Kingsview Wealth Management LLC Invests $2.91 Million in Quest Diagnostics Incorporated (NYSE:DGX)

Kingsview Wealth Management LLC acquired a new position in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 17,184 shares of the medical research company's stock, valued at approximately $2,908,000.

Other hedge funds have also added to or reduced their stakes in the company. First Horizon Advisors Inc. grew its position in shares of Quest Diagnostics by 76.6% during the 1st quarter. First Horizon Advisors Inc. now owns 189 shares of the medical research company's stock valued at $32,000 after purchasing an additional 82 shares in the last quarter. Janney Montgomery Scott LLC grew its stake 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. Brown Advisory Inc. increased its holdings in shares of Quest Diagnostics by 2.2% in the first quarter. Brown Advisory Inc. now owns 7,081 shares of the medical research company's stock worth $1,198,000 after buying an additional 150 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Quest Diagnostics by 10.2% in the first 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 purchasing an additional 1,348 shares during the last quarter. Finally, Perigon Wealth Management LLC purchased a new stake in Quest Diagnostics during the 1st quarter valued at $221,000. Institutional investors own 88.06% of the company's stock.

Insiders Place Their Bets

In other news, SVP Mark E. Delaney sold 874 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $175.72, for a total value of $153,579.28. Following the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.16% of the company's stock.

Quest Diagnostics Trading Down 0.8%

DGX stock traded down $1.39 during mid-day trading on Friday, reaching $166.79. The company had a trading volume of 1,557,274 shares, compared to its average volume of 1,003,691. The company has a market capitalization of $18.62 billion, a PE ratio of 21.09, a price-to-earnings-growth ratio of 2.33 and a beta of 0.49. The firm has a 50 day moving average of $174.95 and a 200 day moving average of $168.95. Quest Diagnostics Incorporated has a 12 month low of $137.71 and a 12 month high of $182.38. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.44 and a quick ratio of 1.31.

Quest Diagnostics (NYSE:DGX - Get Free Report) last issued its 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 net margin of 8.81% and a return on equity of 15.11%. The company had revenue of $2.65 billion for the quarter, compared to analysts' expectations of $2.63 billion. On average, equities analysts predict that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal year.

Quest Diagnostics Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on DGX shares. Piper Sandler upped their price objective on shares of Quest Diagnostics from $180.00 to $200.00 and gave the stock a "neutral" rating in a report on Monday, April 28th. JPMorgan Chase & Co. lifted their price objective on Quest Diagnostics from $180.00 to $190.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Redburn Partners set a $195.00 target price on Quest Diagnostics in a report on Wednesday, April 2nd. UBS Group reduced their price target on Quest Diagnostics from $176.00 to $175.00 and set a "neutral" rating for the company in a report on Friday. Finally, Robert W. Baird upped their price target on shares of Quest Diagnostics from $191.00 to $194.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 23rd. 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 has an average rating of "Moderate Buy" and an average target price of $186.07.

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.