Chevy Chase Trust Holdings LLC Acquires 10,342 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

Chevy Chase Trust Holdings LLC grew its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 10.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 112,130 shares of the medical research company's stock after buying an additional 10,342 shares during the period. Chevy Chase Trust Holdings LLC owned 0.10% of Quest Diagnostics worth $18,972,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Janney Montgomery Scott LLC raised its holdings in shares of Quest Diagnostics by 9.5% during the first quarter. Janney Montgomery Scott LLC now owns 18,010 shares of the medical research company's stock valued at $3,047,000 after buying an additional 1,566 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in Quest Diagnostics during the fourth quarter worth approximately $54,000. SVB Wealth LLC bought a new stake in Quest Diagnostics during the fourth quarter worth approximately $10,345,000. Wealth Enhancement Advisory Services LLC raised its holdings in Quest Diagnostics by 11.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 30,825 shares of the medical research company's stock worth $5,215,000 after purchasing an additional 3,210 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in Quest Diagnostics by 2.2% during the first quarter. State of Alaska Department of Revenue now owns 13,006 shares of the medical research company's stock worth $2,200,000 after purchasing an additional 280 shares in the last quarter. Institutional investors own 88.06% of the company's stock.

Insiders Place Their Bets

In related news, CEO J. E. Davis sold 39,191 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $168.46, for a total transaction of $6,602,115.86. Following the completion of the sale, the chief executive officer now directly owns 127,623 shares in the company, valued at $21,499,370.58. This represents a 23.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Mark E. Delaney sold 874 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $175.72, for a total transaction of $153,579.28. Following the completion of the sale, the senior vice president now directly owns 8,372 shares of the company's stock, valued at approximately $1,471,127.84. This represents a 9.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 42,620 shares of company stock valued at $7,190,045. Company insiders own 8.16% of the company's stock.

Quest Diagnostics Trading Up 0.4%

NYSE DGX traded up $0.67 on Friday, hitting $177.73. The company's stock had a trading volume of 1,205,898 shares, compared to its average volume of 995,467. Quest Diagnostics Incorporated has a 1-year low of $135.47 and a 1-year high of $182.38. The company has a quick ratio of 1.31, a current ratio of 1.44 and a debt-to-equity ratio of 0.84. The company's 50-day moving average is $175.49 and its 200 day moving average is $166.81. The firm has a market cap of $19.84 billion, a PE ratio of 22.47, a PEG ratio of 2.47 and a beta of 0.49.

Quest Diagnostics (NYSE:DGX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The medical research company reported $2.21 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.06. The business had revenue of $2.65 billion during the quarter, compared to analysts' expectations of $2.63 billion. Quest Diagnostics had a net margin of 8.81% and a return on equity of 15.11%. As a group, 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 disclosed a quarterly dividend, which will be paid on Monday, July 21st. Shareholders of record on Monday, July 7th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.80%. The ex-dividend date is Monday, July 7th. Quest Diagnostics's dividend payout ratio is 40.46%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on DGX shares. Evercore ISI upped their price target on Quest Diagnostics from $175.00 to $180.00 and gave the company an "in-line" rating in a report on Wednesday, April 23rd. Citigroup cut shares of Quest Diagnostics from a "buy" rating to a "neutral" rating and set a $185.00 price objective on the stock. in a research report on Tuesday, March 4th. Robert W. Baird boosted their price target on shares of Quest Diagnostics from $191.00 to $194.00 and gave the company an "outperform" rating in a report on Wednesday, April 23rd. Wall Street Zen cut shares of Quest Diagnostics from a "buy" rating to a "hold" rating in a report on Saturday, June 7th. Finally, Truist Financial upped their price objective on shares of Quest Diagnostics from $182.00 to $190.00 and gave the stock a "hold" rating in a report on Wednesday, April 23rd. 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $185.73.

About Quest Diagnostics

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.