Dynamic Technology Lab Private Ltd Has $1.62 Million Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

Dynamic Technology Lab Private Ltd raised its holdings in Quest Diagnostics Incorporated (NYSE:DGX) by 175.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,750 shares of the medical research company’s stock after buying an additional 6,846 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Quest Diagnostics were worth $1,622,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Sierra Ocean LLC acquired a new stake in Quest Diagnostics during the 4th quarter valued at $33,000. Versant Capital Management Inc lifted its stake in shares of Quest Diagnostics by 340.4% during the 4th quarter. Versant Capital Management Inc now owns 251 shares of the medical research company’s stock worth $38,000 after buying an additional 194 shares during the last quarter. First Financial Corp IN bought a new stake in shares of Quest Diagnostics during the 4th quarter worth about $38,000. FPC Investment Advisory Inc. acquired a new position in Quest Diagnostics in the 4th quarter valued at about $45,000. Finally, Global Trust Asset Management LLC bought a new position in Quest Diagnostics in the 4th quarter valued at about $49,000. 88.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on DGX shares. Leerink Partners raised Quest Diagnostics from a “market perform” rating to an “outperform” rating and upped their target price for the company from $169.00 to $174.00 in a research report on Monday, January 6th. Redburn Atlantic started coverage on Quest Diagnostics in a research report on Wednesday. They set a “buy” rating and a $195.00 price objective on the stock. Leerink Partnrs raised Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. JPMorgan Chase & Co. upped their price target on shares of Quest Diagnostics from $173.00 to $180.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Finally, Barclays boosted their price objective on shares of Quest Diagnostics from $168.00 to $175.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $179.57.

Insiders Place Their Bets

In other news, CEO J. E. Davis sold 39,191 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $168.46, for a total transaction of $6,602,115.86. Following the sale, the chief executive officer now directly owns 127,623 shares in the company, valued at approximately $21,499,370.58. The trade was a 23.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Karthik Kuppusamy sold 2,555 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $170.00, for a total transaction of $434,350.00. Following the completion of the transaction, the senior vice president now owns 10,575 shares of the company’s stock, valued at approximately $1,797,750. This trade represents a 19.46 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,903 shares of company stock valued at $9,460,221. 0.79% of the stock is currently owned by insiders.

Quest Diagnostics Stock Down 3.8 %

NYSE DGX opened at $164.08 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.10 and a quick ratio of 1.02. Quest Diagnostics Incorporated has a fifty-two week low of $125.42 and a fifty-two week high of $178.87. The stock has a market capitalization of $18.21 billion, a PE ratio of 21.34, a PEG ratio of 2.16 and a beta of 0.78. The business has a fifty day moving average price of $168.21 and a two-hundred day moving average price of $159.49.

Quest Diagnostics (NYSE:DGX) last released its earnings results on Thursday, January 30th. The medical research company reported $2.23 earnings per share (EPS) for the quarter, beating 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%. Equities analysts expect that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal year.

Quest Diagnostics Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be given a $0.80 dividend. The ex-dividend date is Monday, April 7th. This represents a $3.20 dividend on an annualized basis and a yield of 1.95%. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.75. Quest Diagnostics’s dividend payout ratio (DPR) is currently 41.61%.

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.