Quest Diagnostics Incorporated (NYSE:DGX) Shares Purchased by Blue Trust Inc.

Blue Trust Inc. lifted its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGXFree Report) by 14.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,066 shares of the medical research company’s stock after buying an additional 131 shares during the period. Blue Trust Inc.’s holdings in Quest Diagnostics were worth $147,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of DGX. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Quest Diagnostics in the third quarter valued at $493,000. Raymond James & Associates grew its position in Quest Diagnostics by 103.3% during the fourth quarter. Raymond James & Associates now owns 148,251 shares of the medical research company’s stock worth $20,441,000 after buying an additional 75,315 shares during the period. CHURCHILL MANAGEMENT Corp purchased a new position in Quest Diagnostics in the fourth quarter valued at about $1,483,000. Wellington Management Group LLP lifted its position in shares of Quest Diagnostics by 14.6% during the 3rd quarter. Wellington Management Group LLP now owns 2,613,793 shares of the medical research company’s stock valued at $318,517,000 after acquiring an additional 333,947 shares during the period. Finally, Pacer Advisors Inc. boosted its stake in shares of Quest Diagnostics by 201.5% during the 4th quarter. Pacer Advisors Inc. now owns 31,912 shares of the medical research company’s stock worth $4,400,000 after acquiring an additional 21,327 shares in the last quarter. 88.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DGX has been the subject of several research reports. SVB Leerink assumed coverage on Quest Diagnostics in a report on Monday, February 26th. They set a “market perform” rating and a $135.00 price objective for the company. TheStreet lowered shares of Quest Diagnostics from a “b-” rating to a “c” rating in a research report on Monday, February 5th. Jefferies Financial Group upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating and raised their target price for the company from $140.00 to $155.00 in a report on Wednesday, February 7th. Barclays began coverage on shares of Quest Diagnostics in a report on Wednesday, January 3rd. They issued an “equal weight” rating and a $145.00 price target on the stock. Finally, Bank of America upgraded Quest Diagnostics from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $140.00 to $160.00 in a research report on Tuesday, December 12th. Ten research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Quest Diagnostics currently has an average rating of “Hold” and an average price target of $144.18.

View Our Latest Stock Analysis on DGX

Insider Buying and Selling

In related news, SVP Michael E. Prevoznik sold 5,611 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $125.88, for a total value of $706,312.68. Following the transaction, the senior vice president now directly owns 38,478 shares of the company’s stock, valued at approximately $4,843,610.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Michael E. Prevoznik sold 661 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $126.14, for a total value of $83,378.54. Following the transaction, the senior vice president now directly owns 40,206 shares of the company’s stock, valued at approximately $5,071,584.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael E. Prevoznik sold 5,611 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $125.88, for a total value of $706,312.68. Following the completion of the transaction, the senior vice president now directly owns 38,478 shares in the company, valued at $4,843,610.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,150 shares of company stock valued at $1,913,202. 0.66% of the stock is currently owned by company insiders.

Quest Diagnostics Price Performance

DGX stock opened at $132.33 on Wednesday. Quest Diagnostics Incorporated has a 52-week low of $119.59 and a 52-week high of $148.62. The stock’s fifty day simple moving average is $127.78 and its 200-day simple moving average is $130.34. The company has a quick ratio of 1.20, a current ratio of 1.31 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $14.70 billion, a price-to-earnings ratio of 17.67, a price-to-earnings-growth ratio of 2.87 and a beta of 0.91.

Quest Diagnostics (NYSE:DGXGet Free Report) last posted its quarterly earnings data on Thursday, February 1st. The medical research company reported $2.15 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.25 billion. During the same quarter last year, the firm earned $1.98 earnings per share. The business’s revenue was down 1.9% on a year-over-year basis. Equities research analysts expect that Quest Diagnostics Incorporated will post 8.75 EPS for the current year.

Quest Diagnostics Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 22nd. Stockholders of record on Monday, April 8th will be issued a dividend of $0.75 per share. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Friday, April 5th. This represents a $3.00 annualized dividend and a dividend yield of 2.27%. Quest Diagnostics’s dividend payout ratio (DPR) is 37.92%.

Quest Diagnostics Profile

(Free Report)

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.

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

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