FineMark National Bank & Trust Lowers Stake in Quest Diagnostics Incorporated (NYSE:DGX)

FineMark National Bank & Trust cut its stake in Quest Diagnostics Incorporated (NYSE:DGX) by 1.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,102 shares of the medical research company’s stock after selling 532 shares during the quarter. FineMark National Bank & Trust’s holdings in Quest Diagnostics were worth $6,352,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in DGX. Sierra Ocean LLC purchased a new position in Quest Diagnostics in the fourth quarter valued at about $33,000. Versant Capital Management Inc boosted its holdings in shares of Quest Diagnostics by 340.4% in the 4th quarter. Versant Capital Management Inc now owns 251 shares of the medical research company’s stock valued at $38,000 after buying an additional 194 shares in the last quarter. First Financial Corp IN purchased a new position in shares of Quest Diagnostics in the 4th quarter worth approximately $38,000. FPC Investment Advisory Inc. bought a new position in shares of Quest Diagnostics during the 4th quarter worth approximately $45,000. Finally, Global Trust Asset Management LLC acquired a new stake in Quest Diagnostics in the fourth quarter valued at approximately $49,000. 88.06% of the stock is owned by institutional investors.

Quest Diagnostics Price Performance

NYSE:DGX opened at $167.35 on Tuesday. The firm’s fifty day moving average is $165.45 and its two-hundred day moving average is $158.73. The firm has a market cap of $18.57 billion, a price-to-earnings ratio of 21.76, a PEG ratio of 2.16 and a beta of 0.92. Quest Diagnostics Incorporated has a one year low of $125.42 and a one year high of $178.87. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.02 and a current ratio of 1.10.

Quest Diagnostics (NYSE:DGX) last posted its earnings results on Thursday, January 30th. The medical research company reported $2.23 EPS for the quarter, topping the consensus estimate of $2.19 by $0.04. Quest Diagnostics had a return on equity of 15.07% and a net margin of 8.80%. Research analysts expect that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be issued a dividend of $0.80 per share. The ex-dividend date is Monday, April 7th. This is an increase from Quest Diagnostics’s previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a yield of 1.91%. Quest Diagnostics’s dividend payout ratio is 41.61%.

Analyst Ratings Changes

DGX has been the subject of several analyst reports. Bank of America increased their price objective on Quest Diagnostics from $179.00 to $182.00 and gave the company a “buy” rating in a report on Friday, December 13th. StockNews.com cut Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Mizuho boosted their price target on Quest Diagnostics from $177.00 to $178.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Morgan Stanley upgraded shares of Quest Diagnostics from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $145.00 to $172.00 in a report on Tuesday, December 17th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $180.00 target price (up from $165.00) on shares of Quest Diagnostics in a research note on Monday, February 3rd. Eight analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $178.38.

Insider Activity at Quest Diagnostics

In other Quest Diagnostics news, SVP Mark E. Delaney sold 403 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $164.30, for a total value of $66,212.90. Following the sale, the senior vice president now directly owns 4,624 shares of the company’s stock, valued at approximately $759,723.20. This trade represents a 8.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Vicky B. Gregg sold 1,250 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $164.57, for a total value of $205,712.50. Following the transaction, the director now directly owns 16,867 shares of the company’s stock, valued at approximately $2,775,802.19. The trade was a 6.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,157 shares of company stock worth $2,423,755. 0.79% of the stock is owned by company insiders.

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.