Sigma Planning Corp Buys 124 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

Sigma Planning Corp grew its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 2.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,497 shares of the medical research company’s stock after buying an additional 124 shares during the period. Sigma Planning Corp’s holdings in Quest Diagnostics were worth $829,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mizuho Securities USA LLC increased its holdings in Quest Diagnostics by 5,168.5% during the 3rd quarter. Mizuho Securities USA LLC now owns 451,403 shares of the medical research company’s stock worth $70,080,000 after acquiring an additional 442,835 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of Quest Diagnostics by 25.4% in the third quarter. BNP Paribas Financial Markets now owns 747,298 shares of the medical research company’s stock worth $116,018,000 after purchasing an additional 151,365 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Quest Diagnostics by 535.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 128,440 shares of the medical research company’s stock worth $19,376,000 after buying an additional 108,224 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Quest Diagnostics by 23.8% during the fourth quarter. Principal Financial Group Inc. now owns 543,472 shares of the medical research company’s stock valued at $81,994,000 after buying an additional 104,495 shares during the period. Finally, Barclays PLC grew its position in Quest Diagnostics by 35.9% during the third quarter. Barclays PLC now owns 298,922 shares of the medical research company’s stock worth $46,407,000 after buying an additional 78,980 shares in the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

Quest Diagnostics Stock Up 0.9 %

DGX opened at $175.69 on Wednesday. Quest Diagnostics Incorporated has a 12 month low of $123.66 and a 12 month high of $176.44. The company has a current ratio of 1.10, a quick ratio of 1.02 and a debt-to-equity ratio of 0.82. The business’s 50-day moving average price is $157.99 and its 200-day moving average price is $156.17. The company has a market cap of $19.50 billion, a P/E ratio of 22.85, a P/E/G ratio of 2.16 and a beta of 0.91.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings results on Thursday, January 30th. The medical research company reported $2.23 EPS for the quarter, topping analysts’ consensus estimates of $2.19 by $0.04. Quest Diagnostics had a return on equity of 15.07% and a net margin of 8.80%. On average, equities analysts expect that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be issued a dividend of $0.80 per share. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date is Monday, April 7th. Quest Diagnostics’s dividend payout ratio is currently 41.61%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Jefferies Financial Group reaffirmed a “buy” rating and issued a $185.00 price target (up previously from $175.00) on shares of Quest Diagnostics in a report on Tuesday, December 10th. Truist Financial raised their target price on shares of Quest Diagnostics from $172.00 to $182.00 and gave the company a “hold” rating in a research note on Friday, January 31st. Morgan Stanley raised shares of Quest Diagnostics from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $145.00 to $172.00 in a report on Tuesday, December 17th. Barclays raised their price objective on shares of Quest Diagnostics from $168.00 to $175.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Finally, UBS Group upped their target price on shares of Quest Diagnostics from $166.00 to $170.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $178.23.

Insider Buying and Selling at Quest Diagnostics

In other news, Director Vicky B. Gregg sold 1,250 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $164.57, for a total transaction of $205,712.50. Following the transaction, the director now directly owns 16,867 shares of the company’s stock, valued at approximately $2,775,802.19. The trade was a 6.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value of $90,794.85. Following the transaction, the executive vice president now owns 71,356 shares of the company’s stock, valued at approximately $12,109,826.76. This represents a 0.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,792 shares of company stock valued at $465,998 in the last quarter. Company insiders own 0.79% of the company’s stock.

Quest Diagnostics Company 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.