Quest Diagnostics Incorporated (NYSE:DGX) Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC cut its position in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 44.3% during the 4th quarter, Holdings Channel reports. The firm owned 146,587 shares of the medical research company’s stock after selling 116,750 shares during the period. AQR Capital Management LLC’s holdings in Quest Diagnostics were worth $22,114,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. BankPlus Wealth Management LLC acquired a new position in shares of Quest Diagnostics in the 4th quarter worth approximately $355,000. Van ECK Associates Corp grew its holdings in shares of Quest Diagnostics by 980.3% in the 4th quarter. Van ECK Associates Corp now owns 24,198 shares of the medical research company’s stock worth $3,650,000 after acquiring an additional 21,958 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Quest Diagnostics during the fourth quarter valued at $54,000. Clean Yield Group increased its stake in Quest Diagnostics by 17.7% in the 4th quarter. Clean Yield Group now owns 26,428 shares of the medical research company’s stock worth $3,987,000 after purchasing an additional 3,983 shares in the last quarter. Finally, SVB Wealth LLC purchased a new stake in Quest Diagnostics during the fourth quarter valued at about $10,345,000. Institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Stock Performance

NYSE DGX opened at $177.96 on Friday. The company’s fifty day moving average is $169.42 and its two-hundred day moving average is $162.08. Quest Diagnostics Incorporated has a 52-week low of $135.35 and a 52-week high of $179.32. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.10 and a quick ratio of 1.02. The firm has a market capitalization of $19.87 billion, a price-to-earnings ratio of 23.14, a P/E/G ratio of 2.16 and a beta of 0.52.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings data on Tuesday, April 22nd. The medical research company reported $2.21 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.06. The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.63 billion. Quest Diagnostics had a return on equity of 15.07% and a net margin of 8.80%. Equities research analysts forecast that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Barclays boosted their price target on shares of Quest Diagnostics from $175.00 to $185.00 and gave the company an “equal weight” rating in a report on Wednesday, April 23rd. Robert W. Baird increased their price objective on Quest Diagnostics from $191.00 to $194.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 23rd. Truist Financial upped their target price on Quest Diagnostics from $182.00 to $190.00 and gave the company a “hold” rating in a report on Wednesday, April 23rd. Piper Sandler upped their price objective on shares of Quest Diagnostics from $180.00 to $200.00 and gave the company a “neutral” rating in a research note on Monday, April 28th. Finally, StockNews.com downgraded shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Quest Diagnostics presently has an average rating of “Moderate Buy” and an average price target of $185.07.

Insiders Place Their Bets

In other news, Director Vicky B. Gregg sold 1,250 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $164.57, for a total transaction of $205,712.50. Following the completion of the transaction, the director now directly owns 16,867 shares of the company’s stock, valued at approximately $2,775,802.19. This trade represents a 6.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael E. Prevoznik sold 604 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $170.99, for a total transaction of $103,277.96. Following the completion of the sale, the senior vice president now directly owns 39,845 shares in the company, valued at approximately $6,813,096.55. The trade was a 1.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,903 shares of company stock worth $9,460,221 over the last 90 days. Corporate insiders own 8.16% of the company’s stock.

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.