Peak Retirement Planning Inc. Buys New Stake in Quest Diagnostics Incorporated (NYSE:DGX)

Peak Retirement Planning Inc. bought a new stake in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,071 shares of the medical research company's stock, valued at approximately $1,067,000. Quest Diagnostics makes up approximately 0.7% of Peak Retirement Planning Inc.'s holdings, making the stock its 29th biggest holding.

A number of other institutional investors have also made changes to their positions in DGX. Sierra Ocean LLC acquired a new stake in shares of Quest Diagnostics during the 4th quarter worth approximately $33,000. FPC Investment Advisory Inc. acquired a new position in shares of Quest Diagnostics during the fourth quarter worth about $45,000. SBI Securities Co. Ltd. bought a new position in shares of Quest Diagnostics during the 4th quarter worth approximately $54,000. Sandy Spring Bank grew its position 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 in the last quarter. Finally, Global Retirement Partners LLC boosted its stake in shares of Quest Diagnostics by 45.3% during the 4th quarter. Global Retirement Partners LLC now owns 555 shares of the medical research company's stock worth $84,000 after buying an additional 173 shares during the last quarter. 88.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

DGX has been the subject of a number of research analyst reports. Citigroup cut Quest Diagnostics from a "buy" rating to a "neutral" rating and set a $185.00 price target for the company. in a report on Tuesday, March 4th. Redburn Partners set a $195.00 price objective on Quest Diagnostics in a report on Wednesday, April 2nd. Evercore ISI increased their price objective on Quest Diagnostics from $175.00 to $180.00 and gave the stock an "in-line" rating in a research report on Wednesday, April 23rd. Redburn Atlantic began coverage on shares of Quest Diagnostics in a report on Wednesday, April 2nd. They set a "buy" rating and a $195.00 target price on the stock. Finally, Barclays increased their price objective on shares of Quest Diagnostics from $175.00 to $185.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 23rd. 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $185.73.

Quest Diagnostics Trading Up 0.3%

DGX stock traded up $0.47 on Thursday, reaching $171.85. The company's stock had a trading volume of 267,572 shares, compared to its average volume of 988,911. The business has a fifty day simple moving average of $170.67 and a two-hundred day simple moving average of $164.50. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.02 and a current ratio of 1.10. The firm has a market cap of $19.18 billion, a PE ratio of 22.34, a PEG ratio of 2.16 and a beta of 0.52. Quest Diagnostics Incorporated has a 12-month low of $135.47 and a 12-month high of $179.99.

Quest Diagnostics (NYSE:DGX - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.63 billion. Quest Diagnostics had a net margin of 8.80% and a return on equity of 15.07%. As a group, research analysts forecast that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 21st. Stockholders 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 dividend yield of 1.86%. The ex-dividend date of this dividend is Monday, July 7th. Quest Diagnostics's dividend payout ratio is presently 40.46%.

Insider Buying and Selling

In other news, CEO J. E. Davis sold 39,191 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $168.46, for a total transaction of $6,602,115.86. Following the completion of the transaction, the chief executive officer now directly owns 127,623 shares in the company, valued at approximately $21,499,370.58. This represents a 23.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mark E. Delaney sold 874 shares of the business's 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 completion of the sale, the senior vice president now owns 8,372 shares in the company, valued at approximately $1,471,127.84. This trade represents a 9.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,633 shares of company stock valued at $8,914,433. 8.16% of the stock is owned by company insiders.

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.