Quest Diagnostics Incorporated (NYSE:DGX) Shares Bought by Grantham Mayo Van Otterloo & Co. LLC

Grantham Mayo Van Otterloo & Co. LLC lifted its position in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 1.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,268,990 shares of the medical research company’s stock after buying an additional 26,214 shares during the period. Quest Diagnostics makes up approximately 1.1% of Grantham Mayo Van Otterloo & Co. LLC’s portfolio, making the stock its 28th largest position. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Quest Diagnostics were worth $342,300,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in DGX. Sierra Ocean LLC purchased a new position in Quest Diagnostics in the fourth quarter worth approximately $33,000. Versant Capital Management Inc grew its holdings 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 worth $38,000 after purchasing an additional 194 shares during the period. First Financial Corp IN purchased a new position in shares of Quest Diagnostics during the 4th quarter worth $38,000. FPC Investment Advisory Inc. acquired a new stake in shares of Quest Diagnostics during the 4th quarter worth about $45,000. Finally, Global Trust Asset Management LLC purchased a new stake in Quest Diagnostics in the 4th quarter valued at about $49,000. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Citigroup cut shares of Quest Diagnostics from a “buy” rating to a “neutral” rating and set a $185.00 price target for the company. in a research report on Tuesday, March 4th. Robert W. Baird lifted their target price on shares of Quest Diagnostics from $190.00 to $191.00 and gave the company an “outperform” rating in a report on Thursday, March 20th. Jefferies Financial Group restated a “buy” rating and set a $185.00 price target (up from $175.00) on shares of Quest Diagnostics in a research note on Tuesday, December 10th. Piper Sandler reaffirmed a “neutral” rating and issued a $180.00 price objective (up from $165.00) on shares of Quest Diagnostics in a research note on Monday, February 3rd. Finally, Truist Financial increased their target price on Quest Diagnostics from $172.00 to $182.00 and gave the stock a “hold” rating in a research note on Friday, January 31st. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Quest Diagnostics has an average rating of “Moderate Buy” and a consensus target price of $179.57.

Insider Activity at Quest Diagnostics

In other Quest Diagnostics news, CEO J. E. Davis sold 39,191 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $168.46, for a total transaction of $6,602,115.86. Following the transaction, the chief executive officer now owns 127,623 shares of the company’s stock, valued at approximately $21,499,370.58. This trade represents a 23.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Mark E. Delaney sold 403 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $164.30, for a total value of $66,212.90. Following the completion of the sale, the senior vice president now directly owns 4,624 shares of the company’s stock, valued at $759,723.20. The trade was a 8.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,903 shares of company stock valued at $9,460,221 over the last three months. 0.79% of the stock is owned by corporate insiders.

Quest Diagnostics Trading Down 3.8 %

Shares of NYSE:DGX opened at $164.08 on Friday. Quest Diagnostics Incorporated has a 52 week low of $125.42 and a 52 week high of $178.87. The company’s 50 day moving average is $168.21 and its two-hundred day moving average is $159.49. The company has a market cap of $18.21 billion, a PE ratio of 21.34, a P/E/G ratio of 2.16 and a beta of 0.78. The company has a current ratio of 1.10, a quick ratio of 1.02 and a debt-to-equity ratio of 0.82.

Quest Diagnostics (NYSE:DGX) last posted its earnings results on Thursday, January 30th. The medical research company reported $2.23 EPS for the quarter, beating the consensus estimate of $2.19 by $0.04. Quest Diagnostics had a return on equity of 15.07% and a net margin of 8.80%. Equities analysts predict that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal year.

Quest Diagnostics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be paid a dividend of $0.80 per share. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.20 annualized dividend and a yield of 1.95%. Quest Diagnostics’s payout ratio is presently 41.61%.

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.