Quest Diagnostics Incorporated (NYSE:DGX) Stock Position Increased by Occidental Asset Management LLC

Occidental Asset Management LLC grew its position in Quest Diagnostics Incorporated (NYSE:DGX) by 4.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,540 shares of the medical research company’s stock after purchasing an additional 1,046 shares during the period. Occidental Asset Management LLC’s holdings in Quest Diagnostics were worth $3,499,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of DGX. Rothschild Investment LLC bought a new position in Quest Diagnostics in the 2nd quarter worth approximately $26,000. Innealta Capital LLC acquired a new position in Quest Diagnostics during the 2nd quarter worth $31,000. Larson Financial Group LLC grew its stake in shares of Quest Diagnostics by 77.5% in the second quarter. Larson Financial Group LLC now owns 229 shares of the medical research company’s stock worth $31,000 after purchasing an additional 100 shares in the last quarter. Riverview Trust Co acquired a new position in shares of Quest Diagnostics during the first quarter valued at $33,000. Finally, TruNorth Capital Management LLC bought a new stake in shares of Quest Diagnostics during the second quarter valued at about $33,000. Institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Stock Up 0.2 %

Shares of Quest Diagnostics stock opened at $149.00 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 1.00 and a debt-to-equity ratio of 0.57. Quest Diagnostics Incorporated has a 12-month low of $120.87 and a 12-month high of $159.36. The firm has a market capitalization of $16.55 billion, a PE ratio of 20.05, a price-to-earnings-growth ratio of 2.45 and a beta of 0.89. The stock’s fifty day moving average is $152.57 and its 200-day moving average is $143.64.

Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings data on Tuesday, July 23rd. The medical research company reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.04. The company had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.39 billion. Quest Diagnostics had a net margin of 8.99% and a return on equity of 15.35%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.30 earnings per share. Equities analysts anticipate that Quest Diagnostics Incorporated will post 8.89 earnings per share for the current year.

Quest Diagnostics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Friday, October 4th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.01%. The ex-dividend date is Friday, October 4th. Quest Diagnostics’s dividend payout ratio (DPR) is currently 40.38%.

Insider Activity

In other news, SVP Karthik Kuppusamy sold 1,990 shares of Quest Diagnostics stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $153.26, for a total transaction of $304,987.40. Following the transaction, the senior vice president now owns 11,459 shares in the company, valued at approximately $1,756,206.34. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, SVP Mark E. Delaney sold 420 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $143.08, for a total transaction of $60,093.60. Following the completion of the sale, the senior vice president now directly owns 5,019 shares in the company, valued at approximately $718,118.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Karthik Kuppusamy sold 1,990 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $153.26, for a total transaction of $304,987.40. Following the transaction, the senior vice president now directly owns 11,459 shares in the company, valued at $1,756,206.34. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on DGX. Evercore ISI assumed coverage on shares of Quest Diagnostics in a research report on Wednesday, August 28th. They issued an “in-line” rating and a $165.00 target price for the company. Robert W. Baird raised their price objective on shares of Quest Diagnostics from $153.00 to $154.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Piper Sandler boosted their target price on Quest Diagnostics from $145.00 to $150.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Citigroup raised Quest Diagnostics from a “neutral” rating to a “buy” rating and increased their price target for the company from $145.00 to $165.00 in a research note on Wednesday, July 10th. Finally, Truist Financial boosted their price objective on Quest Diagnostics from $158.00 to $165.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $154.92.

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.