HBK Sorce Advisory LLC Acquires New Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

HBK Sorce Advisory LLC bought a new stake in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,979 shares of the medical research company's stock, valued at approximately $504,000.

Several other hedge funds also recently bought and sold shares of the stock. Bruce G. Allen Investments LLC lifted its holdings in shares of Quest Diagnostics by 57.8% in 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 last quarter. Golden State Wealth Management LLC increased its holdings in Quest Diagnostics by 157.3% in the 1st quarter. Golden State Wealth Management LLC now owns 193 shares of the medical research company's stock valued at $33,000 after purchasing an additional 118 shares during the last quarter. NBC Securities Inc. purchased a new stake in Quest Diagnostics in the first quarter valued at approximately $35,000. Continuum Advisory LLC raised its position in Quest Diagnostics by 11,100.0% in the first quarter. Continuum Advisory LLC now owns 224 shares of the medical research company's stock valued at $38,000 after purchasing an additional 222 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new position in Quest Diagnostics during the fourth quarter worth $54,000. Hedge funds and other institutional investors own 88.06% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on DGX. Robert W. Baird lifted their price objective on Quest Diagnostics from $191.00 to $194.00 and gave the company an "outperform" rating in a research note on Wednesday, April 23rd. Barclays raised their target price on Quest Diagnostics from $175.00 to $185.00 and gave the company an "equal weight" rating in a report on Wednesday, April 23rd. Wall Street Zen cut Quest Diagnostics from a "buy" rating to a "hold" rating in a report on Saturday, June 7th. Truist Financial boosted their price target on shares of Quest Diagnostics from $182.00 to $190.00 and gave the stock a "hold" rating in a research note on Wednesday, April 23rd. Finally, Citigroup cut shares of Quest Diagnostics from a "buy" rating to a "neutral" rating and set a $185.00 price target on the stock. in a research report on Tuesday, March 4th. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $185.73.

Insider Activity at Quest Diagnostics

In other news, SVP Mark E. Delaney sold 874 shares of Quest Diagnostics 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 sale, the senior vice president now owns 8,372 shares in the company, valued at approximately $1,471,127.84. The trade was a 9.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Karthik Kuppusamy sold 2,555 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $170.00, for a total value of $434,350.00. Following the completion of the sale, the senior vice president now directly owns 10,575 shares of the company's stock, valued at approximately $1,797,750. This trade represents a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,620 shares of company stock valued at $7,190,045 over the last three months. 8.16% of the stock is owned by corporate insiders.

Quest Diagnostics Trading Down 0.9%

NYSE DGX opened at $177.10 on Friday. Quest Diagnostics Incorporated has a 52 week low of $135.47 and a 52 week high of $182.38. The firm has a 50 day moving average of $175.49 and a two-hundred day moving average of $166.81. 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 stock has a market capitalization of $19.77 billion, a PE ratio of 22.39, a price-to-earnings-growth ratio of 2.49 and a beta of 0.49.

Quest Diagnostics (NYSE:DGX - Get Free Report) last released its quarterly earnings data 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. 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, research analysts expect that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Investors of record on Monday, July 7th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.81%. The ex-dividend date is Monday, July 7th. Quest Diagnostics's payout ratio is 40.46%.

Quest Diagnostics Company 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.

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