13,837 Shares in Quest Diagnostics Incorporated (NYSE:DGX) Bought by SG Americas Securities LLC

SG Americas Securities LLC acquired a new stake in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 13,837 shares of the medical research company's stock, valued at approximately $2,341,000.

Several other large investors have also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC lifted its position in shares of Quest Diagnostics by 57.8% during the 1st quarter. Bruce G. Allen Investments LLC now owns 183 shares of the medical research company's stock valued at $31,000 after acquiring an additional 67 shares during the period. Sierra Ocean LLC acquired a new position in shares of Quest Diagnostics during the fourth quarter worth $33,000. NBC Securities Inc. bought a new position in shares of Quest Diagnostics in the 1st quarter valued at $35,000. FPC Investment Advisory Inc. acquired a new stake in shares of Quest Diagnostics during the 4th quarter valued at $45,000. Finally, SBI Securities Co. Ltd. bought a new stake in Quest Diagnostics during the 4th quarter worth $54,000. Institutional investors own 88.06% of the company's stock.

Quest Diagnostics Price Performance

Quest Diagnostics stock traded up $1.35 during midday trading on Monday, reaching $181.56. 75,080 shares of the stock were exchanged, compared to its average volume of 987,119. The firm has a market cap of $20.27 billion, a PE ratio of 23.64, a PEG ratio of 2.16 and a beta of 0.49. Quest Diagnostics Incorporated has a 52 week low of $135.47 and a 52 week high of $182.07. The company's fifty day moving average is $172.77 and its 200-day moving average is $165.69. 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 (NYSE:DGX - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The medical research company reported $2.21 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.06. The business 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%. On average, sell-side 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. Shareholders of record on Monday, July 7th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend is Monday, July 7th. Quest Diagnostics's payout ratio is currently 40.46%.

Insider Activity at Quest Diagnostics

In other news, SVP Mark E. Delaney sold 874 shares of the company'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 completion of the transaction, the senior vice president now directly owns 8,372 shares of the company's stock, valued at approximately $1,471,127.84. This represents a 9.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO J. E. Davis sold 39,191 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The shares were 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 directly owns 127,623 shares in the company, valued at $21,499,370.58. This trade represents a 23.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,620 shares of company stock valued at $7,190,045. Insiders own 8.16% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on DGX shares. Evercore ISI upped their price objective 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. Robert W. Baird increased their price objective on Quest Diagnostics from $191.00 to $194.00 and gave the company an "outperform" rating in a report on Wednesday, April 23rd. Truist Financial raised 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. Wall Street Zen lowered Quest Diagnostics from a "buy" rating to a "hold" rating in a research report on Saturday, June 7th. Finally, Citigroup downgraded 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. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Quest Diagnostics has a consensus rating of "Moderate Buy" and a consensus price target of $185.73.

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.