Insider Selling: Quest Diagnostics Inc (NYSE:DGX) Insider Sells $7,300,500.00 in Stock

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Quest Diagnostics Inc (NYSE:DGX) insider Mark Guinan sold 73,005 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $100.00, for a total value of $7,300,500.00. Following the completion of the sale, the insider now owns 139,022 shares in the company, valued at approximately $13,902,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

DGX opened at $101.92 on Thursday. The firm has a market capitalization of $13.56 billion, a P/E ratio of 16.15, a PEG ratio of 2.35 and a beta of 0.85. The company has a current ratio of 0.78, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59. Quest Diagnostics Inc has a 52 week low of $78.95 and a 52 week high of $116.49.

Quest Diagnostics (NYSE:DGX) last released its earnings results on Tuesday, April 23rd. The medical research company reported $1.40 EPS for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.04. The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Quest Diagnostics had a return on equity of 14.99% and a net margin of 9.59%. The firm’s revenue was up .4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $152.00 earnings per share. As a group, sell-side analysts anticipate that Quest Diagnostics Inc will post 6.48 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 22nd. Investors of record on Monday, July 8th will be paid a $0.53 dividend. The ex-dividend date is Friday, July 5th. This represents a $2.12 dividend on an annualized basis and a yield of 2.08%. Quest Diagnostics’s dividend payout ratio is presently 33.60%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DGX. Penserra Capital Management LLC bought a new position in Quest Diagnostics in the first quarter valued at $42,000. Signaturefd LLC increased its stake in Quest Diagnostics by 74.7% in the first quarter. Signaturefd LLC now owns 505 shares of the medical research company’s stock valued at $45,000 after acquiring an additional 216 shares during the last quarter. Doyle Wealth Management bought a new position in Quest Diagnostics in the fourth quarter valued at $48,000. Stevens First Principles Investment Advisors bought a new position in shares of Quest Diagnostics during the first quarter valued at about $51,000. Finally, Spectrum Management Group Inc. bought a new position in shares of Quest Diagnostics during the fourth quarter valued at about $58,000. 91.59% of the stock is currently owned by institutional investors and hedge funds.

DGX has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Quest Diagnostics from a “hold” rating to a “buy” rating and set a $106.00 price objective on the stock in a research report on Friday, April 26th. Canaccord Genuity increased their price objective on Quest Diagnostics from $97.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Jefferies Financial Group upgraded Quest Diagnostics from a “hold” rating to a “buy” rating and increased their price objective for the stock from $93.00 to $107.00 in a research report on Tuesday, April 2nd. Mizuho set a $110.00 price objective on Quest Diagnostics and gave the stock a “buy” rating in a research report on Monday, May 20th. Finally, ValuEngine upgraded Quest Diagnostics from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $102.12.

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Quest Diagnostics Company Profile

Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic testing information and services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.

Further Reading: Fundamental Analysis and Choosing Stocks

Insider Buying and Selling by Quarter for Quest Diagnostics (NYSE:DGX)

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