Global Retirement Partners LLC Acquires 173 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

Global Retirement Partners LLC lifted its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 45.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 555 shares of the medical research company’s stock after purchasing an additional 173 shares during the period. Global Retirement Partners LLC’s holdings in Quest Diagnostics were worth $84,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sierra Ocean LLC bought a new stake in shares of Quest Diagnostics during the 4th quarter valued at about $33,000. Versant Capital Management Inc boosted its position in shares of Quest Diagnostics by 340.4% during the 4th quarter. Versant Capital Management Inc now owns 251 shares of the medical research company’s stock valued at $38,000 after purchasing an additional 194 shares in the last quarter. First Financial Corp IN bought a new stake in shares of Quest Diagnostics during the 4th quarter valued at about $38,000. Global Trust Asset Management LLC bought a new position in Quest Diagnostics in the fourth quarter worth approximately $49,000. Finally, Sentry Investment Management LLC bought a new position in Quest Diagnostics in the third quarter worth approximately $82,000. Institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Stock Up 0.8 %

DGX stock opened at $172.86 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $19.18 billion, a PE ratio of 22.48, a P/E/G ratio of 2.16 and a beta of 0.91. The stock’s 50 day moving average is $159.63 and its 200-day moving average is $156.73. Quest Diagnostics Incorporated has a twelve month low of $123.66 and a twelve month high of $176.44.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Thursday, January 30th. The medical research company reported $2.23 EPS for the quarter, beating analysts’ consensus estimates of $2.19 by $0.04. Quest Diagnostics had a return on equity of 15.07% and a net margin of 8.80%. Sell-side analysts expect that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.85%. This is an increase from Quest Diagnostics’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Monday, April 7th. Quest Diagnostics’s dividend payout ratio (DPR) is presently 41.61%.

Insider Activity at Quest Diagnostics

In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 528 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $172.61, for a total value of $91,138.08. Following the completion of the sale, the senior vice president now directly owns 39,031 shares of the company’s stock, valued at $6,737,140.91. This trade represents a 1.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Catherine T. Doherty sold 535 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $169.71, for a total value of $90,794.85. Following the completion of the sale, the executive vice president now directly owns 71,356 shares of the company’s stock, valued at $12,109,826.76. This represents a 0.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,144 shares of company stock valued at $699,367. 0.79% of the stock is owned by insiders.

Analysts Set New Price Targets

DGX has been the topic of several recent research reports. Bank of America increased their price target on Quest Diagnostics from $179.00 to $182.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Leerink Partners upgraded Quest Diagnostics from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $169.00 to $174.00 in a report on Monday, January 6th. JPMorgan Chase & Co. increased their price target on Quest Diagnostics from $173.00 to $180.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. 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 report on Tuesday, December 10th. Finally, Mizuho increased their price target on Quest Diagnostics from $177.00 to $178.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $178.23.

Quest Diagnostics Company 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.