Quest Diagnostics Inc (NYSE:DGX) announced a quarterly dividend on Tuesday, May 14th, RTT News reports. Stockholders of record on Monday, July 8th will be paid a dividend of 0.53 per share by the medical research company on Monday, July 22nd. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend is Friday, July 5th.
Quest Diagnostics has raised its dividend payment by an average of 9.9% per year over the last three years and has increased its dividend every year for the last 7 years. Quest Diagnostics has a payout ratio of 32.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Quest Diagnostics to earn $6.81 per share next year, which means the company should continue to be able to cover its $2.12 annual dividend with an expected future payout ratio of 31.1%.
Shares of Quest Diagnostics stock opened at $103.97 on Thursday. The company has a market cap of $13.87 billion, a PE ratio of 16.48, a price-to-earnings-growth ratio of 2.38 and a beta of 0.86. The stock has a 50-day moving average price of $99.21. Quest Diagnostics has a 1 year low of $78.95 and a 1 year high of $115.64. The company has a current ratio of 0.78, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59.
Several equities analysts have recently commented on the company. Zacks Investment Research upgraded Quest Diagnostics from a “hold” rating to a “buy” rating and set a $111.00 price target on the stock in a research note on Monday, May 13th. Wolfe Research assumed coverage on Quest Diagnostics in a report on Tuesday, April 2nd. They set an “underperform” rating for the company. Credit Suisse Group downgraded Quest Diagnostics from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $101.00 to $91.00 in a report on Monday, March 18th. Jefferies Financial Group upgraded Quest Diagnostics from a “hold” rating to a “buy” rating and lifted their price target for the company from $93.00 to $107.00 in a research report on Tuesday, April 2nd. Finally, ValuEngine upgraded Quest Diagnostics from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $101.75.
In other news, EVP J. E. Davis sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $90.29, for a total transaction of $722,320.00. Following the completion of the transaction, the executive vice president now directly owns 38,634 shares in the company, valued at $3,488,263.86. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Stephen H. Rusckowski sold 244,565 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $100.00, for a total value of $24,456,500.00. Following the transaction, the chairman now owns 457,614 shares of the company’s stock, valued at $45,761,400. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 373,144 shares of company stock worth $36,998,850. Corporate insiders own 1.86% of the company’s stock.
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: Outstanding Shares
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