CNB Bank Has $576,000 Stock Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

CNB Bank trimmed its holdings in Quest Diagnostics Incorporated (NYSE:DGX) by 11.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,817 shares of the medical research company’s stock after selling 471 shares during the period. CNB Bank’s holdings in Quest Diagnostics were worth $576,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. State Street Corp grew its holdings in Quest Diagnostics by 1.4% during the third quarter. State Street Corp now owns 5,263,231 shares of the medical research company’s stock worth $817,117,000 after buying an additional 70,578 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Quest Diagnostics by 1.5% in the third quarter. Geode Capital Management LLC now owns 2,616,653 shares of the medical research company’s stock valued at $404,838,000 after purchasing an additional 39,217 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of Quest Diagnostics by 2.1% during the third quarter. DekaBank Deutsche Girozentrale now owns 748,680 shares of the medical research company’s stock valued at $115,621,000 after purchasing an additional 15,047 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Quest Diagnostics by 25.4% during the third quarter. BNP Paribas Financial Markets now owns 747,298 shares of the medical research company’s stock worth $116,018,000 after purchasing an additional 151,365 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Quest Diagnostics by 1.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 708,100 shares of the medical research company’s stock worth $109,933,000 after purchasing an additional 12,565 shares in the last quarter. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Quest Diagnostics Price Performance

Shares of Quest Diagnostics stock opened at $152.08 on Friday. The firm has a market capitalization of $16.97 billion, a PE ratio of 20.46, a price-to-earnings-growth ratio of 2.37 and a beta of 0.90. The company has a current ratio of 1.25, a quick ratio of 1.17 and a debt-to-equity ratio of 0.83. Quest Diagnostics Incorporated has a 12 month low of $123.04 and a 12 month high of $165.32. The business’s 50-day moving average price is $156.56 and its 200-day moving average price is $152.47.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings data on Tuesday, October 22nd. The medical research company reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.04. The firm had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.43 billion. Quest Diagnostics had a return on equity of 15.25% and a net margin of 8.82%. The business’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.22 earnings per share. Sell-side analysts forecast that Quest Diagnostics Incorporated will post 8.9 EPS for the current fiscal year.

Quest Diagnostics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Tuesday, January 14th will be paid a dividend of $0.75 per share. The ex-dividend date is Tuesday, January 14th. This represents a $3.00 annualized dividend and a dividend yield of 1.97%. Quest Diagnostics’s dividend payout ratio (DPR) is presently 40.32%.

Insider Activity at Quest Diagnostics

In other Quest Diagnostics news, CAO Michael J. Deppe sold 18,755 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $154.05, for a total value of $2,889,207.75. Following the completion of the transaction, the chief accounting officer now directly owns 34,941 shares in the company, valued at approximately $5,382,661.05. This represents a 34.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Karthik Kuppusamy sold 1,775 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $156.92, for a total value of $278,533.00. Following the completion of the transaction, the senior vice president now directly owns 9,734 shares of the company’s stock, valued at $1,527,459.28. This represents a 15.42 % decrease in their position. The disclosure for this sale can be found here. 0.79% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have commented on DGX shares. StockNews.com cut shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Tuesday. Piper Sandler lifted their price target on Quest Diagnostics from $150.00 to $165.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. UBS Group upped their price objective on Quest Diagnostics from $165.00 to $166.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Bank of America boosted their price target on shares of Quest Diagnostics from $179.00 to $182.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Jefferies Financial Group restated a “buy” rating and set a $185.00 price objective (up previously from $175.00) on shares of Quest Diagnostics in a report on Tuesday, December 10th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $172.15.

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.