Xponance Inc. Buys 795 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

Xponance Inc. grew its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 4.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 17,401 shares of the medical research company’s stock after buying an additional 795 shares during the quarter. Xponance Inc.’s holdings in Quest Diagnostics were worth $2,625,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sierra Ocean LLC acquired a new position in Quest Diagnostics during the 4th quarter worth approximately $33,000. Versant Capital Management Inc raised its position in shares of Quest Diagnostics by 340.4% during the fourth quarter. Versant Capital Management Inc now owns 251 shares of the medical research company’s stock worth $38,000 after purchasing an additional 194 shares during the period. First Financial Corp IN acquired a new position in shares of Quest Diagnostics during the fourth quarter worth approximately $38,000. FPC Investment Advisory Inc. acquired a new stake in Quest Diagnostics in the 4th quarter valued at $45,000. Finally, Global Trust Asset Management LLC bought a new stake in Quest Diagnostics during the 4th quarter valued at $49,000. Institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Price Performance

DGX opened at $166.96 on Friday. Quest Diagnostics Incorporated has a fifty-two week low of $125.42 and a fifty-two week high of $178.87. The firm has a 50-day moving average of $165.18 and a 200 day moving average of $158.60. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.02 and a current ratio of 1.10. The firm has a market cap of $18.53 billion, a P/E ratio of 21.71, a PEG ratio of 2.16 and a beta of 0.92.

Quest Diagnostics (NYSE:DGX) last released its earnings results on Thursday, January 30th. The medical research company reported $2.23 earnings per share for the quarter, beating analysts’ consensus estimates of $2.19 by $0.04. Quest Diagnostics had a net margin of 8.80% and a return on equity of 15.07%. On average, research analysts expect that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Monday, April 7th. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.75. Quest Diagnostics’s dividend payout ratio is currently 41.61%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on DGX shares. Truist Financial upped their price objective on shares of Quest Diagnostics from $172.00 to $182.00 and gave the stock a “hold” rating in a report on Friday, January 31st. Jefferies Financial Group reissued a “buy” rating and set a $185.00 price objective (up from $175.00) on shares of Quest Diagnostics in a report on Tuesday, December 10th. StockNews.com downgraded Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Barclays lifted their target price on Quest Diagnostics from $168.00 to $175.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Finally, Mizuho increased their price target on Quest Diagnostics from $177.00 to $178.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $178.38.

Insider Transactions at Quest Diagnostics

In other news, SVP Mark E. Delaney sold 403 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $164.30, for a total value of $66,212.90. Following the completion of the transaction, the senior vice president now directly owns 4,624 shares of the company’s stock, valued at $759,723.20. This trade represents a 8.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michael E. Prevoznik sold 4,643 shares of Quest Diagnostics stock in a transaction on Monday, March 17th. The shares were sold at an average price of $170.00, for a total value of $789,310.00. Following the completion of the transaction, the senior vice president now owns 38,117 shares of the company’s stock, valued at approximately $6,479,890. This trade represents a 10.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,157 shares of company stock worth $2,423,755. 0.79% of the stock is owned by company insiders.

Quest Diagnostics 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.