TD Waterhouse Canada Inc. Has $6.98 Million Stake in Quest Diagnostics Incorporated $DGX

TD Waterhouse Canada Inc. boosted its stake in Quest Diagnostics Incorporated (NYSE:DGX) by 9.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,340 shares of the medical research company’s stock after acquiring an additional 3,156 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Quest Diagnostics were worth $6,984,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. MTM Investment Management LLC acquired a new position in shares of Quest Diagnostics during the second quarter worth about $29,000. True Wealth Design LLC boosted its position in Quest Diagnostics by 369.7% during the 3rd quarter. True Wealth Design LLC now owns 155 shares of the medical research company’s stock worth $30,000 after acquiring an additional 122 shares during the last quarter. AlphaQuest LLC boosted its position in Quest Diagnostics by 18,400.0% during the 2nd quarter. AlphaQuest LLC now owns 185 shares of the medical research company’s stock worth $33,000 after acquiring an additional 184 shares during the last quarter. First Horizon Corp bought a new position in shares of Quest Diagnostics during the 3rd quarter worth approximately $33,000. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of Quest Diagnostics in the second quarter valued at approximately $35,000. Institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Stock Up 2.5%

DGX opened at $186.90 on Friday. The stock’s fifty day simple moving average is $181.36 and its 200 day simple moving average is $180.53. Quest Diagnostics Incorporated has a 1-year low of $157.20 and a 1-year high of $197.55. The stock has a market cap of $20.79 billion, a PE ratio of 21.94, a price-to-earnings-growth ratio of 2.31 and a beta of 0.64. The company has a current ratio of 1.13, a quick ratio of 1.04 and a debt-to-equity ratio of 0.71.

Quest Diagnostics Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 28th. Stockholders of record on Tuesday, January 13th were paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Tuesday, January 13th. Quest Diagnostics’s dividend payout ratio (DPR) is currently 37.56%.

Insider Buying and Selling

In other news, SVP Mark E. Delaney sold 7,946 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $187.35, for a total transaction of $1,488,683.10. Following the completion of the sale, the senior vice president owned 7,530 shares in the company, valued at $1,410,745.50. The trade was a 51.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO J. E. Davis sold 55,093 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $192.22, for a total value of $10,589,976.46. Following the completion of the transaction, the chief executive officer directly owned 120,480 shares in the company, valued at $23,158,665.60. The trade was a 31.38% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 64,289 shares of company stock valued at $12,318,360. Company insiders own 8.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Quest Diagnostics in a report on Monday, December 29th. Morgan Stanley set a $207.00 price objective on Quest Diagnostics and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Piper Sandler lifted their target price on Quest Diagnostics from $190.00 to $200.00 and gave the company a “neutral” rating in a research report on Monday, October 27th. Mizuho increased their price target on Quest Diagnostics from $190.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Finally, Truist Financial boosted their price target on Quest Diagnostics from $195.00 to $205.00 and gave the stock a “hold” rating in a research report on Wednesday, October 22nd. Eight equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, Quest Diagnostics presently has an average rating of “Moderate Buy” and a consensus price target of $198.27.

Quest Diagnostics Profile

Quest Diagnostics (NYSE: DGX) is a leading provider of diagnostic information services that supports clinical decision-making for patients, physicians and healthcare organizations. The company operates a network of clinical laboratories and patient service centers that perform a broad range of laboratory tests and diagnostic assays used in routine care, disease diagnosis, monitoring and screening.

Its services span core clinical laboratory testing, anatomic pathology, molecular and genomic diagnostics, infectious disease testing and toxicology.