WBI Investments LLC Takes $4.18 Million Position in Quest Diagnostics Incorporated (NYSE:DGX)

WBI Investments LLC purchased a new stake in shares of Quest Diagnostics Incorporated (NYSE:DGX) in the fourth quarter, Holdings Channel reports. The firm purchased 27,681 shares of the medical research company’s stock, valued at approximately $4,176,000. Quest Diagnostics makes up about 1.0% of WBI Investments LLC’s portfolio, making the stock its 15th biggest position.

Other large investors have also added to or reduced their stakes in the company. Barclays PLC raised its holdings in Quest Diagnostics by 35.9% in the third quarter. Barclays PLC now owns 298,922 shares of the medical research company’s stock worth $46,407,000 after buying an additional 78,980 shares during the last quarter. Park Avenue Securities LLC grew its stake in shares of Quest Diagnostics by 22.7% in the fourth quarter. Park Avenue Securities LLC now owns 5,169 shares of the medical research company’s stock worth $780,000 after acquiring an additional 955 shares during the period. Hennion & Walsh Asset Management Inc. grew its position in Quest Diagnostics by 6.9% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 1,547 shares of the medical research company’s stock worth $233,000 after purchasing an additional 100 shares during the period. Avanza Fonder AB purchased a new stake in Quest Diagnostics during the 4th quarter valued at $1,431,000. Finally, Merit Financial Group LLC grew its stake in shares of Quest Diagnostics by 39.6% during the 4th quarter. Merit Financial Group LLC now owns 2,452 shares of the medical research company’s stock valued at $370,000 after purchasing an additional 696 shares during the period. Institutional investors own 88.06% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on DGX. Mizuho lifted their target price on Quest Diagnostics from $178.00 to $189.00 and gave the company an “outperform” rating in a research report on Wednesday, April 9th. Barclays upped their price objective on Quest Diagnostics from $175.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 23rd. Redburn Atlantic started coverage on shares of Quest Diagnostics in a report on Wednesday, April 2nd. They set a “buy” rating and a $195.00 price objective for the company. Truist Financial raised their target price on shares of Quest Diagnostics from $182.00 to $190.00 and gave the company a “hold” rating in a research note on Wednesday, April 23rd. Finally, Citigroup downgraded shares of Quest Diagnostics from a “buy” rating to a “neutral” rating and set a $185.00 price objective for the company. in a report on Tuesday, March 4th. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $185.73.

Insiders Place Their Bets

In other news, SVP Michael E. Prevoznik sold 604 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $170.99, for a total transaction of $103,277.96. Following the transaction, the senior vice president now owns 39,845 shares of the company’s stock, valued at approximately $6,813,096.55. The trade was a 1.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Karthik Kuppusamy sold 2,555 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $170.00, for a total value of $434,350.00. Following the sale, the senior vice president now directly owns 10,575 shares of the company’s stock, valued at approximately $1,797,750. This trade represents a 19.46% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,124 shares of company stock worth $9,341,875. Company insiders own 8.16% of the company’s stock.

Quest Diagnostics Trading Up 0.8%

NYSE:DGX opened at $177.88 on Monday. The company has a market capitalization of $19.86 billion, a P/E ratio of 23.13, a PEG ratio of 2.16 and a beta of 0.52. The company has a current ratio of 1.10, a quick ratio of 1.02 and a debt-to-equity ratio of 0.82. The firm has a fifty day simple moving average of $170.04 and a 200-day simple moving average of $163.66. Quest Diagnostics Incorporated has a 12 month low of $135.47 and a 12 month high of $179.32.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings results on Tuesday, April 22nd. The medical research company reported $2.21 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.06. Quest Diagnostics had a return on equity of 15.07% and a net margin of 8.80%. The company had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.63 billion. On average, equities research analysts anticipate that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current year.

Quest Diagnostics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, July 7th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, July 7th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.80%. Quest Diagnostics’s dividend payout ratio (DPR) is 40.46%.

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.