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NorthCrest Asset Manangement LLC raised its position in shares of Quest Diagnostics Incorporated (NYSE:DGX – Free Report) by 5.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,225 shares of the medical research company’s stock after purchasing an additional 115 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Quest Diagnostics were worth $376,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of DGX. Bruce G. Allen Investments LLC grew its holdings in Quest Diagnostics by 57.8% during the first quarter. Bruce G. Allen Investments LLC now owns 183 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 67 shares during the period. Sierra Ocean LLC bought a new position in Quest Diagnostics during the fourth quarter valued at $33,000. NBC Securities Inc. bought a new position in Quest Diagnostics during the first quarter valued at $35,000. FPC Investment Advisory Inc. bought a new position in Quest Diagnostics during the fourth quarter valued at $45,000. Finally, SBI Securities Co. Ltd. bought a new position in Quest Diagnostics during the fourth quarter valued at $54,000. 88.06% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on DGX shares. Piper Sandler increased their target price on Quest Diagnostics from $180.00 to $200.00 and gave the stock a “neutral” rating in a research report on Monday, April 28th. Citigroup downgraded Quest Diagnostics from a “buy” rating to a “neutral” rating and set a $185.00 target price on the stock. in a research report on Tuesday, March 4th. Mizuho increased their target price on Quest Diagnostics from $178.00 to $189.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 9th. Wall Street Zen downgraded Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Saturday, June 7th. Finally, Redburn Partners set a $195.00 target price on Quest Diagnostics in a research report on Wednesday, April 2nd. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $185.73.
Quest Diagnostics Trading Up 0.6%
Shares of DGX stock opened at $180.04 on Monday. The business’s fifty day moving average is $172.77 and its 200 day moving average is $165.69. Quest Diagnostics Incorporated has a 52-week low of $135.47 and a 52-week high of $181.91. 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 company has a market capitalization of $20.10 billion, a PE ratio of 23.41, a price-to-earnings-growth ratio of 2.16 and a beta of 0.49.
Quest Diagnostics (NYSE:DGX – Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The medical research company reported $2.21 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.06. Quest Diagnostics had a return on equity of 15.07% and a net margin of 8.80%. The business had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.63 billion. On average, equities research analysts anticipate that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.
Quest Diagnostics Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, July 21st. Shareholders of record on Monday, July 7th will be given a dividend of $0.80 per share. The ex-dividend date is Monday, July 7th. This represents a $3.20 dividend on an annualized basis and a yield of 1.78%. Quest Diagnostics’s payout ratio is 40.46%.
Insider Buying and Selling at Quest Diagnostics
In other Quest Diagnostics news, SVP Karthik Kuppusamy sold 2,555 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $170.00, for a total transaction of $434,350.00. Following the sale, the senior vice president now owns 10,575 shares in the company, valued at $1,797,750. This trade represents a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Mark E. Delaney sold 874 shares of Quest Diagnostics stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $175.72, for a total value of $153,579.28. Following the completion of the transaction, the senior vice president now owns 8,372 shares in the company, valued at approximately $1,471,127.84. This represents a 9.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,620 shares of company stock worth $7,190,045 over the last 90 days. Corporate insiders own 8.16% of the company’s stock.
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.
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