Atwater Malick LLC Has $9.59 Million Stake in Quest Diagnostics Incorporated (NYSE:DGX)

Atwater Malick LLC increased its position in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 2.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,648 shares of the medical research company's stock after purchasing an additional 1,512 shares during the quarter. Quest Diagnostics makes up approximately 3.2% of Atwater Malick LLC's holdings, making the stock its 14th biggest holding. Atwater Malick LLC owned approximately 0.05% of Quest Diagnostics worth $9,585,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Van ECK Associates Corp boosted its stake in shares of Quest Diagnostics by 980.3% in the 4th quarter. Van ECK Associates Corp now owns 24,198 shares of the medical research company's stock valued at $3,650,000 after purchasing an additional 21,958 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Quest Diagnostics in the 4th quarter valued at about $54,000. SVB Wealth LLC bought a new position in shares of Quest Diagnostics in the 4th quarter valued at about $10,345,000. MOKAN Wealth Management Inc. bought a new position in shares of Quest Diagnostics in the 4th quarter valued at about $545,000. Finally, GHP Investment Advisors Inc. boosted its stake in shares of Quest Diagnostics by 5.6% in the 4th quarter. GHP Investment Advisors Inc. now owns 38,172 shares of the medical research company's stock valued at $5,759,000 after purchasing an additional 2,015 shares during the last quarter. Institutional investors and hedge funds own 88.06% of the company's stock.

Quest Diagnostics Stock Up 0.5%

DGX traded up $0.83 during trading on Friday, reaching $174.48. The company had a trading volume of 434,247 shares, compared to its average volume of 987,151. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.10 and a quick ratio of 1.02. Quest Diagnostics Incorporated has a 12 month low of $135.47 and a 12 month high of $179.99. The business's fifty day moving average price is $171.43 and its 200 day moving average price is $165.04. The company has a market cap of $19.48 billion, a P/E ratio of 22.69, a PEG ratio of 2.16 and a beta of 0.52.

Quest Diagnostics (NYSE:DGX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The medical research company reported $2.21 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.06. Quest Diagnostics had a net margin of 8.80% and a return on equity of 15.07%. The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.63 billion. Equities analysts anticipate that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 21st. Shareholders of record on Monday, July 7th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date is Monday, July 7th. Quest Diagnostics's payout ratio is currently 40.46%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Mizuho raised their target price on shares of Quest Diagnostics from $178.00 to $189.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. Piper Sandler raised their target price on shares of Quest Diagnostics from $180.00 to $200.00 and gave the company a "neutral" rating in a research note on Monday, April 28th. Wall Street Zen raised shares of Quest Diagnostics from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. JPMorgan Chase & Co. lifted their price objective on shares of Quest Diagnostics from $180.00 to $190.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Finally, Evercore ISI lifted their price objective on shares of Quest Diagnostics from $175.00 to $180.00 and gave the stock an "in-line" rating in a research note on Wednesday, April 23rd. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Quest Diagnostics presently has an average rating of "Moderate Buy" and a consensus target price of $185.73.

Insider Buying and Selling at Quest Diagnostics

In other news, SVP Karthik Kuppusamy sold 2,555 shares of the business's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $170.00, for a total value of $434,350.00. Following the sale, the senior vice president now owns 10,575 shares of the company's stock, valued at $1,797,750. The trade was a 19.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Michael E. Prevoznik sold 4,643 shares of the business's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $170.00, for a total transaction of $789,310.00. Following the completion of the sale, the senior vice president now directly owns 38,117 shares in the company, valued at approximately $6,479,890. This represents a 10.86% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,263 shares of company stock valued at $7,979,355. 8.16% of the stock is currently owned by corporate 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.