Quest Diagnostics Incorporated (NYSE:DGX) Shares Purchased by Alaska Permanent Fund Corp

Alaska Permanent Fund Corp boosted its stake in Quest Diagnostics Incorporated (NYSE:DGX) by 79.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 242 shares of the medical research company’s stock after purchasing an additional 107 shares during the period. Alaska Permanent Fund Corp’s holdings in Quest Diagnostics were worth $33,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC acquired a new position in shares of Quest Diagnostics in the fourth quarter worth $67,000. Socha Financial Group LLC grew its stake in shares of Quest Diagnostics by 13.4% in the fourth quarter. Socha Financial Group LLC now owns 8,985 shares of the medical research company’s stock worth $1,239,000 after acquiring an additional 1,062 shares in the last quarter. Linden Thomas Advisory Services LLC grew its stake in shares of Quest Diagnostics by 10.0% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 10,749 shares of the medical research company’s stock worth $1,482,000 after acquiring an additional 981 shares in the last quarter. Duality Advisers LP acquired a new position in shares of Quest Diagnostics in the fourth quarter worth $2,428,000. Finally, MCF Advisors LLC grew its stake in shares of Quest Diagnostics by 179.8% in the fourth quarter. MCF Advisors LLC now owns 291 shares of the medical research company’s stock worth $40,000 after acquiring an additional 187 shares in the last quarter. Institutional investors and hedge funds own 88.06% of the company’s stock.

Quest Diagnostics Price Performance

Shares of NYSE:DGX opened at $134.26 on Friday. Quest Diagnostics Incorporated has a one year low of $119.59 and a one year high of $146.85. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.20 and a current ratio of 0.97. The company has a 50-day simple moving average of $129.09 and a 200-day simple moving average of $131.17. The stock has a market capitalization of $14.91 billion, a price-to-earnings ratio of 18.07, a PEG ratio of 2.94 and a beta of 0.91.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Tuesday, April 23rd. The medical research company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.18. Quest Diagnostics had a net margin of 9.11% and a return on equity of 15.52%. The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same period in the previous year, the business posted $2.04 earnings per share. The business’s revenue was up 1.7% compared to the same quarter last year. On average, analysts predict that Quest Diagnostics Incorporated will post 8.78 EPS for the current year.

Quest Diagnostics Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 8th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.23%. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Friday, April 5th. Quest Diagnostics’s payout ratio is 38.22%.

Insider Transactions at Quest Diagnostics

In other news, SVP Michael E. Prevoznik sold 661 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $126.14, for a total transaction of $83,378.54. Following the transaction, the senior vice president now directly owns 40,206 shares in the company, valued at $5,071,584.84. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Quest Diagnostics news, Director Vicky B. Gregg sold 2,500 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $126.64, for a total transaction of $316,600.00. Following the transaction, the director now directly owns 16,329 shares in the company, valued at $2,067,904.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael E. Prevoznik sold 661 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $126.14, for a total transaction of $83,378.54. Following the transaction, the senior vice president now owns 40,206 shares in the company, valued at $5,071,584.84. The disclosure for this sale can be found here. Insiders have sold a total of 15,150 shares of company stock worth $1,913,202 over the last ninety days. 0.79% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Mizuho boosted their price target on shares of Quest Diagnostics from $150.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday. Barclays boosted their price target on shares of Quest Diagnostics from $138.00 to $144.00 and gave the company an “equal weight” rating in a research report on Thursday. TheStreet cut shares of Quest Diagnostics from a “b-” rating to a “c” rating in a research report on Monday, February 5th. StockNews.com raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, SVB Leerink started coverage on shares of Quest Diagnostics in a research report on Monday, February 26th. They issued a “market perform” rating and a $135.00 price target for the company. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $146.17.

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.