Quest Diagnostics Incorporated (NYSE:DGX) Stake Lifted by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. raised its stake in Quest Diagnostics Incorporated (NYSE:DGX) by 97.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 8,455 shares of the medical research company’s stock after buying an additional 4,164 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Quest Diagnostics were worth $1,275,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sequoia Financial Advisors LLC boosted its stake in Quest Diagnostics by 5.0% during the 4th quarter. Sequoia Financial Advisors LLC now owns 19,650 shares of the medical research company’s stock valued at $2,964,000 after purchasing an additional 941 shares during the period. Net Worth Advisory Group boosted its position in shares of Quest Diagnostics by 1.0% during the fourth quarter. Net Worth Advisory Group now owns 6,495 shares of the medical research company’s stock worth $980,000 after buying an additional 62 shares during the period. Independent Advisor Alliance grew its holdings in Quest Diagnostics by 7.4% in the 4th quarter. Independent Advisor Alliance now owns 4,414 shares of the medical research company’s stock worth $666,000 after buying an additional 303 shares in the last quarter. Daiwa Securities Group Inc. increased its position in Quest Diagnostics by 7.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 14,751 shares of the medical research company’s stock valued at $2,225,000 after acquiring an additional 1,059 shares during the period. Finally, Amundi raised its stake in Quest Diagnostics by 10.8% during the 4th quarter. Amundi now owns 795,485 shares of the medical research company’s stock valued at $122,528,000 after acquiring an additional 77,559 shares in the last quarter. Institutional investors and hedge funds own 88.06% of the company’s stock.

Quest Diagnostics Trading Down 0.7 %

NYSE:DGX opened at $172.22 on Wednesday. The stock has a fifty day simple moving average of $164.35 and a 200 day simple moving average of $158.41. The firm has a market capitalization of $19.11 billion, a price-to-earnings ratio of 22.40, a price-to-earnings-growth ratio of 2.16 and a beta of 0.92. Quest Diagnostics Incorporated has a 1-year low of $125.42 and a 1-year high of $178.87. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.82.

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

Quest Diagnostics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be issued a $0.80 dividend. The ex-dividend date is Monday, April 7th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.86%. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.75. Quest Diagnostics’s dividend payout ratio is presently 41.61%.

Insider Activity

In related news, EVP Catherine T. Doherty sold 5,370 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $174.13, for a total transaction of $935,078.10. Following the transaction, the executive vice president now directly owns 68,068 shares of the company’s stock, valued at approximately $11,852,680.84. The trade was a 7.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Mark E. Delaney sold 403 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $164.30, for a total transaction of $66,212.90. Following the completion of the sale, the senior vice president now owns 4,624 shares of the company’s stock, valued at approximately $759,723.20. The trade was a 8.02 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,514 shares of company stock worth $1,634,445. 0.79% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. StockNews.com lowered Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Bank of America boosted their price target on shares of Quest Diagnostics from $179.00 to $182.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Jefferies Financial Group reiterated a “buy” rating and issued a $185.00 price objective (up from $175.00) on shares of Quest Diagnostics in a report on Tuesday, December 10th. Piper Sandler reissued a “neutral” rating and set a $180.00 target price (up previously from $165.00) on shares of Quest Diagnostics in a report on Monday, February 3rd. Finally, Robert W. Baird set a $189.00 price target on Quest Diagnostics in a research note on Friday, January 31st. Eight equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Quest Diagnostics has an average rating of “Moderate Buy” and a consensus price target of $178.23.

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.