Spire Wealth Management Sells 244 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

Spire Wealth Management lessened its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGXFree Report) by 12.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,659 shares of the medical research company’s stock after selling 244 shares during the quarter. Spire Wealth Management’s holdings in Quest Diagnostics were worth $202,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Quest Diagnostics by 4.8% in the first quarter. Vanguard Group Inc. now owns 14,014,030 shares of the medical research company’s stock worth $1,917,961,000 after buying an additional 636,301 shares in the last quarter. Victory Capital Management Inc. boosted its position in Quest Diagnostics by 5.6% during the third quarter. Victory Capital Management Inc. now owns 3,414,514 shares of the medical research company’s stock valued at $416,093,000 after buying an additional 180,889 shares during the period. Geode Capital Management LLC grew its stake in shares of Quest Diagnostics by 3.1% during the second quarter. Geode Capital Management LLC now owns 2,422,912 shares of the medical research company’s stock valued at $339,688,000 after buying an additional 72,447 shares during the last quarter. Northern Trust Corp boosted its holdings in Quest Diagnostics by 0.6% during the 1st quarter. Northern Trust Corp now owns 1,514,577 shares of the medical research company’s stock valued at $207,286,000 after acquiring an additional 8,406 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Quest Diagnostics by 0.3% in the second quarter. JPMorgan Chase & Co. now owns 1,462,970 shares of the medical research company’s stock valued at $205,635,000 after purchasing an additional 4,746 shares during the last quarter. Hedge funds and other institutional investors own 87.76% of the company’s stock.

Quest Diagnostics Stock Up 0.2 %

Shares of Quest Diagnostics stock opened at $126.74 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.31 and a debt-to-equity ratio of 0.70. Quest Diagnostics Incorporated has a twelve month low of $119.59 and a twelve month high of $148.91. The company has a market cap of $14.25 billion, a price-to-earnings ratio of 16.92, a price-to-earnings-growth ratio of 2.74 and a beta of 0.92. The company’s 50 day moving average is $134.49 and its 200 day moving average is $131.70.

Quest Diagnostics (NYSE:DGXGet Free Report) last released its quarterly earnings results on Thursday, February 1st. The medical research company reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.11 by $0.04. Quest Diagnostics had a return on equity of 15.79% and a net margin of 9.23%. The firm had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.25 billion. During the same period in the prior year, the firm earned $1.98 EPS. The company’s revenue was down 1.9% compared to the same quarter last year. Research analysts anticipate that Quest Diagnostics Incorporated will post 8.79 EPS for the current year.

Quest Diagnostics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 22nd. Stockholders of record on Monday, April 8th will be given a dividend of $0.75 per share. The ex-dividend date is Friday, April 5th. This represents a $3.00 annualized dividend and a dividend yield of 2.37%. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.71. Quest Diagnostics’s dividend payout ratio is presently 37.92%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on DGX shares. Bank of America raised shares of Quest Diagnostics from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $140.00 to $160.00 in a research report on Tuesday, December 12th. UBS Group boosted their price objective on shares of Quest Diagnostics from $135.00 to $137.00 and gave the stock a “neutral” rating in a research note on Thursday, December 7th. JPMorgan Chase & Co. raised their price target on Quest Diagnostics from $148.00 to $149.00 and gave the company a “neutral” rating in a report on Friday, November 17th. Jefferies Financial Group upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating and raised their price objective for the company from $140.00 to $155.00 in a research note on Wednesday. Finally, Piper Sandler upped their target price on shares of Quest Diagnostics from $130.00 to $140.00 and gave the stock a “neutral” rating in a research note on Monday, November 6th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $146.91.

Get Our Latest Research Report on Quest Diagnostics

About Quest Diagnostics

(Free Report)

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

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Institutional Ownership by Quarter for Quest Diagnostics (NYSE:DGX)

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