Mutual of America Capital Management LLC Reduces Stock Position in Quest Diagnostics Incorporated (NYSE:DGX)

Mutual of America Capital Management LLC lowered its position in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 3.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,937 shares of the medical research company’s stock after selling 463 shares during the period. Mutual of America Capital Management LLC’s holdings in Quest Diagnostics were worth $2,189,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in DGX. Bruce G. Allen Investments LLC lifted its position in shares of Quest Diagnostics by 57.8% in the 1st quarter. Bruce G. Allen Investments LLC now owns 183 shares of the medical research company’s stock worth $31,000 after purchasing an additional 67 shares during the period. First Horizon Advisors Inc. lifted its position in shares of Quest Diagnostics by 76.6% in the 1st quarter. First Horizon Advisors Inc. now owns 189 shares of the medical research company’s stock worth $32,000 after purchasing an additional 82 shares during the period. Golden State Wealth Management LLC lifted its position in shares of Quest Diagnostics by 157.3% in the 1st quarter. Golden State Wealth Management LLC now owns 193 shares of the medical research company’s stock worth $33,000 after purchasing an additional 118 shares during the period. NBC Securities Inc. purchased a new stake in shares of Quest Diagnostics in the 1st quarter worth about $35,000. Finally, Continuum Advisory LLC lifted its position in shares of Quest Diagnostics by 11,100.0% in the 1st quarter. Continuum Advisory LLC now owns 224 shares of the medical research company’s stock worth $38,000 after purchasing an additional 222 shares during the period. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DGX. Truist Financial raised their price objective on shares of Quest Diagnostics from $182.00 to $190.00 and gave the company a “hold” rating in a research note on Wednesday, April 23rd. Robert W. Baird raised their price target on shares of Quest Diagnostics from $191.00 to $194.00 and gave the company an “outperform” rating in a report on Wednesday, April 23rd. Barclays raised their price target on shares of Quest Diagnostics from $175.00 to $185.00 and gave the company an “equal weight” rating in a report on Wednesday, April 23rd. Mizuho raised their price objective on shares of Quest Diagnostics from $178.00 to $189.00 and gave the stock an “outperform” rating in a report on Wednesday, April 9th. Finally, Redburn Atlantic initiated coverage on shares of Quest Diagnostics in a report on Wednesday, April 2nd. They issued a “buy” rating and a $195.00 price objective on the stock. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $186.07.

Insider Buying and Selling at Quest Diagnostics

In related news, SVP Mark E. Delaney sold 874 shares of the firm’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $175.72, for a total transaction of $153,579.28. Following the completion of the transaction, the senior vice president directly owned 8,372 shares in the company, valued at $1,471,127.84. This trade represents a 9.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 8.16% of the company’s stock.

Quest Diagnostics Stock Performance

Shares of Quest Diagnostics stock opened at $166.79 on Friday. The company has a market capitalization of $18.62 billion, a PE ratio of 21.09, a P/E/G ratio of 2.33 and a beta of 0.49. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.31 and a current ratio of 1.44. The company has a 50-day simple moving average of $174.95 and a two-hundred day simple moving average of $169.08. Quest Diagnostics Incorporated has a one year low of $137.71 and a one year high of $182.38.

Quest Diagnostics (NYSE:DGX) last issued its earnings results on Tuesday, April 22nd. The medical research company reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.06. Quest Diagnostics had a return on equity of 15.11% and a net margin of 8.81%. The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.63 billion. Research analysts expect that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, July 7th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend is Monday, July 7th. Quest Diagnostics’s dividend payout ratio is presently 40.46%.

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.