Strs Ohio Raises Stock Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

Strs Ohio increased its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 7.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 16,270 shares of the medical research company’s stock after buying an additional 1,150 shares during the quarter. Strs Ohio’s holdings in Quest Diagnostics were worth $2,243,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Chilton Capital Management LLC bought a new stake in shares of Quest Diagnostics during the 1st quarter worth $28,000. NBC Securities Inc. purchased a new stake in Quest Diagnostics during the third quarter worth about $25,000. BKM Wealth Management LLC bought a new stake in Quest Diagnostics in the fourth quarter worth about $29,000. VisionPoint Advisory Group LLC boosted its stake in Quest Diagnostics by 100.0% in the third quarter. VisionPoint Advisory Group LLC now owns 218 shares of the medical research company’s stock valued at $27,000 after acquiring an additional 109 shares during the last quarter. Finally, FinTrust Capital Advisors LLC grew its position in shares of Quest Diagnostics by 1,100.0% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 264 shares of the medical research company’s stock valued at $32,000 after acquiring an additional 242 shares during the period. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Price Performance

DGX stock opened at $128.44 on Friday. The firm has a 50 day moving average of $128.32 and a 200-day moving average of $130.77. The company has a current ratio of 1.31, a quick ratio of 1.20 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $14.26 billion, a P/E ratio of 17.15, a price-to-earnings-growth ratio of 2.74 and a beta of 0.91. Quest Diagnostics Incorporated has a 12 month low of $119.59 and a 12 month high of $148.62.

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

Quest Diagnostics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 22nd. Shareholders of record on Monday, April 8th will be paid 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 yield of 2.34%. The ex-dividend date is Friday, April 5th. Quest Diagnostics’s dividend payout ratio is currently 37.92%.

Analysts Set New Price Targets

Several equities analysts recently commented on DGX shares. Barclays began coverage on Quest Diagnostics in a research note on Wednesday, January 3rd. They issued an “equal weight” rating and a $145.00 price objective on the stock. StockNews.com cut Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Wednesday. TheStreet lowered Quest Diagnostics from a “b-” rating to a “c” rating in a report on Monday, February 5th. Truist Financial reaffirmed a “hold” rating and set a $145.00 price objective on shares of Quest Diagnostics in a report on Wednesday, March 20th. Finally, Leerink Partnrs reiterated a “market perform” rating on shares of Quest Diagnostics in a research note on Monday, February 26th. Ten analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Quest Diagnostics has a consensus rating of “Hold” and an average price target of $144.18.

Insider Activity

In related news, EVP Catherine T. Doherty sold 821 shares of the company’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 value of $103,560.94. Following the transaction, the executive vice president now directly owns 70,800 shares in the company, valued at $8,930,712. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Quest Diagnostics news, EVP Catherine T. Doherty sold 821 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 value of $103,560.94. Following the completion of the transaction, the executive vice president now owns 70,800 shares of the company’s stock, valued at approximately $8,930,712. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Vicky B. Gregg sold 2,500 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $126.64, for a total transaction of $316,600.00. Following the sale, the director now owns 16,329 shares in the company, valued at approximately $2,067,904.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,150 shares of company stock worth $1,913,202. 0.79% of the stock is currently owned by insiders.

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.