DAVENPORT & Co LLC Takes $264,000 Position in Quest Diagnostics Incorporated (NYSE:DGX)

DAVENPORT & Co LLC purchased a new stake in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) in the first quarter, according to its most recent filing with the SEC. The fund purchased 1,560 shares of the medical research company's stock, valued at approximately $264,000.

Other institutional investors have also made changes to their positions in the company. Janney Montgomery Scott LLC increased its holdings in shares of Quest Diagnostics by 9.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 18,010 shares of the medical research company's stock valued at $3,047,000 after acquiring an additional 1,566 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Quest Diagnostics by 10.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,577 shares of the medical research company's stock valued at $2,439,000 after acquiring an additional 1,348 shares during the last quarter. Perigon Wealth Management LLC bought a new stake in shares of Quest Diagnostics in the 1st quarter valued at approximately $221,000. Cambridge Investment Research Advisors Inc. boosted its position in Quest Diagnostics by 23.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 8,908 shares of the medical research company's stock valued at $1,507,000 after purchasing an additional 1,693 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new position in Quest Diagnostics during the 4th quarter valued at approximately $54,000. 88.06% of the stock is currently owned by institutional investors.

Quest Diagnostics Trading Down 0.7%

Shares of NYSE DGX opened at $172.69 on Wednesday. Quest Diagnostics Incorporated has a 12 month low of $136.99 and a 12 month high of $182.38. The company has a market cap of $19.28 billion, a price-to-earnings ratio of 21.83, a P/E/G ratio of 2.43 and a beta of 0.49. 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 business has a fifty day simple moving average of $176.29 and a 200-day simple moving average of $168.16.

Quest Diagnostics (NYSE:DGX - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The medical research company reported $2.21 EPS for the quarter, beating 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 business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.63 billion. Sell-side analysts predict that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Dividend Announcement

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 paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.85%. The ex-dividend date is Monday, July 7th. Quest Diagnostics's dividend payout ratio is currently 40.46%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on DGX shares. Truist Financial boosted their price objective on Quest Diagnostics from $182.00 to $190.00 and gave the company a "hold" rating in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. boosted their price objective on Quest Diagnostics from $180.00 to $190.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Robert W. Baird boosted their price objective on Quest Diagnostics from $191.00 to $194.00 and gave the company an "outperform" rating in a research report on Wednesday, April 23rd. Redburn Partners set a $195.00 price target on Quest Diagnostics in a research report on Wednesday, April 2nd. Finally, Barclays boosted their price target on Quest Diagnostics from $175.00 to $185.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 23rd. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Quest Diagnostics has a consensus rating of "Moderate Buy" and a consensus price target of $185.73.

Insider Transactions at Quest Diagnostics

In other Quest Diagnostics news, SVP Mark E. Delaney sold 874 shares of the company's stock in a transaction dated 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 $1,471,127.84. This represents a 9.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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.

Want to see what other hedge funds are holding DGX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quest Diagnostics Incorporated (NYSE:DGX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.