Quest Diagnostics Incorporated (NYSE:DGX) Shares Acquired by WD Rutherford LLC

WD Rutherford LLC increased its holdings in Quest Diagnostics Incorporated (NYSE:DGX) by 9.6% during the first quarter, HoldingsChannel.com reports. The fund owned 2,900 shares of the medical research company’s stock after buying an additional 255 shares during the period. WD Rutherford LLC’s holdings in Quest Diagnostics were worth $386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in Quest Diagnostics in the fourth quarter valued at $140,472,000. Nuance Investments LLC purchased a new stake in Quest Diagnostics during the 4th quarter valued at approximately $83,070,000. JPMorgan Chase & Co. lifted its position in Quest Diagnostics by 36.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,001,347 shares of the medical research company’s stock worth $243,884,000 after acquiring an additional 538,377 shares during the period. American Century Companies Inc. grew its stake in shares of Quest Diagnostics by 12.3% in the 3rd quarter. American Century Companies Inc. now owns 3,554,517 shares of the medical research company’s stock valued at $433,153,000 after purchasing an additional 388,162 shares during the last quarter. Finally, Pathstone Holdings LLC acquired a new position in shares of Quest Diagnostics in the fourth quarter valued at approximately $46,342,000. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Insider Activity

In related news, SVP Karthik Kuppusamy sold 1,760 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $140.00, for a total value of $246,400.00. Following the sale, the senior vice president now owns 13,435 shares of the company’s stock, valued at approximately $1,880,900. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.79% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on DGX. StockNews.com downgraded Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. raised their target price on shares of Quest Diagnostics from $152.00 to $155.00 and gave the stock a “neutral” rating in a research note on Thursday, May 30th. Truist Financial increased their price target on shares of Quest Diagnostics from $145.00 to $150.00 and gave the stock a “hold” rating in a report on Wednesday, April 24th. Mizuho lifted their price objective on Quest Diagnostics from $150.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, Barclays boosted their target price on Quest Diagnostics from $138.00 to $144.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 25th. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Quest Diagnostics currently has an average rating of “Hold” and an average target price of $146.67.

Quest Diagnostics Price Performance

NYSE DGX traded down $0.46 during mid-day trading on Friday, hitting $136.88. The stock had a trading volume of 1,284,686 shares, compared to its average volume of 754,392. The company has a 50 day simple moving average of $139.08 and a 200 day simple moving average of $133.82. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.59. The company has a market cap of $15.21 billion, a price-to-earnings ratio of 18.41, a P/E/G ratio of 2.98 and a beta of 0.89. Quest Diagnostics Incorporated has a 52-week low of $119.59 and a 52-week high of $145.62.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings results on Tuesday, April 23rd. The medical research company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.86 by $0.18. Quest Diagnostics had a return on equity of 15.52% and a net margin of 9.11%. The business had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.29 billion. During the same quarter last year, the business posted $2.04 earnings per share. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. Equities analysts forecast that Quest Diagnostics Incorporated will post 8.79 EPS for the current fiscal year.

Quest Diagnostics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 22nd. Shareholders of record on Monday, July 8th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Monday, July 8th. Quest Diagnostics’s dividend payout ratio (DPR) is presently 40.38%.

About Quest Diagnostics

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.