Moody National Bank Trust Division Cuts Stock Position in Quest Diagnostics Incorporated (NYSE:DGX)

Moody National Bank Trust Division lessened its holdings in Quest Diagnostics Incorporated (NYSE:DGX) by 39.4% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,481 shares of the medical research company’s stock after selling 963 shares during the period. Moody National Bank Trust Division’s holdings in Quest Diagnostics were worth $203,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of 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 in the last quarter. Victory Capital Management Inc. grew its position in shares of Quest Diagnostics by 1.8% during the fourth quarter. Victory Capital Management Inc. now owns 3,476,628 shares of the medical research company’s stock valued at $479,357,000 after purchasing an additional 62,114 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Quest Diagnostics by 0.7% during the fourth quarter. Wellington Management Group LLP now owns 2,632,326 shares of the medical research company’s stock valued at $362,945,000 after purchasing an additional 18,533 shares in the last quarter. Norges Bank purchased a new position in shares of Quest Diagnostics during the fourth quarter valued at about $140,472,000. Finally, Nuance Investments LLC grew its position in shares of Quest Diagnostics by 13.1% during the first quarter. Nuance Investments LLC now owns 681,636 shares of the medical research company’s stock valued at $90,733,000 after purchasing an additional 79,152 shares in the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Trading Up 0.8 %

NYSE DGX traded up $1.10 during trading on Tuesday, hitting $146.89. The stock had a trading volume of 822,054 shares, compared to its average volume of 999,850. The stock has a 50 day simple moving average of $141.41 and a 200 day simple moving average of $134.77. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.91 and a current ratio of 1.00. Quest Diagnostics Incorporated has a one year low of $119.59 and a one year high of $151.78. The stock has a market capitalization of $16.35 billion, a price-to-earnings ratio of 19.61, a P/E/G ratio of 2.69 and a beta of 0.89.

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

Quest Diagnostics Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 22nd. Stockholders of record on Monday, July 8th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.04%. The ex-dividend date was Monday, July 8th. Quest Diagnostics’s dividend payout ratio is presently 40.38%.

Insider Activity at Quest Diagnostics

In related news, SVP Mark E. Delaney sold 420 shares of Quest Diagnostics stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $143.08, for a total transaction of $60,093.60. Following the transaction, the senior vice president now directly owns 5,019 shares of the company’s stock, valued at $718,118.52. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.79% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

DGX has been the subject of a number of research analyst reports. Truist Financial raised their price objective on Quest Diagnostics from $150.00 to $158.00 and gave the company a “hold” rating in a research report on Monday, July 15th. JPMorgan Chase & Co. increased their price target on shares of Quest Diagnostics from $152.00 to $155.00 and gave the company a “neutral” rating in a report on Thursday, May 30th. Robert W. Baird increased their price target on shares of Quest Diagnostics from $153.00 to $154.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Piper Sandler increased their price target on shares of Quest Diagnostics from $145.00 to $150.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Finally, UBS Group increased their price target on shares of Quest Diagnostics from $139.00 to $146.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Quest Diagnostics currently has an average rating of “Hold” and a consensus price target of $150.58.

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.