Alpha Cubed Investments LLC Increases Position in Quest Diagnostics Incorporated $DGX

Alpha Cubed Investments LLC raised its holdings in Quest Diagnostics Incorporated (NYSE:DGX) by 1,589.0% in the third quarter, Holdings Channel reports. The fund owned 71,190 shares of the medical research company’s stock after buying an additional 66,975 shares during the period. Alpha Cubed Investments LLC’s holdings in Quest Diagnostics were worth $13,567,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Brighton Jones LLC acquired a new stake in shares of Quest Diagnostics in the fourth quarter valued at approximately $323,000. Signaturefd LLC boosted its stake in Quest Diagnostics by 7.1% during the second quarter. Signaturefd LLC now owns 1,774 shares of the medical research company’s stock worth $319,000 after buying an additional 118 shares during the last quarter. GC Wealth Management RIA LLC purchased a new stake in Quest Diagnostics in the 2nd quarter valued at $275,000. Janney Montgomery Scott LLC increased its stake in shares of Quest Diagnostics by 11.8% in the 2nd quarter. Janney Montgomery Scott LLC now owns 20,142 shares of the medical research company’s stock worth $3,618,000 after acquiring an additional 2,132 shares during the last quarter. Finally, PFG Investments LLC increased its stake in shares of Quest Diagnostics by 4.9% in the 2nd quarter. PFG Investments LLC now owns 1,952 shares of the medical research company’s stock worth $351,000 after acquiring an additional 92 shares during the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Leerink Partners boosted their price target on shares of Quest Diagnostics from $203.00 to $210.00 and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Wall Street Zen downgraded shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Sunday, January 25th. Jefferies Financial Group increased their price target on shares of Quest Diagnostics from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Tuesday, October 21st. Piper Sandler raised their price target on shares of Quest Diagnostics from $190.00 to $200.00 and gave the stock a “neutral” rating in a report on Monday, October 27th. Finally, Mizuho lifted their price target on shares of Quest Diagnostics from $190.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Seven equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, Quest Diagnostics has a consensus rating of “Hold” and a consensus target price of $197.27.

Insider Transactions at Quest Diagnostics

In related news, Director Vicky B. Gregg sold 1,250 shares of the stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $191.76, for a total transaction of $239,700.00. Following the transaction, the director owned 17,037 shares of the company’s stock, valued at approximately $3,267,015.12. This represents a 6.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO J. E. Davis sold 55,093 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $192.22, for a total value of $10,589,976.46. Following the transaction, the chief executive officer owned 120,480 shares of the company’s stock, valued at $23,158,665.60. This trade represents a 31.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 64,289 shares of company stock worth $12,318,360 over the last ninety days. Company insiders own 8.16% of the company’s stock.

Quest Diagnostics Stock Performance

Shares of DGX stock opened at $182.31 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.04 and a current ratio of 1.13. The firm has a market cap of $20.28 billion, a P/E ratio of 21.40, a P/E/G ratio of 2.32 and a beta of 0.64. The firm’s 50 day moving average price is $181.45 and its 200-day moving average price is $180.40. Quest Diagnostics Incorporated has a one year low of $153.99 and a one year high of $197.55.

Quest Diagnostics Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 28th. Shareholders of record on Tuesday, January 13th were paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Tuesday, January 13th. Quest Diagnostics’s dividend payout ratio is 37.56%.

Quest Diagnostics Company Profile

Quest Diagnostics (NYSE: DGX) is a leading provider of diagnostic information services that supports clinical decision-making for patients, physicians and healthcare organizations. The company operates a network of clinical laboratories and patient service centers that perform a broad range of laboratory tests and diagnostic assays used in routine care, disease diagnosis, monitoring and screening.

Its services span core clinical laboratory testing, anatomic pathology, molecular and genomic diagnostics, infectious disease testing and toxicology.