Appleton Partners Inc. MA Takes $1.36 Million Position in Quest Diagnostics Incorporated (NYSE:DGX)

Appleton Partners Inc. MA bought a new position in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,054 shares of the medical research company's stock, valued at approximately $1,363,000.

Other large investors have also made changes to their positions in the company. Meiji Yasuda Asset Management Co Ltd. grew its position in Quest Diagnostics by 1.6% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,843 shares of the medical research company's stock valued at $580,000 after buying an additional 60 shares during the period. Net Worth Advisory Group grew its position in shares of Quest Diagnostics by 1.0% during the 4th quarter. Net Worth Advisory Group now owns 6,495 shares of the medical research company's stock valued at $980,000 after acquiring an additional 62 shares during the period. Bessemer Group Inc. increased its stake in shares of Quest Diagnostics by 0.3% in the 4th quarter. Bessemer Group Inc. now owns 20,811 shares of the medical research company's stock worth $3,140,000 after purchasing an additional 65 shares in the last quarter. Clarius Group LLC raised its holdings in Quest Diagnostics by 4.8% in the 1st quarter. Clarius Group LLC now owns 1,421 shares of the medical research company's stock worth $240,000 after purchasing an additional 65 shares during the period. Finally, Azzad Asset Management Inc. ADV lifted its position in Quest Diagnostics by 1.7% during the first quarter. Azzad Asset Management Inc. ADV now owns 3,922 shares of the medical research company's stock valued at $664,000 after purchasing an additional 66 shares in the last quarter. 88.06% of the stock is currently owned by institutional investors.

Quest Diagnostics Price Performance

Shares of DGX traded up $0.31 during mid-day trading on Monday, hitting $179.74. 1,201,925 shares of the stock were exchanged, compared to its average volume of 992,562. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.31 and a current ratio of 1.44. The company has a market cap of $20.07 billion, a PE ratio of 22.72, a price-to-earnings-growth ratio of 2.50 and a beta of 0.49. Quest Diagnostics Incorporated has a 52-week low of $135.47 and a 52-week high of $182.38. The firm has a 50-day moving average of $174.45 and a two-hundred day moving average of $166.35.

Quest Diagnostics (NYSE:DGX - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The medical research company reported $2.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.06. Quest Diagnostics had a net margin of 8.81% and a return on equity of 15.11%. The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.63 billion. On average, equities analysts predict that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current year.

Quest Diagnostics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 21st. Shareholders of record on Monday, July 7th will be paid a dividend of $0.80 per share. The ex-dividend date is Monday, July 7th. This represents a $3.20 annualized dividend and a yield of 1.78%. Quest Diagnostics's payout ratio is currently 40.46%.

Insider Activity

In other news, CEO J. E. Davis sold 39,191 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $168.46, for a total value of $6,602,115.86. Following the sale, the chief executive officer now owns 127,623 shares of the company's stock, valued at approximately $21,499,370.58. This represents a 23.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Karthik Kuppusamy sold 2,555 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $170.00, for a total transaction of $434,350.00. Following the transaction, the senior vice president now owns 10,575 shares in the company, valued at $1,797,750. The trade was a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,620 shares of company stock valued at $7,190,045 in the last ninety days. Insiders own 8.16% of the company's stock.

Analyst Upgrades and Downgrades

DGX has been the topic of several recent research reports. Citigroup downgraded Quest Diagnostics from a "buy" rating to a "neutral" rating and set a $185.00 price objective on the stock. in a research note on Tuesday, March 4th. Redburn Atlantic initiated coverage on shares of Quest Diagnostics in a research note on Wednesday, April 2nd. They set a "buy" rating and a $195.00 target price on the stock. Mizuho increased their price objective on shares of Quest Diagnostics from $178.00 to $189.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Redburn Partners set a $195.00 price objective on shares of Quest Diagnostics in a research report on Wednesday, April 2nd. Finally, Evercore ISI upped their target price on shares of Quest Diagnostics from $175.00 to $180.00 and gave the stock an "in-line" rating in a report on Wednesday, April 23rd. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $185.73.

Quest Diagnostics Company 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.