Insider Selling: Quest Diagnostics Incorporated (NYSE:DGX) CEO Sells 282,408 Shares of Stock

Quest Diagnostics Incorporated (NYSE:DGXGet Rating) CEO Stephen H. Rusckowski sold 282,408 shares of the firm’s stock in a transaction dated Tuesday, May 24th. The stock was sold at an average price of $140.12, for a total transaction of $39,571,008.96. Following the sale, the chief executive officer now directly owns 334,833 shares in the company, valued at $46,916,799.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

NYSE DGX traded up $0.94 during mid-day trading on Wednesday, hitting $141.03. The company’s stock had a trading volume of 841,110 shares, compared to its average volume of 1,230,643. Quest Diagnostics Incorporated has a 52-week low of $125.77 and a 52-week high of $174.16. The stock’s fifty day simple moving average is $138.16 and its two-hundred day simple moving average is $143.87. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.46 and a quick ratio of 1.34. The firm has a market capitalization of $16.55 billion, a P/E ratio of 9.39 and a beta of 1.05.

Quest Diagnostics (NYSE:DGXGet Rating) last posted its quarterly earnings data on Thursday, April 21st. The medical research company reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.91 by $0.31. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.64 billion. Quest Diagnostics had a net margin of 17.61% and a return on equity of 27.08%. The business’s quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter last year, the firm posted $3.76 earnings per share. On average, equities analysts forecast that Quest Diagnostics Incorporated will post 9.31 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 20th. Stockholders of record on Wednesday, July 6th will be paid a dividend of $0.66 per share. The ex-dividend date is Tuesday, July 5th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.87%. Quest Diagnostics’s dividend payout ratio is currently 17.58%.

Institutional investors and hedge funds have recently bought and sold shares of the company. Mystic Asset Management Inc. purchased a new stake in shares of Quest Diagnostics during the fourth quarter valued at approximately $25,000. Wagner Wealth Management LLC purchased a new stake in shares of Quest Diagnostics during the fourth quarter valued at approximately $35,000. Sandy Cove Advisors LLC purchased a new stake in shares of Quest Diagnostics during the first quarter valued at approximately $28,000. Anfield Capital Management LLC raised its stake in shares of Quest Diagnostics by 1,077.8% during the fourth quarter. Anfield Capital Management LLC now owns 212 shares of the medical research company’s stock valued at $37,000 after purchasing an additional 194 shares during the period. Finally, Lindbrook Capital LLC raised its stake in shares of Quest Diagnostics by 62.3% during the fourth quarter. Lindbrook Capital LLC now owns 245 shares of the medical research company’s stock valued at $42,000 after purchasing an additional 94 shares during the period. Institutional investors own 89.89% of the company’s stock.

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group cut shares of Quest Diagnostics from a “buy” rating to a “hold” rating and set a $135.00 target price on the stock. in a research report on Wednesday, February 2nd. Morgan Stanley decreased their target price on shares of Quest Diagnostics from $159.00 to $145.00 and set an “equal weight” rating on the stock in a research report on Monday, February 14th. StockNews.com raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a research report on Wednesday, May 18th. Bank of America decreased their target price on shares of Quest Diagnostics from $166.00 to $163.00 and set a “buy” rating on the stock in a research report on Friday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft cut shares of Quest Diagnostics from a “buy” rating to a “hold” rating and decreased their target price for the stock from $190.00 to $129.00 in a research report on Friday, January 28th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $150.92.

Quest Diagnostics Company Profile (Get Rating)

Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic information services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.

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