HB Wealth Management LLC Purchases 727 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

HB Wealth Management LLC boosted its position in Quest Diagnostics Incorporated (NYSE:DGXFree Report) by 17.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,868 shares of the medical research company’s stock after acquiring an additional 727 shares during the period. HB Wealth Management LLC’s holdings in Quest Diagnostics were worth $671,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in DGX. JPMorgan Chase & Co. grew its holdings in Quest Diagnostics by 380.0% in the 1st quarter. JPMorgan Chase & Co. now owns 1,458,224 shares of the medical research company’s stock worth $206,310,000 after acquiring an additional 1,154,403 shares during the last quarter. Norges Bank bought a new stake in Quest Diagnostics in the 4th quarter worth $157,412,000. Price T Rowe Associates Inc. MD grew its holdings in Quest Diagnostics by 548.7% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,125,530 shares of the medical research company’s stock worth $149,673,000 after acquiring an additional 952,037 shares during the last quarter. Vanguard Group Inc. grew its holdings in Quest Diagnostics by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 14,014,030 shares of the medical research company’s stock worth $1,917,961,000 after acquiring an additional 636,301 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in Quest Diagnostics by 12.3% in the 3rd quarter. American Century Companies Inc. now owns 3,554,517 shares of the medical research company’s stock worth $433,153,000 after acquiring an additional 388,162 shares during the last quarter. Institutional investors own 87.76% of the company’s stock.

Quest Diagnostics Trading Down 0.4 %

NYSE:DGX opened at $128.81 on Wednesday. Quest Diagnostics Incorporated has a one year low of $119.59 and a one year high of $148.62. 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 company’s 50-day simple moving average is $127.71 and its 200 day simple moving average is $130.13. The firm has a market capitalization of $14.26 billion, a P/E ratio of 17.20, a PEG ratio of 2.79 and a beta of 0.90.

Quest Diagnostics (NYSE:DGXGet Free Report) last issued its earnings results on Thursday, February 1st. The medical research company reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.11 by $0.04. The business had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.25 billion. Quest Diagnostics had a net margin of 9.23% and a return on equity of 15.79%. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.98 earnings per share. As a group, analysts forecast that Quest Diagnostics Incorporated will post 8.75 EPS for the current fiscal year.

Quest Diagnostics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 22nd. Shareholders of record on Monday, April 8th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Friday, April 5th. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.71. This represents a $3.00 annualized dividend and a yield of 2.33%. Quest Diagnostics’s payout ratio is 37.92%.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

DGX has been the topic of a number of research reports. SVB Leerink initiated coverage on shares of Quest Diagnostics in a research note on Monday, February 26th. They set a “market perform” rating and a $135.00 target price on the stock. StockNews.com lowered shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st. TheStreet lowered shares of Quest Diagnostics from a “b-” rating to a “c” rating in a research note on Monday, February 5th. UBS Group lifted their target price on shares of Quest Diagnostics from $135.00 to $137.00 and gave the company a “neutral” rating in a research note on Thursday, December 7th. Finally, Bank of America raised shares of Quest Diagnostics from a “neutral” rating to a “buy” rating and lifted their target price for the company from $140.00 to $160.00 in a research note on Tuesday, December 12th. Ten research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $144.18.

View Our Latest Stock Analysis on Quest Diagnostics

Quest Diagnostics Company Profile

(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.

See Also

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

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