NorthCrest Asset Manangement LLC Grows Stock Position in Quest Diagnostics Incorporated (NYSE:DGX)

NorthCrest Asset Manangement LLC lifted its stake in Quest Diagnostics Incorporated (NYSE:DGXFree Report) by 5.5% during the 1st quarter, Holdings Channel reports. The institutional investor owned 2,225 shares of the medical research company’s stock after buying an additional 115 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Quest Diagnostics were worth $376,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Bruce G. Allen Investments LLC increased its holdings in shares of Quest Diagnostics by 57.8% in the first quarter. Bruce G. Allen Investments LLC now owns 183 shares of the medical research company’s stock worth $31,000 after buying an additional 67 shares during the period. Sierra Ocean LLC bought a new stake in shares of Quest Diagnostics in the fourth quarter worth about $33,000. NBC Securities Inc. bought a new stake in shares of Quest Diagnostics in the first quarter worth about $35,000. FPC Investment Advisory Inc. bought a new stake in shares of Quest Diagnostics in the fourth quarter worth about $45,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Quest Diagnostics in the fourth quarter worth about $54,000. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Insider Activity

In related news, CEO J. E. Davis sold 39,191 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $168.46, for a total value of $6,602,115.86. Following the completion of the transaction, the chief executive officer now directly owns 127,623 shares in the company, valued at $21,499,370.58. The trade was a 23.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Mark E. Delaney sold 874 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $175.72, for a total transaction of $153,579.28. Following the completion of the transaction, the senior vice president now owns 8,372 shares of the company’s stock, valued at approximately $1,471,127.84. The trade was a 9.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,620 shares of company stock worth $7,190,045. Insiders own 8.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on DGX shares. Wall Street Zen cut Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Saturday, June 7th. Piper Sandler raised their target price on Quest Diagnostics from $180.00 to $200.00 and gave the stock a “neutral” rating in a research note on Monday, April 28th. Truist Financial raised their target price on Quest Diagnostics from $182.00 to $190.00 and gave the stock a “hold” rating in a research note on Wednesday, April 23rd. Barclays raised their target price on Quest Diagnostics from $175.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 23rd. Finally, Evercore ISI raised their price objective on shares of Quest Diagnostics from $175.00 to $180.00 and gave the stock an “in-line” rating in a report on Wednesday, April 23rd. Eight 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 company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $185.73.

Check Out Our Latest Analysis on DGX

Quest Diagnostics Price Performance

DGX stock opened at $180.04 on Monday. The firm has a 50 day moving average price of $172.77 and a 200-day moving average price of $165.69. Quest Diagnostics Incorporated has a 52-week low of $135.47 and a 52-week high of $181.91. The firm has a market capitalization of $20.10 billion, a price-to-earnings ratio of 23.41, a PEG ratio of 2.16 and a beta of 0.49. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.02 and a current ratio of 1.10.

Quest Diagnostics (NYSE:DGXGet Free Report) last released its earnings results on Tuesday, April 22nd. The medical research company reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.06. Quest Diagnostics had a net margin of 8.80% and a return on equity of 15.07%. The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.63 billion. Equities research analysts forecast that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, July 7th will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, July 7th. This represents a $3.20 annualized dividend and a dividend yield of 1.78%. Quest Diagnostics’s payout ratio is 40.46%.

Quest Diagnostics 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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