Werlinich Asset Management LLC trimmed its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX – Free Report) by 9.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,410 shares of the medical research company’s stock after selling 345 shares during the period. Werlinich Asset Management LLC’s holdings in Quest Diagnostics were worth $515,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Avestar Capital LLC boosted its holdings in Quest Diagnostics by 1.1% in the third quarter. Avestar Capital LLC now owns 6,288 shares of the medical research company’s stock worth $976,000 after acquiring an additional 71 shares in the last quarter. Legacy Financial Advisors Inc. boosted its stake in Quest Diagnostics by 1.6% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 4,697 shares of the medical research company’s stock worth $643,000 after purchasing an additional 72 shares in the last quarter. Empirical Finance LLC increased its stake in Quest Diagnostics by 2.0% during the 3rd quarter. Empirical Finance LLC now owns 3,948 shares of the medical research company’s stock valued at $613,000 after purchasing an additional 76 shares in the last quarter. Raymond James Trust N.A. raised its holdings in Quest Diagnostics by 3.5% in the third quarter. Raymond James Trust N.A. now owns 2,572 shares of the medical research company’s stock worth $399,000 after buying an additional 88 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Quest Diagnostics by 6.8% in the third quarter. Blue Trust Inc. now owns 1,392 shares of the medical research company’s stock worth $216,000 after buying an additional 89 shares in the last quarter. 88.06% of the stock is owned by institutional investors.
Quest Diagnostics Trading Up 0.7 %
NYSE:DGX opened at $151.38 on Friday. The firm has a market capitalization of $16.90 billion, a price-to-earnings ratio of 20.35, a price-to-earnings-growth ratio of 2.37 and a beta of 0.90. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.25 and a quick ratio of 1.17. The business has a fifty day moving average price of $156.56 and a 200-day moving average price of $152.47. Quest Diagnostics Incorporated has a one year low of $123.04 and a one year high of $165.32.
Quest Diagnostics Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Tuesday, January 14th will be paid a $0.75 dividend. The ex-dividend date is Tuesday, January 14th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.98%. Quest Diagnostics’s dividend payout ratio (DPR) is presently 40.32%.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on DGX shares. Leerink Partners raised shares of Quest Diagnostics from a “market perform” rating to an “outperform” rating and raised their price target for the company from $169.00 to $174.00 in a research report on Monday, January 6th. Piper Sandler upped their price target on Quest Diagnostics from $150.00 to $165.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Morgan Stanley raised Quest Diagnostics from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $145.00 to $172.00 in a research report on Tuesday, December 17th. UBS Group boosted their target price on Quest Diagnostics from $165.00 to $166.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $185.00 price target (up previously from $175.00) on shares of Quest Diagnostics in a report on Tuesday, December 10th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $172.15.
View Our Latest Research Report on DGX
Insider Transactions at Quest Diagnostics
In related news, SVP Karthik Kuppusamy sold 1,775 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $156.92, for a total transaction of $278,533.00. Following the completion of the sale, the senior vice president now owns 9,734 shares in the company, valued at approximately $1,527,459.28. This trade represents a 15.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Michael J. Deppe sold 18,755 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $154.05, for a total value of $2,889,207.75. Following the completion of the transaction, the chief accounting officer now directly owns 34,941 shares in the company, valued at approximately $5,382,661.05. This represents a 34.93 % 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.
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.
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