Winnow Wealth LLC Acquires New Stake in Quest Diagnostics Incorporated $DGX

Winnow Wealth LLC bought a new position in shares of Quest Diagnostics Incorporated (NYSE:DGX) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 6,329 shares of the medical research company’s stock, valued at approximately $1,209,000. Quest Diagnostics makes up 0.9% of Winnow Wealth LLC’s holdings, making the stock its 18th biggest position.

A number of other institutional investors have also added to or reduced their stakes in the business. MTM Investment Management LLC purchased a new position in shares of Quest Diagnostics during the second quarter worth about $29,000. True Wealth Design LLC lifted its position in Quest Diagnostics by 369.7% during the third quarter. True Wealth Design LLC now owns 155 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 122 shares during the last quarter. AlphaQuest LLC lifted its position in Quest Diagnostics by 18,400.0% during the second quarter. AlphaQuest LLC now owns 185 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 184 shares during the last quarter. First Horizon Corp purchased a new position in Quest Diagnostics in the 3rd quarter worth approximately $33,000. Finally, Ameritas Advisory Services LLC bought a new position in shares of Quest Diagnostics in the 2nd quarter worth $35,000. 88.06% of the stock is currently owned by institutional investors.

Quest Diagnostics Stock Up 2.5%

DGX opened at $186.90 on Friday. Quest Diagnostics Incorporated has a 12 month low of $157.20 and a 12 month high of $197.55. The company has a current ratio of 1.13, a quick ratio of 1.04 and a debt-to-equity ratio of 0.71. The business’s 50-day moving average price is $181.36 and its 200-day moving average price is $180.53. The company has a market cap of $20.79 billion, a P/E ratio of 21.94, a P/E/G ratio of 2.31 and a beta of 0.64.

Quest Diagnostics Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 28th. Stockholders 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 dividend yield of 1.7%. The ex-dividend date of this dividend was Tuesday, January 13th. Quest Diagnostics’s dividend payout ratio is 37.56%.

Analysts Set New Price Targets

Several research analysts recently issued reports on DGX shares. Barclays upgraded shares of Quest Diagnostics from an “equal weight” rating to an “overweight” rating and set a $210.00 target price for the company in a research report on Friday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Quest Diagnostics in a report on Monday, December 29th. UBS Group increased their price objective on Quest Diagnostics from $180.00 to $190.00 and gave the company a “neutral” rating in a research report on Friday, October 17th. Piper Sandler boosted their target price on Quest Diagnostics from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Monday, October 27th. Finally, Wall Street Zen lowered Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Sunday, January 25th. Eight equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $198.27.

Insider Transactions at Quest Diagnostics

In other Quest Diagnostics news, CEO J. E. Davis sold 55,093 shares of the stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $192.22, for a total transaction of $10,589,976.46. Following the completion of the sale, the chief executive officer owned 120,480 shares of the company’s stock, valued at $23,158,665.60. This represents a 31.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Mark E. Delaney sold 7,946 shares of the firm’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $187.35, for a total transaction of $1,488,683.10. Following the completion of the sale, the senior vice president directly owned 7,530 shares in the company, valued at approximately $1,410,745.50. This trade represents a 51.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 64,289 shares of company stock worth $12,318,360. Insiders own 8.16% of the company’s stock.

Quest Diagnostics 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.