Quest Diagnostics Incorporated (NYSE:DGX) Stock Position Increased by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC boosted its position in Quest Diagnostics Incorporated (NYSE:DGX) by 38.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,308 shares of the medical research company’s stock after purchasing an additional 4,241 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Quest Diagnostics were worth $2,377,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of DGX. Mizuho Securities USA LLC lifted its position in Quest Diagnostics by 5,168.5% in the 3rd quarter. Mizuho Securities USA LLC now owns 451,403 shares of the medical research company’s stock valued at $70,080,000 after purchasing an additional 442,835 shares during the last quarter. Van Lanschot Kempen Investment Management N.V. bought a new stake in Quest Diagnostics in the 2nd quarter valued at about $48,783,000. Wedge Capital Management L L P NC lifted its position in Quest Diagnostics by 601.7% in the 2nd quarter. Wedge Capital Management L L P NC now owns 277,561 shares of the medical research company’s stock valued at $37,993,000 after purchasing an additional 238,007 shares during the last quarter. Point72 Asset Management L.P. lifted its position in Quest Diagnostics by 222.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 299,740 shares of the medical research company’s stock valued at $41,028,000 after purchasing an additional 206,640 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of Quest Diagnostics during the 2nd quarter worth about $22,049,000. 88.06% of the stock is currently owned by institutional investors.

Quest Diagnostics Stock Performance

DGX stock opened at $157.35 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.17 and a current ratio of 1.25. The stock has a market cap of $17.56 billion, a P/E ratio of 21.15, a P/E/G ratio of 2.80 and a beta of 0.89. The firm has a 50 day simple moving average of $156.24 and a 200 day simple moving average of $149.76. Quest Diagnostics Incorporated has a 52 week low of $123.04 and a 52 week high of $165.32.

Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings results on Tuesday, October 22nd. The medical research company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.26 by $0.04. The business had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Quest Diagnostics had a net margin of 8.82% and a return on equity of 15.25%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the company posted $2.22 earnings per share. Research analysts anticipate that Quest Diagnostics Incorporated will post 8.9 earnings per share for the current fiscal year.

Quest Diagnostics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Tuesday, January 14th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Tuesday, January 14th. Quest Diagnostics’s dividend payout ratio (DPR) is presently 40.32%.

Insider Buying and Selling at Quest Diagnostics

In other news, SVP Karthik Kuppusamy sold 1,775 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $156.92, for a total value of $278,533.00. Following the completion of the sale, the senior vice president now directly owns 9,734 shares in the company, valued at approximately $1,527,459.28. The trade was a 15.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Michael J. Deppe sold 18,755 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $154.05, for a total transaction of $2,889,207.75. Following the completion of the sale, the chief accounting officer now owns 34,941 shares of the company’s stock, valued at $5,382,661.05. The trade was a 34.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on DGX. Truist Financial boosted their price target on shares of Quest Diagnostics from $158.00 to $165.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. Piper Sandler boosted their price target on shares of Quest Diagnostics from $150.00 to $165.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. UBS Group boosted their price target on shares of Quest Diagnostics from $165.00 to $166.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Mizuho boosted their price target on shares of Quest Diagnostics from $160.00 to $174.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Barclays boosted their price target on shares of Quest Diagnostics from $154.00 to $168.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. Nine investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $164.58.

Quest Diagnostics Profile

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.