 13,435 shares in the company, valued at approximately $1,880,900. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Mark E. Delaney sold 420 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $143.08, for a total transaction of $60,093.60. Following the sale, the senior vice president now directly owns 5,019 shares in the company, valued at approximately $718,118.52. The disclosure for this sale can be found here. 0.79% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on DGX. Mizuho lifted their price objective on shares of Quest Diagnostics from $150.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Robert W. Baird upped their price objective on Quest Diagnostics from $153.00 to $154.00 and gave the stock a “neutral” rating in a report on Wednesday. Citigroup upgraded Quest Diagnostics from a “neutral” rating to a “buy” rating and increased their price objective for the company from $145.00 to $165.00 in a research report on Wednesday, July 10th. Truist Financial upped their target price on Quest Diagnostics from $150.00 to $158.00 and gave the stock a “hold” rating in a research note on Monday, July 15th. Finally, StockNews.com raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $149.38.

Quest Diagnostics Company 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.