Evermay Wealth Management LLC lessened its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX – Free Report) by 11.9% during the 4th quarter, Holdings Channel reports. The firm owned 1,499 shares of the medical research company’s stock after selling 202 shares during the period. Evermay Wealth Management LLC’s holdings in Quest Diagnostics were worth $226,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc increased its holdings in shares of Quest Diagnostics by 340.4% in the fourth quarter. Versant Capital Management Inc now owns 251 shares of the medical research company’s stock worth $38,000 after purchasing an additional 194 shares during the last quarter. First Financial Corp IN purchased a new stake in shares of Quest Diagnostics during the 4th quarter worth approximately $38,000. Sunbelt Securities Inc. bought a new position in shares of Quest Diagnostics during the 2nd quarter valued at approximately $40,000. Global Trust Asset Management LLC bought a new position in shares of Quest Diagnostics during the 4th quarter valued at approximately $49,000. Finally, Quarry LP purchased a new position in shares of Quest Diagnostics in the second quarter valued at $74,000. 88.06% of the stock is currently owned by institutional investors.
Quest Diagnostics Stock Performance
Shares of DGX stock opened at $162.77 on Friday. Quest Diagnostics Incorporated has a 12-month low of $123.04 and a 12-month high of $167.08. The business’s fifty day simple moving average is $155.42 and its 200-day simple moving average is $153.50. The company has a current ratio of 1.25, a quick ratio of 1.17 and a debt-to-equity ratio of 0.83. The company has a market cap of $18.17 billion, a PE ratio of 21.88, a PEG ratio of 2.43 and a beta of 0.90.
Quest Diagnostics Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.97%. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Monday, April 7th. Quest Diagnostics’s payout ratio is 40.32%.
Insider Activity at Quest Diagnostics
In other news, CAO Michael J. Deppe sold 18,755 shares of Quest Diagnostics stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $154.05, for a total value of $2,889,207.75. Following the sale, the chief accounting officer now owns 34,941 shares in the company, valued at $5,382,661.05. This trade represents a 34.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.79% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms recently commented on DGX. Jefferies Financial Group reiterated a “buy” rating and issued a $185.00 price target (up previously from $175.00) on shares of Quest Diagnostics in a research report on Tuesday, December 10th. StockNews.com upgraded Quest Diagnostics from a “hold” rating to a “buy” rating in a report on Wednesday. Leerink Partners upgraded Quest Diagnostics from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $169.00 to $174.00 in a research report on Monday, January 6th. Piper Sandler increased their target price on shares of Quest Diagnostics from $150.00 to $165.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. Finally, Barclays raised their target price on shares of Quest Diagnostics from $168.00 to $175.00 and gave the stock an “equal weight” rating in a report on Friday. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $174.00.
Check Out Our Latest Analysis on DGX
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.
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