Quantinno Capital Management LP Has $2.86 Million Stake in Quest Diagnostics Incorporated (NYSE:DGX)

Quantinno Capital Management LP increased its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 129.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 18,953 shares of the medical research company's stock after acquiring an additional 10,688 shares during the period. Quantinno Capital Management LP's holdings in Quest Diagnostics were worth $2,859,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Sierra Ocean LLC acquired a new position in shares of Quest Diagnostics during the 4th quarter valued at about $33,000. FPC Investment Advisory Inc. acquired a new position in shares of Quest Diagnostics during the 4th quarter valued at about $45,000. Global Trust Asset Management LLC acquired a new position in shares of Quest Diagnostics during the 4th quarter valued at about $49,000. SBI Securities Co. Ltd. acquired a new position in shares of Quest Diagnostics during the 4th quarter valued at about $54,000. Finally, Sandy Spring Bank increased its holdings in shares of Quest Diagnostics by 142.5% during the 4th quarter. Sandy Spring Bank now owns 485 shares of the medical research company's stock valued at $73,000 after acquiring an additional 285 shares during the last quarter. Institutional investors and hedge funds own 88.06% of the company's stock.

Quest Diagnostics Price Performance

Shares of DGX stock opened at $178.06 on Tuesday. The stock has a 50 day moving average of $170.27 and a two-hundred day moving average of $163.82. The company has a current ratio of 1.10, a quick ratio of 1.02 and a debt-to-equity ratio of 0.82. Quest Diagnostics Incorporated has a 12 month low of $135.47 and a 12 month high of $179.32. The company has a market capitalization of $19.88 billion, a P/E ratio of 23.15, a P/E/G ratio of 2.16 and a beta of 0.52.

Quest Diagnostics (NYSE:DGX - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The medical research company reported $2.21 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 the consensus estimate of $2.63 billion. Quest Diagnostics had a return on equity of 15.07% and a net margin of 8.80%. As a group, equities analysts expect that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Dividend Announcement

The business 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 dividend of $0.80 per share. The ex-dividend date is Monday, July 7th. This represents a $3.20 annualized dividend and a dividend yield of 1.80%. Quest Diagnostics's dividend payout ratio (DPR) is presently 40.46%.

Insider Buying and Selling

In related 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 transaction of $153,579.28. Following the completion of the transaction, the senior vice president now owns 8,372 shares in the company, 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 Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael E. Prevoznik sold 604 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $170.99, for a total value of $103,277.96. Following the transaction, the senior vice president now owns 39,845 shares of the company's stock, valued at $6,813,096.55. This trade represents a 1.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,124 shares of company stock worth $9,341,875 in the last 90 days. 8.16% of the stock is owned by company insiders.

Analysts Set New Price Targets

DGX has been the subject of several recent analyst reports. Truist Financial increased their target price on Quest Diagnostics from $182.00 to $190.00 and gave the company a "hold" rating in a research note on Wednesday, April 23rd. Redburn Atlantic initiated coverage on Quest Diagnostics in a research note on Wednesday, April 2nd. They set a "buy" rating and a $195.00 target price for the company. Barclays increased their target price on Quest Diagnostics from $175.00 to $185.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 23rd. Evercore ISI increased their target price on Quest Diagnostics from $175.00 to $180.00 and gave the company an "in-line" rating in a research note on Wednesday, April 23rd. Finally, UBS Group increased their target price on Quest Diagnostics from $166.00 to $170.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Quest Diagnostics presently has an average rating of "Moderate Buy" and a consensus target price of $185.73.

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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