Quest Diagnostics Incorporated (NYSE:DGX) Shares Sold by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC decreased its holdings in Quest Diagnostics Incorporated (NYSE:DGX) by 6.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,385 shares of the medical research company’s stock after selling 6,200 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Quest Diagnostics were worth $13,032,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sierra Ocean LLC purchased a new position in Quest Diagnostics in the 4th quarter worth $33,000. Versant Capital Management Inc increased its holdings in shares of Quest Diagnostics by 340.4% in the fourth quarter. Versant Capital Management Inc now owns 251 shares of the medical research company’s stock valued at $38,000 after purchasing an additional 194 shares during the period. First Financial Corp IN purchased a new position in shares of Quest Diagnostics in the fourth quarter worth about $38,000. FPC Investment Advisory Inc. acquired a new stake in shares of Quest Diagnostics during the fourth quarter worth about $45,000. Finally, Global Trust Asset Management LLC purchased a new stake in Quest Diagnostics in the fourth quarter valued at approximately $49,000. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

Quest Diagnostics Price Performance

Quest Diagnostics stock opened at $169.39 on Tuesday. Quest Diagnostics Incorporated has a 52-week low of $125.42 and a 52-week high of $178.87. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $18.80 billion, a price-to-earnings ratio of 22.03, a PEG ratio of 2.16 and a beta of 0.92. The company has a fifty day simple moving average of $167.00 and a 200-day simple moving average of $159.20.

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

Quest Diagnostics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Stockholders 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 a boost from Quest Diagnostics’s previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.89%. Quest Diagnostics’s dividend payout ratio is currently 41.61%.

Insider Buying and Selling at Quest Diagnostics

In other news, EVP Catherine T. Doherty sold 535 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $169.71, for a total value of $90,794.85. Following the transaction, the executive vice president now owns 71,356 shares in the company, valued at approximately $12,109,826.76. This represents a 0.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Michael E. Prevoznik sold 4,643 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $170.00, for a total transaction of $789,310.00. Following the completion of the transaction, the senior vice president now owns 38,117 shares of the company’s stock, valued at approximately $6,479,890. The trade was a 10.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,157 shares of company stock worth $2,423,755 over the last three months. Insiders own 0.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on DGX. Leerink Partnrs raised shares of Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. UBS Group raised their target price on shares of Quest Diagnostics from $166.00 to $170.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Barclays increased their price target on Quest Diagnostics from $168.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. lifted their price objective on Quest Diagnostics from $173.00 to $180.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Finally, Leerink Partners upgraded Quest Diagnostics from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $169.00 to $174.00 in a research note on Monday, January 6th. 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $178.38.

Quest Diagnostics 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.