Ballentine Partners LLC Acquires 2,327 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

Ballentine Partners LLC raised its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 171.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,681 shares of the medical research company's stock after acquiring an additional 2,327 shares during the period. Ballentine Partners LLC's holdings in Quest Diagnostics were worth $623,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. SteelPeak Wealth LLC bought a new stake in Quest Diagnostics during the 1st quarter valued at $2,485,000. Cerity Partners LLC raised its stake in shares of Quest Diagnostics by 9.6% in the 1st quarter. Cerity Partners LLC now owns 42,319 shares of the medical research company's stock worth $7,160,000 after buying an additional 3,724 shares in the last quarter. Alps Advisors Inc. bought a new stake in shares of Quest Diagnostics in the 1st quarter worth $350,000. Allworth Financial LP raised its stake in shares of Quest Diagnostics by 26.0% in the 1st quarter. Allworth Financial LP now owns 1,321 shares of the medical research company's stock worth $232,000 after buying an additional 273 shares in the last quarter. Finally, Aurdan Capital Management LLC bought a new stake in shares of Quest Diagnostics in the 1st quarter worth $1,285,000. Institutional investors own 88.06% of the company's stock.

Insider Buying and Selling at Quest Diagnostics

In other Quest Diagnostics news, SVP Mark E. Delaney sold 874 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the senior vice president owned 8,372 shares of the company's stock, valued at $1,471,127.84. This represents a 9.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 8.16% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on DGX shares. Redburn Atlantic started coverage on Quest Diagnostics in a research note on Wednesday, April 2nd. They issued a "buy" rating and a $195.00 price objective on the stock. Piper Sandler boosted their price objective on Quest Diagnostics from $180.00 to $200.00 and gave the stock a "neutral" rating in a research note on Monday, April 28th. Truist Financial boosted their price objective on Quest Diagnostics from $182.00 to $190.00 and gave the stock a "hold" rating in a research note on Wednesday, April 23rd. Mizuho boosted their price objective on Quest Diagnostics from $178.00 to $189.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Finally, Wall Street Zen lowered Quest Diagnostics from a "buy" rating to a "hold" rating in a research report on Saturday, June 7th. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $185.73.

Quest Diagnostics Stock Up 0.4%

Shares of DGX traded up $0.64 during trading hours on Wednesday, hitting $167.06. 1,148,441 shares of the company were exchanged, compared to its average volume of 997,783. The company has a market cap of $18.65 billion, a PE ratio of 21.12, a PEG ratio of 2.32 and a beta of 0.49. The firm's 50 day moving average is $175.30 and its 200-day moving average is $168.72. Quest Diagnostics Incorporated has a 52 week low of $137.71 and a 52 week high of $182.38. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.31 and a current ratio of 1.44.

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 the consensus estimate of $2.15 by $0.06. Quest Diagnostics had a return on equity of 15.11% and a net margin of 8.81%. The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.63 billion. On average, equities research analysts forecast that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 21st. Investors of record on Monday, July 7th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, July 7th. This represents a $3.20 annualized dividend and a dividend yield of 1.92%. Quest Diagnostics's dividend payout ratio is presently 40.46%.

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.