Ascent Wealth Partners LLC Raises Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

Ascent Wealth Partners LLC raised its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 49.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,011 shares of the medical research company's stock after buying an additional 1,990 shares during the quarter. Ascent Wealth Partners LLC's holdings in Quest Diagnostics were worth $1,017,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DGX. Brighton Jones LLC purchased a new position in shares of Quest Diagnostics in the 4th quarter worth about $323,000. Avantax Advisory Services Inc. boosted its holdings in shares of Quest Diagnostics by 97.0% in the 4th quarter. Avantax Advisory Services Inc. now owns 8,455 shares of the medical research company's stock worth $1,275,000 after purchasing an additional 4,164 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of Quest Diagnostics by 17.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 28,368 shares of the medical research company's stock valued at $4,280,000 after acquiring an additional 4,298 shares during the last quarter. Madison Investment Advisors LLC bought a new stake in shares of Quest Diagnostics in the 4th quarter valued at about $1,179,000. Finally, Natixis Advisors LLC lifted its stake in shares of Quest Diagnostics by 12.0% in the 4th quarter. Natixis Advisors LLC now owns 103,975 shares of the medical research company's stock valued at $15,686,000 after acquiring an additional 11,145 shares during the last quarter. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

Quest Diagnostics Stock Down 0.8%

DGX traded down $1.39 during trading on Friday, hitting $166.79. 1,557,274 shares of the company's stock traded hands, compared to its average volume of 1,003,305. The company's 50 day simple moving average is $174.95 and its two-hundred day simple moving average is $168.95. The company has a current ratio of 1.44, a quick ratio of 1.31 and a debt-to-equity ratio of 0.84. Quest Diagnostics Incorporated has a 12-month low of $137.71 and a 12-month high of $182.38. The stock has a market capitalization of $18.62 billion, a price-to-earnings ratio of 21.09, a PEG ratio of 2.35 and a beta of 0.49.

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, topping analysts' consensus estimates of $2.15 by $0.06. The firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.63 billion. Quest Diagnostics had a return on equity of 15.11% and a net margin of 8.81%. Analysts predict that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal year.

Quest Diagnostics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Investors of record on Monday, July 7th will be issued a $0.80 dividend. The ex-dividend date is Monday, July 7th. This represents a $3.20 dividend on an annualized basis and a yield of 1.92%. Quest Diagnostics's dividend payout ratio is currently 40.46%.

Analyst Ratings Changes

A number of research analysts have commented on the company. UBS Group lowered their price target on Quest Diagnostics from $176.00 to $175.00 and set a "neutral" rating for the company in a research report on Friday. Redburn Partners set a $195.00 price target on Quest Diagnostics in a research report on Wednesday, April 2nd. Mizuho upped their price target on Quest Diagnostics from $178.00 to $189.00 and gave the company an "outperform" rating in a research report on Wednesday, April 9th. Piper Sandler upped their price target on Quest Diagnostics from $180.00 to $200.00 and gave the company a "neutral" rating in a research report on Monday, April 28th. Finally, Redburn Atlantic assumed coverage on Quest Diagnostics in a research report on Wednesday, April 2nd. They set a "buy" rating and a $195.00 price target for the company. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $186.07.

Insider Buying and Selling

In related news, SVP Mark E. Delaney sold 874 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $175.72, for a total value of $153,579.28. Following the transaction, the senior vice president directly owned 8,372 shares of the company's stock, valued at approximately $1,471,127.84. This trade represents a 9.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 8.16% of the company's stock.

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.