Stock Traders Purchase Large Volume of Quest Diagnostics Call Options (DGX)

Quest Diagnostics Inc (NYSE:DGX) was the target of some unusual options trading on Friday. Investors purchased 1,926 call options on the stock. This is an increase of approximately 2,140% compared to the typical volume of 86 call options.

DGX has been the subject of a number of research reports. Canaccord Genuity reissued a “buy” rating and set a $110.00 target price on shares of Quest Diagnostics in a report on Tuesday, January 16th. Wells Fargo & Co initiated coverage on Quest Diagnostics in a report on Thursday, October 12th. They set a “market perform” rating and a $88.00 target price for the company. Raymond James Financial reissued a “market perform” rating on shares of Quest Diagnostics in a report on Monday, September 25th. Goldman Sachs Group downgraded Quest Diagnostics from a “conviction-buy” rating to a “buy” rating and dropped their target price for the stock from $121.00 to $113.00 in a report on Tuesday, October 10th. Finally, KeyCorp reissued a “hold” rating on shares of Quest Diagnostics in a report on Friday, October 27th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $106.45.

Quest Diagnostics (NYSE DGX) opened at $103.06 on Monday. The company has a market capitalization of $14,046.97, a PE ratio of 21.61, a P/E/G ratio of 2.03 and a beta of 0.60. Quest Diagnostics has a 52 week low of $90.10 and a 52 week high of $112.96. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.47 and a quick ratio of 1.37.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Tuesday, January 9th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend is Monday, January 8th. Quest Diagnostics’s dividend payout ratio (DPR) is presently 37.74%.

In other Quest Diagnostics news, EVP J. E. Davis sold 63,880 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $98.68, for a total transaction of $6,303,678.40. Following the completion of the sale, the executive vice president now owns 101,423 shares of the company’s stock, valued at approximately $10,008,421.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.75% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Thrivent Financial For Lutherans raised its stake in Quest Diagnostics by 2.0% in the second quarter. Thrivent Financial For Lutherans now owns 5,200 shares of the medical research company’s stock valued at $578,000 after purchasing an additional 100 shares in the last quarter. D.A. Davidson & CO. grew its position in Quest Diagnostics by 1.2% in the second quarter. D.A. Davidson & CO. now owns 12,788 shares of the medical research company’s stock valued at $1,421,000 after acquiring an additional 147 shares during the last quarter. Signet Financial Management LLC grew its position in Quest Diagnostics by 0.3% in the second quarter. Signet Financial Management LLC now owns 72,531 shares of the medical research company’s stock valued at $8,063,000 after acquiring an additional 210 shares during the last quarter. WFG Advisors LP grew its position in Quest Diagnostics by 45.3% in the second quarter. WFG Advisors LP now owns 966 shares of the medical research company’s stock valued at $107,000 after acquiring an additional 301 shares during the last quarter. Finally, Veritable L.P. grew its position in Quest Diagnostics by 5.3% in the second quarter. Veritable L.P. now owns 6,515 shares of the medical research company’s stock valued at $724,000 after acquiring an additional 326 shares during the last quarter. 88.92% of the stock is owned by institutional investors and hedge funds.

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About Quest Diagnostics

Quest Diagnostics Incorporated is a provider of diagnostic information services. The Company operates through two businesses: Diagnostic Information Services and Diagnostic Solutions. The Diagnostic Information Services business develops and delivers diagnostic testing information and services, providing insights that empower and enable a range of customers, including patients, clinicians, hospitals, integrated delivery networks (IDNs), health plans, employers and accountable care organizations (ACOs).

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