Rehmann Capital Advisory Group Decreases Stake in Quest Diagnostics Incorporated (NYSE:DGX)

Rehmann Capital Advisory Group lowered its position in Quest Diagnostics Incorporated (NYSE:DGX) by 28.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,450 shares of the medical research company’s stock after selling 1,803 shares during the period. Rehmann Capital Advisory Group’s holdings in Quest Diagnostics were worth $696,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of DGX. Cetera Advisors LLC grew its holdings in shares of Quest Diagnostics by 73.6% in the first quarter. Cetera Advisors LLC now owns 2,818 shares of the medical research company’s stock worth $375,000 after acquiring an additional 1,195 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Quest Diagnostics by 751.3% in the second quarter. Assenagon Asset Management S.A. now owns 49,368 shares of the medical research company’s stock worth $6,757,000 after acquiring an additional 43,569 shares during the period. Naples Global Advisors LLC grew its holdings in Quest Diagnostics by 1.3% during the second quarter. Naples Global Advisors LLC now owns 8,006 shares of the medical research company’s stock valued at $1,096,000 after purchasing an additional 100 shares during the period. Blue Trust Inc. grew its holdings in Quest Diagnostics by 35.7% during the second quarter. Blue Trust Inc. now owns 1,303 shares of the medical research company’s stock valued at $173,000 after purchasing an additional 343 shares during the period. Finally, Brookstone Capital Management bought a new stake in Quest Diagnostics during the second quarter valued at about $353,000. Institutional investors own 88.06% of the company’s stock.

Insider Buying and Selling

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

Quest Diagnostics Price Performance

NYSE:DGX opened at $156.07 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.17 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $17.42 billion, a P/E ratio of 20.98, a P/E/G ratio of 2.72 and a beta of 0.89. 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 is $156.48 and its 200 day moving average is $150.19.

Quest Diagnostics (NYSE:DGX) last posted its earnings results on Tuesday, October 22nd. The medical research company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.04. The company had revenue of $2.49 billion for 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 firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.22 earnings per share. On average, equities research analysts forecast that Quest Diagnostics Incorporated will post 8.9 earnings per share for the current fiscal year.

Quest Diagnostics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Tuesday, January 14th will be given a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, January 14th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.92%. Quest Diagnostics’s dividend payout ratio is currently 40.32%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on DGX shares. StockNews.com lowered Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Monday, November 18th. UBS Group boosted their price target on Quest Diagnostics from $165.00 to $166.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Evercore ISI started coverage on Quest Diagnostics in a report on Wednesday, August 28th. They set an “in-line” rating and a $165.00 price target for the company. Truist Financial boosted their price target on Quest Diagnostics from $158.00 to $165.00 and gave the company a “hold” rating in a report on Monday, October 7th. Finally, Piper Sandler boosted their price target on Quest Diagnostics from $150.00 to $165.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Nine analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Quest Diagnostics presently has an average rating of “Hold” and a consensus target price of $167.73.

About Quest Diagnostics

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.