Legacy Advisors LLC Takes Position in Quest Diagnostics Incorporated (NYSE:DGX)

Legacy Advisors LLC purchased a new position in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,015 shares of the medical research company's stock, valued at approximately $510,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC boosted its stake in shares of 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 in the last quarter. NBC Securities Inc. acquired a new position in Quest Diagnostics in the 1st quarter worth about $35,000. Continuum Advisory LLC boosted its position in Quest Diagnostics by 11,100.0% during the first quarter. Continuum Advisory LLC now owns 224 shares of the medical research company's stock worth $38,000 after purchasing an additional 222 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Quest Diagnostics during the fourth quarter worth approximately $54,000. Finally, Sandy Spring Bank grew its holdings in Quest Diagnostics by 142.5% in the fourth quarter. Sandy Spring Bank now owns 485 shares of the medical research company's stock valued at $73,000 after purchasing an additional 285 shares during the period. Institutional investors and hedge funds own 88.06% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Quest Diagnostics from $180.00 to $190.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Redburn Partners set a $195.00 price objective on shares of Quest Diagnostics in a research report on Wednesday, April 2nd. Truist Financial lifted their target price on shares of Quest Diagnostics from $182.00 to $190.00 and gave the company a "hold" rating in a research report on Wednesday, April 23rd. Evercore ISI boosted their target price on shares of Quest Diagnostics from $175.00 to $180.00 and gave the stock an "in-line" rating in a research note on Wednesday, April 23rd. Finally, Redburn Atlantic initiated coverage on shares of Quest Diagnostics in a research note on Wednesday, April 2nd. They issued a "buy" rating and a $195.00 price target on the stock. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $185.73.

Insider Activity

In related news, SVP Karthik Kuppusamy sold 2,555 shares of the business'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 sale, the senior vice president now directly owns 10,575 shares in the company, valued at approximately $1,797,750. The trade was a 19.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Mark E. Delaney sold 874 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $175.72, for a total transaction of $153,579.28. Following the completion of the transaction, the senior vice president now directly owns 8,372 shares in the company, valued at $1,471,127.84. The trade was a 9.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,620 shares of company stock valued at $7,190,045 in the last 90 days. Company insiders own 8.16% of the company's stock.

Quest Diagnostics Price Performance

NYSE:DGX opened at $179.93 on Wednesday. Quest Diagnostics Incorporated has a one year low of $135.47 and a one year high of $182.38. The stock has a market cap of $20.09 billion, a PE ratio of 22.75, a P/E/G ratio of 2.51 and a beta of 0.49. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.31 and a current ratio of 1.44. The stock has a 50 day moving average price of $174.94 and a 200 day moving average price of $166.60.

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, 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 company had revenue of $2.65 billion during the quarter, compared to analysts' expectations of $2.63 billion. Equities research analysts expect that Quest Diagnostics Incorporated will post 9.7 EPS 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. Shareholders of record on Monday, July 7th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Monday, July 7th. This represents a $3.20 annualized dividend and a yield of 1.78%. 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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