30,000 Shares in Quest Diagnostics Incorporated (NYSE:DGX) Bought by Sivik Global Healthcare LLC

Sivik Global Healthcare LLC acquired a new position in Quest Diagnostics Incorporated (NYSE:DGX) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 30,000 shares of the medical research company’s stock, valued at approximately $4,136,000.

A number of other hedge funds have also bought and sold shares of the company. NBC Securities Inc. purchased a new position in shares of Quest Diagnostics in the 3rd quarter valued at $25,000. VisionPoint Advisory Group LLC increased its position in shares of Quest Diagnostics by 100.0% during the third quarter. VisionPoint Advisory Group LLC now owns 218 shares of the medical research company’s stock worth $27,000 after purchasing an additional 109 shares in the last quarter. BKM Wealth Management LLC acquired a new stake in shares of Quest Diagnostics in the 4th quarter worth $29,000. FinTrust Capital Advisors LLC boosted its position in shares of Quest Diagnostics by 1,100.0% during the third quarter. FinTrust Capital Advisors LLC now owns 264 shares of the medical research company’s stock worth $32,000 after buying an additional 242 shares during the period. Finally, Alaska Permanent Fund Corp boosted its holdings in Quest Diagnostics by 79.3% in the fourth quarter. Alaska Permanent Fund Corp now owns 242 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 107 shares during the period. Institutional investors own 88.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on DGX shares. TheStreet downgraded 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 Quest Diagnostics in a research report on Monday, February 26th. They set a “market perform” rating and a $135.00 target price on the stock. UBS Group increased their target price on Quest Diagnostics from $139.00 to $146.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Jefferies Financial Group upgraded Quest Diagnostics from a “hold” rating to a “buy” rating and lifted their price target for the company from $140.00 to $155.00 in a research note on Wednesday, February 7th. Finally, Truist Financial increased their price objective on Quest Diagnostics from $145.00 to $150.00 and gave the stock a “hold” rating in a research report on Wednesday, April 24th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $146.17.

Insider Buying and Selling at Quest Diagnostics

In related news, SVP Michael E. Prevoznik sold 661 shares of the stock in a transaction dated 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 transaction, the senior vice president now owns 40,206 shares in the company, valued at approximately $5,071,584.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Michael E. Prevoznik sold 5,611 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $125.88, for a total value of $706,312.68. Following the completion of the sale, the senior vice president now owns 38,478 shares in the company, valued at approximately $4,843,610.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Michael E. Prevoznik sold 661 shares of Quest Diagnostics stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $126.14, for a total transaction of $83,378.54. Following the transaction, the senior vice president now owns 40,206 shares in the company, valued at $5,071,584.84. The disclosure for this sale can be found here. Insiders sold a total of 15,150 shares of company stock worth $1,913,202 in the last 90 days. 0.79% of the stock is owned by corporate insiders.

Quest Diagnostics Price Performance

NYSE:DGX traded down $1.32 during trading hours on Tuesday, reaching $138.18. 1,067,313 shares of the company traded hands, compared to its average volume of 1,078,991. The firm’s 50-day moving average is $129.41 and its 200-day moving average is $131.42. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.97 and a quick ratio of 0.89. The stock has a market cap of $15.35 billion, a P/E ratio of 18.71, a P/E/G ratio of 2.92 and a beta of 0.91. Quest Diagnostics Incorporated has a 1-year low of $119.59 and a 1-year high of $145.58.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings data on Tuesday, April 23rd. The medical research company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.18. The company had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.29 billion. Quest Diagnostics had a net margin of 9.11% and a return on equity of 15.52%. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.04 EPS. Equities research analysts expect that Quest Diagnostics Incorporated will post 8.78 earnings per share for the current fiscal year.

Quest Diagnostics Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 8th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.17%. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.71. The ex-dividend date was Friday, April 5th. Quest Diagnostics’s payout ratio is presently 38.22%.

About Quest Diagnostics

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.