Wealth Enhancement Advisory Services LLC Acquires 16,958 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

Wealth Enhancement Advisory Services LLC boosted its position in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 159.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,615 shares of the medical research company's stock after acquiring an additional 16,958 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Quest Diagnostics were worth $4,166,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in DGX. Sierra Ocean LLC acquired a new position in shares of Quest Diagnostics during the 4th quarter worth $33,000. FPC Investment Advisory Inc. bought a new position in Quest Diagnostics in the fourth quarter valued at about $45,000. SBI Securities Co. Ltd. acquired a new position in Quest Diagnostics during the fourth quarter worth about $54,000. Sandy Spring Bank lifted its holdings in shares of Quest Diagnostics by 142.5% in the fourth quarter. Sandy Spring Bank now owns 485 shares of the medical research company's stock worth $73,000 after acquiring an additional 285 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its stake in shares of Quest Diagnostics by 45.3% in the 4th quarter. Global Retirement Partners LLC now owns 555 shares of the medical research company's stock valued at $84,000 after purchasing an additional 173 shares in the last quarter. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Quest Diagnostics Trading Down 0.1%

Shares of DGX stock traded down $0.17 during mid-day trading on Thursday, hitting $173.64. The company's stock had a trading volume of 602,782 shares, compared to its average volume of 987,289. The company has a market cap of $19.38 billion, a PE ratio of 22.58, 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 quick ratio of 1.02 and a current ratio of 1.10. The company's fifty day simple moving average is $171.34 and its 200-day simple moving average is $164.96. Quest Diagnostics Incorporated has a 52 week low of $135.47 and a 52 week high of $179.99.

Quest Diagnostics (NYSE:DGX - Get Free Report) last issued its quarterly 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 for the quarter, compared to analyst estimates 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 research analysts expect that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal year.

Quest Diagnostics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, July 7th will be paid a $0.80 dividend. The ex-dividend date is Monday, July 7th. This represents a $3.20 annualized dividend and a dividend yield of 1.84%. Quest Diagnostics's dividend payout ratio is presently 40.46%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on DGX shares. JPMorgan Chase & Co. increased their price objective on shares of Quest Diagnostics from $180.00 to $190.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Wall Street Zen raised Quest Diagnostics from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Evercore ISI boosted 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. Mizuho lifted their price target on Quest Diagnostics from $178.00 to $189.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. Finally, Piper Sandler boosted their price target on Quest Diagnostics from $180.00 to $200.00 and gave the stock a "neutral" rating in a report on Monday, April 28th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $185.73.

Insider Buying and Selling at Quest Diagnostics

In related news, SVP Mark E. Delaney sold 874 shares of the business'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 transaction, the senior vice president now directly owns 8,372 shares in the company, valued at approximately $1,471,127.84. The trade was a 9.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael E. Prevoznik sold 4,643 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 38,117 shares of the company's stock, valued at approximately $6,479,890. This represents a 10.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,263 shares of company stock valued at $7,979,355. Company insiders own 8.16% of the company's stock.

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.