Cetera Investment Advisers Boosts Stock Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

Cetera Investment Advisers boosted its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 8.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,399 shares of the medical research company’s stock after acquiring an additional 1,462 shares during the period. Cetera Investment Advisers’ holdings in Quest Diagnostics were worth $2,776,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of DGX. Sierra Ocean LLC purchased a new position in shares of Quest Diagnostics in the 4th quarter worth $33,000. FPC Investment Advisory Inc. purchased a new position in shares of Quest Diagnostics in the 4th quarter worth $45,000. Global Trust Asset Management LLC purchased a new position in shares of Quest Diagnostics in the 4th quarter worth $49,000. SBI Securities Co. Ltd. purchased a new position in shares of Quest Diagnostics in the 4th quarter worth $54,000. Finally, Sandy Spring Bank grew its stake in shares of Quest Diagnostics by 142.5% in the 4th quarter. Sandy Spring Bank now owns 485 shares of the medical research company’s stock worth $73,000 after buying an additional 285 shares in the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

Quest Diagnostics Trading Up 0.8%

NYSE:DGX opened at $177.88 on Friday. Quest Diagnostics Incorporated has a one year low of $135.47 and a one year high of $179.32. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.02 and a current ratio of 1.10. The firm has a market cap of $19.86 billion, a P/E ratio of 23.13, a P/E/G ratio of 2.16 and a beta of 0.52. The firm has a 50-day simple moving average of $170.04 and a 200-day simple moving average of $163.60.

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

Quest Diagnostics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 21st. Investors of record on Monday, July 7th will be paid a dividend of $0.80 per share. The ex-dividend date is Monday, July 7th. This represents a $3.20 annualized dividend and a dividend yield of 1.80%. Quest Diagnostics’s dividend payout ratio (DPR) is presently 40.46%.

Insider Buying and Selling

In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 604 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $170.99, for a total transaction of $103,277.96. Following the transaction, the senior vice president now owns 39,845 shares in the company, valued at approximately $6,813,096.55. This represents a 1.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Catherine T. Doherty sold 535 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $169.71, for a total transaction of $90,794.85. Following the transaction, the executive vice president now owns 71,356 shares in the company, valued at $12,109,826.76. The trade was a 0.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,124 shares of company stock worth $9,341,875 in the last 90 days. 8.16% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on DGX shares. JPMorgan Chase & Co. lifted their price objective on shares of Quest Diagnostics from $180.00 to $190.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 6th. Barclays lifted their price target on shares of Quest Diagnostics from $175.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 23rd. Evercore ISI lifted their price target on shares of Quest Diagnostics from $175.00 to $180.00 and gave the stock an “in-line” rating in a research note on Wednesday, April 23rd. Redburn Partners set a $195.00 price target on shares of Quest Diagnostics in a research note on Wednesday, April 2nd. Finally, Piper Sandler lifted their price target on shares of Quest Diagnostics from $180.00 to $200.00 and gave the stock a “neutral” rating in a research note on Monday, April 28th. 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 stock. According to MarketBeat, Quest Diagnostics presently has a consensus rating of “Moderate Buy” and a consensus target price of $185.73.

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.