Quest Diagnostics Incorporated (NYSE:DGX) Shares Bought by Sound Income Strategies LLC

Sound Income Strategies LLC raised its stake in Quest Diagnostics Incorporated (NYSE:DGX) by 35.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,028 shares of the medical research company’s stock after buying an additional 267 shares during the quarter. Sound Income Strategies LLC’s holdings in Quest Diagnostics were worth $174,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in DGX. Brighton Jones LLC acquired a new stake in shares of Quest Diagnostics during the fourth quarter worth about $323,000. Van ECK Associates Corp lifted its position in shares of Quest Diagnostics by 980.3% during the fourth quarter. Van ECK Associates Corp now owns 24,198 shares of the medical research company’s stock worth $3,650,000 after purchasing an additional 21,958 shares in the last quarter. Asset Management One Co. Ltd. lifted its position in shares of Quest Diagnostics by 1.2% during the fourth quarter. Asset Management One Co. Ltd. now owns 44,880 shares of the medical research company’s stock worth $6,850,000 after purchasing an additional 545 shares in the last quarter. Principal Securities Inc. lifted its position in shares of Quest Diagnostics by 24.8% during the fourth quarter. Principal Securities Inc. now owns 3,119 shares of the medical research company’s stock worth $471,000 after purchasing an additional 620 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC acquired a new stake in shares of Quest Diagnostics during the fourth quarter worth about $1,075,000. Institutional investors and hedge funds own 88.06% of the company’s stock.

Insider Transactions at Quest Diagnostics

In related news, SVP Mark E. Delaney sold 874 shares of Quest Diagnostics stock in a transaction on Monday, May 12th. The shares were sold at an average price of $175.72, for a total value of $153,579.28. Following the transaction, the senior vice president now directly owns 8,372 shares in the company, valued at $1,471,127.84. This trade represents a 9.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO J. E. Davis sold 39,191 shares of Quest Diagnostics stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $168.46, for a total transaction of $6,602,115.86. Following the completion of the transaction, the chief executive officer now owns 127,623 shares in the company, valued at approximately $21,499,370.58. This trade represents a 23.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 42,620 shares of company stock worth $7,190,045. Insiders own 8.16% of the company’s stock.

Quest Diagnostics Stock Performance

Shares of Quest Diagnostics stock opened at $182.06 on Tuesday. The firm has a market capitalization of $20.32 billion, a P/E ratio of 23.68, a P/E/G ratio of 2.16 and a beta of 0.49. Quest Diagnostics Incorporated has a 52 week low of $135.47 and a 52 week high of $182.38. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.82. The firm’s 50 day moving average is $173.21 and its two-hundred day moving average is $165.82.

Quest Diagnostics (NYSE:DGX) last announced its earnings results on Tuesday, April 22nd. The medical research company reported $2.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.06. The business had revenue of $2.65 billion for 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%. Research analysts forecast that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, July 7th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, July 7th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.76%. Quest Diagnostics’s dividend payout ratio (DPR) is presently 40.46%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Evercore ISI increased 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 report on Wednesday, April 23rd. Piper Sandler raised their target price on shares of Quest Diagnostics from $180.00 to $200.00 and gave the company a “neutral” rating in a report on Monday, April 28th. Truist Financial raised their target price on shares of Quest Diagnostics from $182.00 to $190.00 and gave the company a “hold” rating in a report on Wednesday, April 23rd. Mizuho raised their target price on shares of Quest Diagnostics from $178.00 to $189.00 and gave the company an “outperform” rating in a report on Wednesday, April 9th. Finally, Redburn Atlantic initiated coverage on shares of Quest Diagnostics in a report on Wednesday, April 2nd. They issued a “buy” rating and a $195.00 target price on the stock. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.