Argent Trust Co Reduces Stock Position in Quest Diagnostics Incorporated (NYSE:DGX)

Argent Trust Co decreased its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 0.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,248 shares of the medical research company’s stock after selling 269 shares during the period. Argent Trust Co’s holdings in Quest Diagnostics were worth $4,414,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Arkadios Wealth Advisors increased its holdings in shares of Quest Diagnostics by 1.6% in the first quarter. Arkadios Wealth Advisors now owns 4,933 shares of the medical research company’s stock worth $657,000 after purchasing an additional 77 shares during the last quarter. New England Capital Financial Advisors LLC grew its holdings in shares of Quest Diagnostics by 24.7% in the first quarter. New England Capital Financial Advisors LLC now owns 389 shares of the medical research company’s stock valued at $52,000 after purchasing an additional 77 shares in the last quarter. Meeder Advisory Services Inc. increased its position in Quest Diagnostics by 4.9% in the second quarter. Meeder Advisory Services Inc. now owns 1,795 shares of the medical research company’s stock worth $246,000 after purchasing an additional 84 shares during the last quarter. Keudell Morrison Wealth Management raised its stake in Quest Diagnostics by 3.8% during the first quarter. Keudell Morrison Wealth Management now owns 2,312 shares of the medical research company’s stock valued at $308,000 after purchasing an additional 85 shares in the last quarter. Finally, Arjuna Capital lifted its position in Quest Diagnostics by 5.2% during the first quarter. Arjuna Capital now owns 1,770 shares of the medical research company’s stock valued at $236,000 after purchasing an additional 88 shares during the last quarter. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

Quest Diagnostics Price Performance

Shares of DGX stock opened at $155.39 on Wednesday. The company’s 50-day simple moving average is $149.90 and its two-hundred day simple moving average is $140.48. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.00 and a quick ratio of 0.91. Quest Diagnostics Incorporated has a one year low of $119.59 and a one year high of $159.36. The company has a market capitalization of $17.26 billion, a P/E ratio of 20.91, a P/E/G ratio of 2.80 and a beta of 0.89.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings data on Tuesday, July 23rd. The medical research company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.31 by $0.04. Quest Diagnostics had a return on equity of 15.35% and a net margin of 8.99%. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same period last year, the business posted $2.30 EPS. Quest Diagnostics’s quarterly revenue was up 2.5% on a year-over-year basis. As a group, equities analysts anticipate that Quest Diagnostics Incorporated will post 8.89 EPS for the current year.

Quest Diagnostics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Friday, October 4th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.93%. The ex-dividend date is Friday, October 4th. Quest Diagnostics’s payout ratio is 40.38%.

Insider Buying and Selling

In other news, SVP Karthik Kuppusamy sold 1,990 shares of Quest Diagnostics stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $153.26, for a total value of $304,987.40. Following the transaction, the senior vice president now directly owns 11,459 shares in the company, valued at approximately $1,756,206.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Karthik Kuppusamy sold 1,990 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $153.26, for a total transaction of $304,987.40. Following the transaction, the senior vice president now owns 11,459 shares in the company, valued at $1,756,206.34. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 completion of the sale, the senior vice president now owns 5,019 shares of the company’s stock, valued at $718,118.52. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Barclays increased their price target on shares of Quest Diagnostics from $144.00 to $154.00 and gave the company an “equal weight” rating in a report on Tuesday, August 27th. JPMorgan Chase & Co. lifted their target price on Quest Diagnostics from $152.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. Robert W. Baird increased their price target on Quest Diagnostics from $153.00 to $154.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Truist Financial lifted their price objective on shares of Quest Diagnostics from $150.00 to $158.00 and gave the stock a “hold” rating in a research note on Monday, July 15th. Finally, Citigroup raised shares of Quest Diagnostics from a “neutral” rating to a “buy” rating and increased their target price for the company from $145.00 to $165.00 in a research note on Wednesday, July 10th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $154.33.

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.