Lecap Asset Management Ltd. Purchases Shares of 7,145 Quest Diagnostics Incorporated (NYSE:DGX)

Lecap Asset Management Ltd. bought a new position in Quest Diagnostics Incorporated (NYSE:DGX) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 7,145 shares of the medical research company’s stock, valued at approximately $985,000.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Quest Diagnostics by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 14,014,030 shares of the medical research company’s stock worth $1,917,961,000 after purchasing an additional 636,301 shares during the last quarter. American Century Companies Inc. lifted its position in Quest Diagnostics by 12.3% during the 3rd quarter. American Century Companies Inc. now owns 3,554,517 shares of the medical research company’s stock worth $433,153,000 after buying an additional 388,162 shares in the last quarter. Victory Capital Management Inc. lifted its position in Quest Diagnostics by 5.6% during the 3rd quarter. Victory Capital Management Inc. now owns 3,414,514 shares of the medical research company’s stock worth $416,093,000 after buying an additional 180,889 shares in the last quarter. Wellington Management Group LLP lifted its position in 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 buying an additional 333,947 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Quest Diagnostics by 36.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,001,347 shares of the medical research company’s stock worth $243,884,000 after buying an additional 538,377 shares in the last quarter. Institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Stock Down 1.1 %

Shares of NYSE DGX traded down $1.49 during trading hours on Friday, hitting $128.53. The company had a trading volume of 720,163 shares, compared to its average volume of 878,920. The firm’s 50 day moving average is $128.19 and its 200-day moving average is $130.65. Quest Diagnostics Incorporated has a 1-year low of $119.59 and a 1-year high of $148.62. The stock has a market capitalization of $14.27 billion, a P/E ratio of 17.16, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The company has a quick ratio of 1.20, a current ratio of 1.31 and a debt-to-equity ratio of 0.70.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings results on Thursday, February 1st. The medical research company reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.04. Quest Diagnostics had a return on equity of 15.79% and a net margin of 9.23%. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter last year, the firm posted $1.98 EPS. The company’s quarterly revenue was down 1.9% on a year-over-year basis. On average, analysts expect that Quest Diagnostics Incorporated will post 8.75 earnings per share for the current fiscal year.

Quest Diagnostics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 22nd. Investors of record on Monday, April 8th will be given a $0.75 dividend. The ex-dividend date is Friday, April 5th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.33%. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.71. Quest Diagnostics’s dividend payout ratio (DPR) is presently 37.92%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Truist Financial restated a “hold” rating and set a $145.00 target price on shares of Quest Diagnostics in a research report on Wednesday, March 20th. Leerink Partnrs restated a “market perform” rating on shares of Quest Diagnostics in a research report on Monday, February 26th. StockNews.com upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a research report on Tuesday, April 9th. SVB Leerink began coverage on Quest Diagnostics in a research note on Monday, February 26th. They issued a “market perform” rating and a $135.00 price target for the company. Finally, Barclays began coverage on Quest Diagnostics in a research note on Wednesday, January 3rd. They issued an “equal weight” rating and a $145.00 price target for the company. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Quest Diagnostics presently has a consensus rating of “Hold” and an average target price of $144.18.

Insider Buying and Selling

In related news, SVP Michael E. Prevoznik sold 661 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $126.14, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Michael E. Prevoznik sold 661 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $126.14, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael E. Prevoznik sold 5,611 shares of Quest Diagnostics stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $125.88, for a total value of $706,312.68. Following the completion of the transaction, the senior vice president now owns 38,478 shares in the company, valued at approximately $4,843,610.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,150 shares of company stock worth $1,913,202. Company insiders own 1.70% of the company’s stock.

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.