Empowered Funds LLC increased its stake in Quest Diagnostics Incorporated (NYSE:DGX – Get Rating) by 12.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,434 shares of the medical research company’s stock after buying an additional 4,140 shares during the quarter. Empowered Funds LLC’s holdings in Quest Diagnostics were worth $4,986,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of DGX. Mystic Asset Management Inc. bought a new stake in Quest Diagnostics in the fourth quarter worth $25,000. Wagner Wealth Management LLC bought a new stake in Quest Diagnostics in the fourth quarter worth $35,000. Anfield Capital Management LLC lifted its position in shares of Quest Diagnostics by 1,077.8% during the fourth quarter. Anfield Capital Management LLC now owns 212 shares of the medical research company’s stock worth $37,000 after purchasing an additional 194 shares during the last quarter. Comprehensive Financial Consultants Institutional Inc. bought a new stake in shares of Quest Diagnostics during the fourth quarter worth $38,000. Finally, NuWave Investment Management LLC bought a new stake in shares of Quest Diagnostics during the first quarter worth $40,000. Institutional investors own 89.89% of the company’s stock.
Shares of DGX stock opened at $136.68 on Friday. Quest Diagnostics Incorporated has a fifty-two week low of $125.33 and a fifty-two week high of $174.16. The firm has a market capitalization of $16.04 billion, a price-to-earnings ratio of 9.10 and a beta of 1.05. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.34 and a current ratio of 1.46. The stock’s 50-day simple moving average is $136.20 and its 200-day simple moving average is $140.71.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 20th. Stockholders of record on Wednesday, July 6th will be paid a dividend of $0.66 per share. The ex-dividend date is Tuesday, July 5th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.93%. Quest Diagnostics’s payout ratio is 17.58%.
In related news, CEO Stephen H. Rusckowski sold 282,408 shares of Quest Diagnostics stock in a transaction dated Tuesday, May 24th. The stock was sold at an average price of $140.12, for a total transaction of $39,571,008.96. Following the completion of the sale, the chief executive officer now owns 334,833 shares of the company’s stock, valued at $46,916,799.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michael E. Prevoznik sold 50,604 shares of Quest Diagnostics stock in a transaction dated Tuesday, May 17th. The stock was sold at an average price of $139.97, for a total value of $7,083,041.88. Following the sale, the senior vice president now directly owns 39,224 shares of the company’s stock, valued at approximately $5,490,183.28. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.
Several analysts have recently weighed in on DGX shares. Wells Fargo & Company lifted their target price on Quest Diagnostics from $145.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Monday, April 25th. UBS Group lifted their target price on Quest Diagnostics from $139.00 to $150.00 in a research report on Sunday, April 24th. StockNews.com downgraded Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Tuesday, June 21st. Citigroup downgraded Quest Diagnostics from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $175.00 to $140.00 in a research report on Monday, April 4th. Finally, Bank of America decreased their price objective on Quest Diagnostics from $166.00 to $163.00 and set a “buy” rating for the company in a report on Friday, April 22nd. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Quest Diagnostics currently has an average rating of “Hold” and a consensus target price of $150.33.
About Quest Diagnostics (Get Rating)
Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic information services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.
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