Aquila Investment Management LLC Buys New Position in Quest Diagnostics Incorporated (NYSE:DGX)

Aquila Investment Management LLC bought a new stake in shares of Quest Diagnostics Incorporated (NYSE:DGXFree Report) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 8,000 shares of the medical research company’s stock, valued at approximately $1,103,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Czech National Bank boosted its holdings in Quest Diagnostics by 0.4% in the fourth quarter. Czech National Bank now owns 19,692 shares of the medical research company’s stock worth $2,715,000 after acquiring an additional 75 shares in the last quarter. Mendota Financial Group LLC boosted its holdings in Quest Diagnostics by 6.2% in the fourth quarter. Mendota Financial Group LLC now owns 1,296 shares of the medical research company’s stock worth $179,000 after acquiring an additional 76 shares in the last quarter. Apollon Wealth Management LLC boosted its holdings in Quest Diagnostics by 1.6% in the fourth quarter. Apollon Wealth Management LLC now owns 4,814 shares of the medical research company’s stock worth $753,000 after acquiring an additional 78 shares in the last quarter. Exchange Traded Concepts LLC boosted its holdings in Quest Diagnostics by 1.9% in the third quarter. Exchange Traded Concepts LLC now owns 4,417 shares of the medical research company’s stock worth $538,000 after acquiring an additional 84 shares in the last quarter. Finally, Montecito Bank & Trust boosted its holdings in Quest Diagnostics by 4.7% in the fourth quarter. Montecito Bank & Trust now owns 1,909 shares of the medical research company’s stock worth $263,000 after acquiring an additional 85 shares in the last quarter. Institutional investors own 88.06% of the company’s stock.

Insider Activity at Quest Diagnostics

In related news, SVP Michael E. Prevoznik sold 5,611 shares of Quest Diagnostics stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $125.88, for a total transaction of $706,312.68. Following the completion of the sale, the senior vice president now owns 38,478 shares of the company’s stock, valued at $4,843,610.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Michael E. Prevoznik sold 661 shares of Quest Diagnostics stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $126.14, for a total transaction of $83,378.54. Following the completion of the sale, the senior vice president now owns 40,206 shares of the company’s stock, valued at $5,071,584.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael E. Prevoznik sold 5,611 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $125.88, for a total value of $706,312.68. Following the sale, the senior vice president now owns 38,478 shares in the company, valued at approximately $4,843,610.64. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,150 shares of company stock valued at $1,913,202. Company insiders own 1.70% of the company’s stock.

Quest Diagnostics Stock Performance

NYSE:DGX opened at $128.53 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.31 and a quick ratio of 1.20. The business has a fifty day simple moving average of $128.19 and a two-hundred day simple moving average of $130.65. Quest Diagnostics Incorporated has a 1 year low of $119.59 and a 1 year high of $148.62. The company has a market capitalization of $14.27 billion, a P/E ratio of 17.16, a P/E/G ratio of 2.77 and a beta of 0.91.

Quest Diagnostics (NYSE:DGXGet Free Report) last posted its quarterly earnings results on Thursday, February 1st. The medical research company reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.11 by $0.04. Quest Diagnostics had a return on equity of 15.79% and a net margin of 9.23%. The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same period last year, the company earned $1.98 earnings per share. The business’s revenue for the quarter was down 1.9% on a year-over-year basis. On average, analysts expect that Quest Diagnostics Incorporated will post 8.75 earnings per share for the current year.

Quest Diagnostics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 22nd. Stockholders of record on Monday, April 8th will be issued a $0.75 dividend. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.71. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend is Friday, April 5th. Quest Diagnostics’s dividend payout ratio (DPR) is presently 37.92%.

Analysts Set New Price Targets

Several analysts have recently commented on DGX shares. Barclays started coverage on Quest Diagnostics in a research note on Wednesday, January 3rd. They issued an “equal weight” rating and a $145.00 price objective for the company. Jefferies Financial Group raised Quest Diagnostics from a “hold” rating to a “buy” rating and increased their price objective for the stock from $140.00 to $155.00 in a research note on Wednesday, February 7th. SVB Leerink started coverage on Quest Diagnostics in a research note on Monday, February 26th. They issued a “market perform” rating and a $135.00 price objective for the company. StockNews.com raised Quest Diagnostics from a “hold” rating to a “buy” rating in a research note on Tuesday, April 9th. Finally, Truist Financial reissued a “hold” rating and issued a $145.00 price objective on shares of Quest Diagnostics in a research note on Wednesday, March 20th. Nine analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $144.18.

Read Our Latest Analysis on Quest Diagnostics

About Quest Diagnostics

(Free Report)

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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Institutional Ownership by Quarter for Quest Diagnostics (NYSE:DGX)

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