First Financial Bank Trust Division Sells 7,490 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

First Financial Bank Trust Division cut its stake in Quest Diagnostics Incorporated (NYSE:DGX) by 46.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,515 shares of the medical research company’s stock after selling 7,490 shares during the quarter. First Financial Bank Trust Division’s holdings in Quest Diagnostics were worth $1,133,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of DGX. Altshuler Shaham Ltd bought a new stake in shares of Quest Diagnostics in the 4th quarter valued at about $26,000. VisionPoint Advisory Group LLC increased its stake in Quest Diagnostics by 100.0% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 218 shares of the medical research company’s stock worth $27,000 after purchasing an additional 109 shares in the last quarter. BKM Wealth Management LLC acquired a new position in Quest Diagnostics during the 4th quarter worth approximately $29,000. Spartan Planning & Wealth Management acquired a new position in Quest Diagnostics during the 4th quarter worth approximately $31,000. Finally, Alaska Permanent Fund Corp boosted its position in Quest Diagnostics by 79.3% during the 4th quarter. Alaska Permanent Fund Corp now owns 242 shares of the medical research company’s stock worth $33,000 after acquiring an additional 107 shares during the last quarter. 88.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DGX. StockNews.com raised Quest Diagnostics from a “hold” rating to a “buy” rating in a research report on Saturday. Barclays upped their price target on Quest Diagnostics from $138.00 to $144.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 25th. JPMorgan Chase & Co. increased their price objective on Quest Diagnostics from $152.00 to $155.00 and gave the company a “neutral” rating in a report on Thursday, May 30th. UBS Group increased their price objective on Quest Diagnostics from $139.00 to $146.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Finally, Leerink Partnrs reissued a “market perform” rating on shares of Quest Diagnostics in a report on Monday, February 26th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $146.67.

Quest Diagnostics Price Performance

Shares of NYSE DGX traded up $0.26 during mid-day trading on Tuesday, reaching $137.28. The company had a trading volume of 198,465 shares, compared to its average volume of 996,495. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.89 and a current ratio of 0.97. Quest Diagnostics Incorporated has a one year low of $119.59 and a one year high of $145.62. The firm has a market cap of $15.25 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 2.99 and a beta of 0.90. The business’s 50-day simple moving average is $137.43 and its 200 day simple moving average is $133.65.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Tuesday, April 23rd. The medical research company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.18. Quest Diagnostics had a return on equity of 15.52% and a net margin of 9.11%. The company had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.29 billion. During the same quarter last year, the business earned $2.04 earnings per share. Quest Diagnostics’s revenue was up 1.7% on a year-over-year basis. On average, research analysts predict that Quest Diagnostics Incorporated will post 8.79 earnings per share for the current fiscal year.

Quest Diagnostics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 22nd. Investors of record on Monday, July 8th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Monday, July 8th. Quest Diagnostics’s payout ratio is currently 40.38%.

Insider Buying and Selling

In related news, SVP Karthik Kuppusamy sold 1,760 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $140.00, for a total value of $246,400.00. Following the sale, the senior vice president now directly owns 13,435 shares of the company’s stock, valued at $1,880,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.79% of the stock is owned by company insiders.

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.