Linden Thomas Advisory Services LLC Has $1.48 Million Stake in Quest Diagnostics Incorporated (NYSE:DGX)

Linden Thomas Advisory Services LLC raised its holdings in Quest Diagnostics Incorporated (NYSE:DGX) by 10.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,749 shares of the medical research company’s stock after buying an additional 981 shares during the period. Linden Thomas Advisory Services LLC’s holdings in Quest Diagnostics were worth $1,482,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its stake in shares of Quest Diagnostics by 36.8% in the third quarter. JPMorgan Chase & Co. now owns 2,001,347 shares of the medical research company’s stock valued at $243,884,000 after buying an additional 538,377 shares in the last quarter. American Century Companies Inc. grew its position in shares of Quest Diagnostics by 12.3% in the 3rd quarter. American Century Companies Inc. now owns 3,554,517 shares of the medical research company’s stock valued at $433,153,000 after acquiring an additional 388,162 shares during the period. Wellington Management Group LLP increased its stake in shares of Quest Diagnostics by 14.6% during the 3rd quarter. Wellington Management Group LLP now owns 2,613,793 shares of the medical research company’s stock worth $318,517,000 after purchasing an additional 333,947 shares during the last quarter. Pathstone Family Office LLC raised its holdings in shares of Quest Diagnostics by 2,400.9% in the 3rd quarter. Pathstone Family Office LLC now owns 336,521 shares of the medical research company’s stock valued at $41,008,000 after purchasing an additional 323,065 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new stake in Quest Diagnostics in the 4th quarter valued at about $30,869,000. 88.06% of the stock is owned by institutional investors.

Quest Diagnostics Price Performance

Quest Diagnostics stock traded up $0.89 during mid-day trading on Wednesday, reaching $137.59. 640,760 shares of the company were exchanged, compared to its average volume of 1,052,251. The company has a fifty day simple moving average of $128.50 and a 200-day simple moving average of $131.03. The firm has a market cap of $15.28 billion, a PE ratio of 18.39, a PEG ratio of 2.81 and a beta of 0.91. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.31 and a quick ratio of 1.20. Quest Diagnostics Incorporated has a 12 month low of $119.59 and a 12 month high of $148.62.

Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings results on Tuesday, April 23rd. The medical research company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.18. The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.29 billion. Quest Diagnostics had a return on equity of 15.79% and a net margin of 9.23%. Quest Diagnostics’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.04 earnings per share. As a group, equities research analysts expect that Quest Diagnostics Incorporated will post 8.75 earnings per share for the current fiscal year.

Quest Diagnostics Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 8th were paid a $0.75 dividend. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.71. The ex-dividend date was Friday, April 5th. This represents a $3.00 annualized dividend and a dividend yield of 2.18%. Quest Diagnostics’s dividend payout ratio (DPR) is presently 37.92%.

Insider Buying and Selling

In other news, SVP Michael E. Prevoznik sold 661 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $126.14, for a total value of $83,378.54. Following the completion of the transaction, the senior vice president now owns 40,206 shares of the company’s stock, valued at $5,071,584.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Michael E. Prevoznik sold 661 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $126.14, for a total transaction of $83,378.54. Following the sale, the senior vice president now owns 40,206 shares in the company, valued at approximately $5,071,584.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Catherine T. Doherty sold 821 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $126.14, for a total value of $103,560.94. Following the completion of the transaction, the executive vice president now owns 70,800 shares of the company’s stock, valued at $8,930,712. The disclosure for this sale can be found here. Insiders sold a total of 15,150 shares of company stock worth $1,913,202 in the last ninety days. 0.79% of the stock is owned by insiders.

Analysts Set New Price Targets

DGX has been the topic of a number of recent analyst reports. SVB Leerink started coverage on Quest Diagnostics in a research report on Monday, February 26th. They set a “market perform” rating and a $135.00 price target on the stock. Barclays initiated coverage on Quest Diagnostics in a report on Wednesday, January 3rd. They set an “equal weight” rating and a $145.00 price target for the company. Truist Financial upped their price objective on shares of Quest Diagnostics from $145.00 to $150.00 and gave the company a “hold” rating in a report on Wednesday. TheStreet cut shares of Quest Diagnostics from a “b-” rating to a “c” rating in a research note on Monday, February 5th. Finally, Leerink Partnrs reiterated a “market perform” rating on shares of Quest Diagnostics in a research note on Monday, February 26th. Ten analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $146.25.

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.