HB Wealth Management LLC Has $1.89 Million Stake in Quest Diagnostics Incorporated (NYSE:DGX)

Key Points

• HB Wealth Management LLC increased its stake in Quest Diagnostics by 34.7%, now owning 11,147 shares valued at approximately $1.89 million.
• Quest Diagnostics recently reported an EPS of $2.62 for the last quarter, exceeding analyst expectations and marking a 15.2% revenue increase over the same period last year.
• Analysts have a consensus rating of "Moderate Buy" for Quest Diagnostics, with an average target price of $186.00.

HB Wealth Management LLC boosted its position in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 34.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,147 shares of the medical research company's stock after purchasing an additional 2,869 shares during the period. HB Wealth Management LLC's holdings in Quest Diagnostics were worth $1,886,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of DGX. Bruce G. Allen Investments LLC boosted its position in Quest Diagnostics by 57.8% during the 1st quarter. Bruce G. Allen Investments LLC now owns 183 shares of the medical research company's stock worth $31,000 after acquiring an additional 67 shares during the period. First Horizon Advisors Inc. boosted its holdings in shares of Quest Diagnostics by 76.6% during the first quarter. First Horizon Advisors Inc. now owns 189 shares of the medical research company's stock worth $32,000 after purchasing an additional 82 shares during the period. Golden State Wealth Management LLC boosted its holdings in shares of Quest Diagnostics by 157.3% during the first quarter. Golden State Wealth Management LLC now owns 193 shares of the medical research company's stock worth $33,000 after purchasing an additional 118 shares during the period. NBC Securities Inc. purchased a new position in Quest Diagnostics during the first quarter valued at approximately $35,000. Finally, Continuum Advisory LLC increased its stake in Quest Diagnostics by 11,100.0% in the 1st quarter. Continuum Advisory LLC now owns 224 shares of the medical research company's stock valued at $38,000 after buying an additional 222 shares during the period. 88.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Quest Diagnostics

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Wall Street Zen lowered shares of Quest Diagnostics from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. Deutsche Bank Aktiengesellschaft increased their price objective on Quest Diagnostics from $160.00 to $178.00 and gave the stock a "hold" rating in a report on Wednesday, July 23rd. JPMorgan Chase & Co. boosted their target price on Quest Diagnostics from $180.00 to $190.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Piper Sandler upped their target price on Quest Diagnostics from $180.00 to $200.00 and gave the stock a "neutral" rating in a research report on Monday, April 28th. Finally, Robert W. Baird lifted their price target on Quest Diagnostics from $191.00 to $194.00 and gave the company an "outperform" rating in a report on Wednesday, April 23rd. Nine equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $186.00.

Quest Diagnostics Stock Performance

Shares of NYSE:DGX traded up $3.07 during trading on Friday, reaching $170.48. The stock had a trading volume of 536,520 shares, compared to its average volume of 1,193,830. The stock has a fifty day simple moving average of $174.02 and a two-hundred day simple moving average of $170.01. The company has a quick ratio of 0.99, a current ratio of 1.09 and a debt-to-equity ratio of 0.71. Quest Diagnostics Incorporated has a 52 week low of $144.87 and a 52 week high of $182.38. The firm has a market capitalization of $19.06 billion, a price-to-earnings ratio of 20.42, a P/E/G ratio of 2.24 and a beta of 0.49.

Quest Diagnostics (NYSE:DGX - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The medical research company reported $2.62 EPS for the quarter, topping the consensus estimate of $2.57 by $0.05. The firm had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.73 billion. Quest Diagnostics had a net margin of 9.01% and a return on equity of 15.24%. The business's quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.35 EPS. As a group, analysts anticipate that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal year.

Quest Diagnostics Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, July 7th were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Monday, July 7th. Quest Diagnostics's payout ratio is currently 38.32%.

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.