ProShare Advisors LLC Boosts Position in Quest Diagnostics Incorporated (NYSE:DGX)

ProShare Advisors LLC grew its stake in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 13.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,158 shares of the medical research company's stock after purchasing an additional 1,970 shares during the period. ProShare Advisors LLC's holdings in Quest Diagnostics were worth $2,588,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sierra Ocean LLC acquired a new position in shares of Quest Diagnostics in the fourth quarter valued at approximately $33,000. FPC Investment Advisory Inc. bought a new stake in Quest Diagnostics during the 4th quarter worth approximately $45,000. Global Trust Asset Management LLC acquired a new position in Quest Diagnostics in the 4th quarter valued at approximately $49,000. SBI Securities Co. Ltd. bought a new position in shares of Quest Diagnostics during the fourth quarter valued at $54,000. Finally, Sandy Spring Bank lifted its holdings in shares of Quest Diagnostics by 142.5% during the fourth quarter. Sandy Spring Bank now owns 485 shares of the medical research company's stock worth $73,000 after purchasing an additional 285 shares during the period. 88.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on DGX shares. Citigroup lowered Quest Diagnostics from a "buy" rating to a "neutral" rating and set a $185.00 target price for the company. in a research report on Tuesday, March 4th. Wall Street Zen lowered Quest Diagnostics from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Robert W. Baird raised their price target on shares of Quest Diagnostics from $191.00 to $194.00 and gave the stock an "outperform" rating in a report on Wednesday, April 23rd. Piper Sandler boosted their price target on shares of Quest Diagnostics from $180.00 to $200.00 and gave the stock a "neutral" rating in a research report on Monday, April 28th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Quest Diagnostics from $180.00 to $190.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $185.73.

Insiders Place Their Bets

In related news, SVP Michael E. Prevoznik sold 528 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $172.61, for a total value of $91,138.08. Following the sale, the senior vice president now owns 39,031 shares in the company, valued at approximately $6,737,140.91. This trade represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO J. E. Davis sold 39,191 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $168.46, for a total value of $6,602,115.86. Following the transaction, the chief executive officer now owns 127,623 shares of the company's stock, valued at approximately $21,499,370.58. The trade was a 23.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 53,985 shares of company stock worth $9,147,802 over the last quarter. 8.16% of the stock is currently owned by company insiders.

Quest Diagnostics Stock Up 1.0%

Shares of NYSE DGX traded up $1.72 during midday trading on Monday, hitting $171.34. 1,025,574 shares of the stock traded hands, compared to its average volume of 992,088. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.02 and a current ratio of 1.10. Quest Diagnostics Incorporated has a one year low of $135.47 and a one year high of $179.99. The business has a 50 day moving average price of $170.37 and a two-hundred day moving average price of $164.31. The company has a market cap of $19.13 billion, a PE ratio of 22.28, 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 company had revenue of $2.65 billion during 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%. On average, equities analysts predict that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 21st. Shareholders of record on Monday, July 7th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Monday, July 7th. Quest Diagnostics's dividend payout ratio (DPR) is presently 40.46%.

Quest Diagnostics 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.