Peapack Gladstone Financial Corp Lowers Position in Quest Diagnostics Incorporated (NYSE:DGX)

Peapack Gladstone Financial Corp lessened its position in Quest Diagnostics Incorporated (NYSE:DGXFree Report) by 2.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,927 shares of the medical research company’s stock after selling 248 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Quest Diagnostics were worth $1,368,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NBC Securities Inc. bought a new stake in shares of Quest Diagnostics in the 3rd quarter worth $25,000. Jump Financial LLC increased its holdings in shares of Quest Diagnostics by 4.9% in the 3rd quarter. Jump Financial LLC now owns 3,786 shares of the medical research company’s stock worth $461,000 after purchasing an additional 177 shares in the last quarter. Kestra Private Wealth Services LLC bought a new stake in shares of Quest Diagnostics in the 3rd quarter worth $212,000. Amalgamated Bank increased its holdings in shares of Quest Diagnostics by 1.9% in the 3rd quarter. Amalgamated Bank now owns 29,420 shares of the medical research company’s stock worth $3,585,000 after purchasing an additional 556 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its holdings in shares of Quest Diagnostics by 4.8% in the 3rd quarter. First Eagle Investment Management LLC now owns 3,849 shares of the medical research company’s stock worth $469,000 after purchasing an additional 178 shares in the last quarter. Institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Stock Up 0.8 %

Shares of NYSE DGX opened at $142.69 on Thursday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.89 and a current ratio of 0.97. The firm has a market capitalization of $15.85 billion, a price-to-earnings ratio of 19.20, a PEG ratio of 3.07 and a beta of 0.90. The stock has a 50 day moving average price of $136.20 and a 200 day moving average price of $133.42. Quest Diagnostics Incorporated has a 52-week low of $119.59 and a 52-week high of $145.62.

Quest Diagnostics (NYSE:DGXGet Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The medical research company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.18. The firm had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.29 billion. Quest Diagnostics had a return on equity of 15.52% and a net margin of 9.11%. Quest Diagnostics’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.04 earnings per share. Sell-side analysts expect that Quest Diagnostics Incorporated will post 8.79 earnings per share for the current year.

Quest Diagnostics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 22nd. Shareholders of record on Monday, July 8th will be issued a dividend of $0.75 per share. The ex-dividend date is Monday, July 8th. This represents a $3.00 dividend on an annualized basis and a yield of 2.10%. Quest Diagnostics’s dividend payout ratio is currently 38.22%.

Insiders Place Their Bets

In other Quest Diagnostics news, SVP Karthik Kuppusamy sold 1,760 shares of the company’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $140.00, for a total transaction of $246,400.00. Following the completion of the sale, the senior vice president now owns 13,435 shares in the company, valued at $1,880,900. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.79% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. SVB Leerink assumed coverage on Quest Diagnostics in a report on Monday, February 26th. They issued a “market perform” rating and a $135.00 target price for the company. Jefferies Financial Group upgraded Quest Diagnostics from a “hold” rating to a “buy” rating and raised their price target for the stock from $140.00 to $155.00 in a research note on Wednesday, February 7th. Truist Financial raised their price target on Quest Diagnostics from $145.00 to $150.00 and gave the stock a “hold” rating in a research note on Wednesday, April 24th. Mizuho raised their price target on Quest Diagnostics from $150.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Finally, StockNews.com upgraded Quest Diagnostics from a “hold” rating to a “buy” rating in a research note on Friday, May 24th. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $146.67.

Read Our Latest Analysis on DGX

Quest Diagnostics Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Quest Diagnostics (NYSE:DGX)

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