Jefferies Financial Group Inc. Raises Stock Position in Quest Diagnostics Incorporated (NYSE:DGX)

Jefferies Financial Group Inc. boosted its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 17.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,900 shares of the medical research company's stock after acquiring an additional 3,627 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Quest Diagnostics were worth $3,756,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its position in shares of Quest Diagnostics by 42.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,490,278 shares of the medical research company's stock valued at $828,265,000 after acquiring an additional 1,637,525 shares during the period. Norges Bank bought a new stake in shares of Quest Diagnostics in the fourth quarter worth about $191,823,000. JPMorgan Chase & Co. increased its holdings in Quest Diagnostics by 60.4% during the 4th quarter. JPMorgan Chase & Co. now owns 2,433,913 shares of the medical research company's stock valued at $367,180,000 after purchasing an additional 916,898 shares during the period. Alliancebernstein L.P. raised its position in Quest Diagnostics by 83.7% during the 4th quarter. Alliancebernstein L.P. now owns 1,093,042 shares of the medical research company's stock valued at $164,896,000 after purchasing an additional 497,995 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Quest Diagnostics during the 4th quarter valued at approximately $67,447,000. 88.06% of the stock is currently owned by institutional investors.

Quest Diagnostics Stock Up 0.6%

NYSE:DGX traded up $1.07 during mid-day trading on Friday, hitting $173.07. 1,612,659 shares of the company's stock were exchanged, compared to its average volume of 993,417. The company has a market cap of $19.32 billion, a PE ratio of 22.51, a P/E/G ratio of 2.16 and a beta of 0.52. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.10 and a quick ratio of 1.02. Quest Diagnostics Incorporated has a one year low of $135.47 and a one year high of $179.99. The business has a fifty day moving average price of $170.76 and a 200 day moving average price of $164.58.

Quest Diagnostics (NYSE:DGX - Get Free Report) last released 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. The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.63 billion. Quest Diagnostics had a net margin of 8.80% and a return on equity of 15.07%. Equities analysts predict that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Announces Dividend

The company also recently disclosed 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. This represents a $3.20 annualized dividend and a yield of 1.85%. The ex-dividend date is Monday, July 7th. Quest Diagnostics's dividend payout ratio (DPR) is 40.46%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on DGX shares. Robert W. Baird lifted their price objective on Quest Diagnostics from $191.00 to $194.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 23rd. Citigroup lowered Quest Diagnostics from a "buy" rating to a "neutral" rating and set a $185.00 price target for the company. in a research note on Tuesday, March 4th. Mizuho lifted their price target on shares of Quest Diagnostics from $178.00 to $189.00 and gave the company an "outperform" rating in a report on Wednesday, April 9th. Redburn Partners set a $195.00 price objective on shares of Quest Diagnostics in a research report on Wednesday, April 2nd. Finally, UBS Group raised their target price on shares of Quest Diagnostics from $166.00 to $170.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $185.73.

Insider Buying and Selling at Quest Diagnostics

In other Quest Diagnostics news, CEO J. E. Davis sold 39,191 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 127,623 shares in the company, valued at approximately $21,499,370.58. This trade represents a 23.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Michael E. Prevoznik sold 4,643 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $170.00, for a total value of $789,310.00. Following the transaction, the senior vice president now directly owns 38,117 shares in the company, valued at approximately $6,479,890. The trade was a 10.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,633 shares of company stock worth $8,914,433. 8.16% of the stock is owned by corporate 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.