Schwartz Investment Counsel Inc. Sells 166 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

Schwartz Investment Counsel Inc. cut its position in Quest Diagnostics Incorporated (NYSE:DGX) by 0.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 95,900 shares of the medical research company’s stock after selling 166 shares during the quarter. Schwartz Investment Counsel Inc. owned approximately 0.09% of Quest Diagnostics worth $14,467,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Versant Capital Management Inc raised its stake in shares of Quest Diagnostics by 340.4% during the 4th quarter. Versant Capital Management Inc now owns 251 shares of the medical research company’s stock worth $38,000 after acquiring an additional 194 shares in the last quarter. First Financial Corp IN purchased a new stake in Quest Diagnostics during the 4th quarter worth approximately $38,000. Global Trust Asset Management LLC purchased a new position in shares of Quest Diagnostics in the fourth quarter worth $49,000. Sentry Investment Management LLC acquired a new stake in shares of Quest Diagnostics during the third quarter worth $82,000. Finally, Board of the Pension Protection Fund purchased a new stake in shares of Quest Diagnostics during the fourth quarter valued at $91,000. 88.06% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Quest Diagnostics

In other news, Director Vicky B. Gregg sold 1,250 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $164.57, for a total transaction of $205,712.50. Following the completion of the transaction, the director now directly owns 16,867 shares in the company, valued at approximately $2,775,802.19. This represents a 6.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Mark E. Delaney sold 403 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $164.30, for a total transaction of $66,212.90. Following the completion of the sale, the senior vice president now owns 4,624 shares in the company, valued at approximately $759,723.20. This trade represents a 8.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.79% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on DGX. Leerink Partners raised Quest Diagnostics from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $169.00 to $174.00 in a report on Monday, January 6th. Barclays raised their target price on shares of Quest Diagnostics from $168.00 to $175.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Piper Sandler reaffirmed a “neutral” rating and issued a $180.00 price target (up from $165.00) on shares of Quest Diagnostics in a report on Monday, February 3rd. Morgan Stanley upgraded Quest Diagnostics from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $145.00 to $172.00 in a research note on Tuesday, December 17th. Finally, Truist Financial upped their target price on Quest Diagnostics from $172.00 to $182.00 and gave the stock a “hold” rating in a research note on Friday, January 31st. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $177.69.

Quest Diagnostics Trading Up 1.0 %

DGX stock opened at $166.82 on Wednesday. The business’s 50-day moving average is $155.51 and its 200 day moving average is $154.49. Quest Diagnostics Incorporated has a 12-month low of $123.30 and a 12-month high of $168.17. The stock has a market cap of $18.62 billion, a price-to-earnings ratio of 21.69, a PEG ratio of 2.04 and a beta of 0.91. The company has a current ratio of 1.10, a quick ratio of 1.02 and a debt-to-equity ratio of 0.82.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Thursday, January 30th. The medical research company reported $2.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.19 by $0.04. Quest Diagnostics had a return on equity of 15.07% and a net margin of 8.80%. On average, sell-side analysts anticipate that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.92%. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Monday, April 7th. Quest Diagnostics’s dividend payout ratio is 39.01%.

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.