Allianz Asset Management GmbH Sells 146,511 Shares of Quest Diagnostics Incorporated $DGX

Allianz Asset Management GmbH lessened its position in Quest Diagnostics Incorporated (NYSE:DGX) by 48.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 157,850 shares of the medical research company’s stock after selling 146,511 shares during the period. Allianz Asset Management GmbH owned about 0.14% of Quest Diagnostics worth $30,083,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. True Wealth Design LLC increased its position in Quest Diagnostics by 369.7% during the third quarter. True Wealth Design LLC now owns 155 shares of the medical research company’s stock worth $30,000 after buying an additional 122 shares during the last quarter. MTM Investment Management LLC bought a new position in shares of Quest Diagnostics during the 2nd quarter worth approximately $29,000. First Horizon Corp acquired a new position in shares of Quest Diagnostics during the 3rd quarter worth approximately $33,000. AlphaQuest LLC raised its stake in Quest Diagnostics by 18,400.0% in the 2nd quarter. AlphaQuest LLC now owns 185 shares of the medical research company’s stock valued at $33,000 after acquiring an additional 184 shares during the period. Finally, Ameritas Advisory Services LLC acquired a new stake in Quest Diagnostics during the 2nd quarter valued at $35,000. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Quest Diagnostics news, Director Vicky B. Gregg sold 1,250 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $191.76, for a total transaction of $239,700.00. Following the completion of the transaction, the director owned 17,037 shares of the company’s stock, valued at approximately $3,267,015.12. The trade was a 6.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO J. E. Davis sold 55,093 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $192.22, for a total transaction of $10,589,976.46. Following the completion of the sale, the chief executive officer owned 120,480 shares in the company, valued at approximately $23,158,665.60. The trade was a 31.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 64,289 shares of company stock worth $12,318,360. Insiders own 8.16% of the company’s stock.

Quest Diagnostics Trading Up 1.5%

Shares of Quest Diagnostics stock opened at $192.02 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.13 and a debt-to-equity ratio of 0.71. Quest Diagnostics Incorporated has a 12-month low of $157.20 and a 12-month high of $197.55. The company has a market capitalization of $21.36 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 2.40 and a beta of 0.66. The firm’s 50-day moving average price is $181.14 and its two-hundred day moving average price is $181.11.

Quest Diagnostics Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 28th. Shareholders of record on Tuesday, January 13th were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Tuesday, January 13th. Quest Diagnostics’s dividend payout ratio (DPR) is currently 37.56%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on DGX shares. Jefferies Financial Group upped their price objective on shares of Quest Diagnostics from $200.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. Piper Sandler increased their price target on shares of Quest Diagnostics from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Monday, October 27th. Wall Street Zen downgraded shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Sunday, January 25th. Leerink Partners upped their target price on Quest Diagnostics from $203.00 to $210.00 and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Finally, Barclays raised Quest Diagnostics from an “equal weight” rating to an “overweight” rating and set a $210.00 price target for the company in a report on Friday, January 30th. Eight equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $198.27.

About Quest Diagnostics

Quest Diagnostics (NYSE: DGX) is a leading provider of diagnostic information services that supports clinical decision-making for patients, physicians and healthcare organizations. The company operates a network of clinical laboratories and patient service centers that perform a broad range of laboratory tests and diagnostic assays used in routine care, disease diagnosis, monitoring and screening.

Its services span core clinical laboratory testing, anatomic pathology, molecular and genomic diagnostics, infectious disease testing and toxicology.