Simplicity Solutions LLC Boosts Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

Simplicity Solutions LLC grew its holdings in Quest Diagnostics Incorporated (NYSE:DGX) by 13.2% in the 4th quarter, HoldingsChannel reports. The firm owned 2,091 shares of the medical research company’s stock after purchasing an additional 244 shares during the quarter. Simplicity Solutions LLC’s holdings in Quest Diagnostics were worth $288,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Czech National Bank boosted its stake in shares of Quest Diagnostics by 0.4% in the fourth quarter. Czech National Bank now owns 19,692 shares of the medical research company’s stock valued at $2,715,000 after purchasing an additional 75 shares during the period. Mendota Financial Group LLC increased its holdings in shares of Quest Diagnostics by 6.2% in the 4th quarter. Mendota Financial Group LLC now owns 1,296 shares of the medical research company’s stock valued at $179,000 after acquiring an additional 76 shares during the period. Apollon Wealth Management LLC increased its holdings in shares of Quest Diagnostics by 1.6% in the 4th quarter. Apollon Wealth Management LLC now owns 4,814 shares of the medical research company’s stock valued at $753,000 after acquiring an additional 78 shares during the period. Exchange Traded Concepts LLC increased its holdings in shares of Quest Diagnostics by 1.9% in the 3rd quarter. Exchange Traded Concepts LLC now owns 4,417 shares of the medical research company’s stock valued at $538,000 after acquiring an additional 84 shares during the period. Finally, Montecito Bank & Trust increased its holdings in shares of Quest Diagnostics by 4.7% in the 4th quarter. Montecito Bank & Trust now owns 1,909 shares of the medical research company’s stock valued at $263,000 after acquiring an additional 85 shares during the period. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Insider Buying and Selling at Quest Diagnostics

In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 661 shares of the 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 $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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Quest Diagnostics news, EVP Catherine T. Doherty sold 821 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $126.14, for a total value of $103,560.94. Following the sale, the executive vice president now directly owns 70,800 shares of the company’s stock, valued at $8,930,712. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael E. Prevoznik sold 661 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $126.14, for a total value of $83,378.54. Following the completion of the sale, the senior vice president now directly owns 40,206 shares in the company, valued at $5,071,584.84. The disclosure for this sale can be found here. Insiders sold 15,150 shares of company stock valued at $1,913,202 over the last 90 days. 0.79% of the stock is owned by corporate insiders.

Quest Diagnostics Price Performance

NYSE:DGX opened at $128.44 on Friday. The firm has a market cap of $14.26 billion, a price-to-earnings ratio of 17.15, a price-to-earnings-growth ratio of 2.72 and a beta of 0.91. 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 company’s 50-day moving average is $128.32 and its two-hundred day moving average is $130.84. Quest Diagnostics Incorporated has a 12-month low of $119.59 and a 12-month high of $148.62.

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

Quest Diagnostics Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 22nd. Shareholders of record on Monday, April 8th will be given a $0.75 dividend. This is an increase from Quest Diagnostics’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Friday, April 5th. This represents a $3.00 annualized dividend and a yield of 2.34%. Quest Diagnostics’s dividend payout ratio (DPR) is 37.92%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on DGX. Leerink Partnrs reaffirmed a “market perform” rating on shares of Quest Diagnostics in a report on Monday, February 26th. StockNews.com cut shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Wednesday. TheStreet cut shares of Quest Diagnostics from a “b-” rating to a “c” rating in a research note on Monday, February 5th. SVB Leerink initiated coverage on shares of Quest Diagnostics in a research note on Monday, February 26th. They issued a “market perform” rating and a $135.00 price objective on the stock. Finally, Truist Financial reiterated a “hold” rating and issued a $145.00 price objective on shares of Quest Diagnostics in a research report on Wednesday, March 20th. Ten equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Quest Diagnostics has an average rating of “Hold” and an average target price of $144.18.

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.