14,689 Shares in Quest Diagnostics Incorporated (NYSE:DGX) Acquired by SteelPeak Wealth LLC

SteelPeak Wealth LLC bought a new stake in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 14,689 shares of the medical research company's stock, valued at approximately $2,485,000.

Several other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its holdings in Quest Diagnostics by 42.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,490,278 shares of the medical research company's stock worth $828,265,000 after acquiring an additional 1,637,525 shares in the last quarter. Geode Capital Management LLC increased its holdings in Quest Diagnostics by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 2,690,021 shares of the medical research company's stock worth $404,764,000 after acquiring an additional 73,368 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Quest Diagnostics by 60.4% in the 4th quarter. JPMorgan Chase & Co. now owns 2,433,913 shares of the medical research company's stock worth $367,180,000 after acquiring an additional 916,898 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its holdings in Quest Diagnostics by 1.2% in the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,268,990 shares of the medical research company's stock worth $342,300,000 after acquiring an additional 26,214 shares in the last quarter. Finally, Norges Bank purchased a new stake in Quest Diagnostics in the 4th quarter worth $191,823,000. 88.06% of the stock is owned by hedge funds and other institutional investors.

Quest Diagnostics Trading Down 1.2%

NYSE DGX traded down $1.99 during trading hours on Tuesday, reaching $166.38. The company had a trading volume of 1,177,671 shares, compared to its average volume of 998,338. The stock has a 50-day moving average of $175.69 and a 200 day moving average of $168.75. Quest Diagnostics Incorporated has a 1-year low of $137.71 and a 1-year high of $182.38. The company has a current ratio of 1.44, a quick ratio of 1.31 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $18.57 billion, a P/E ratio of 21.03, a price-to-earnings-growth ratio of 2.35 and a beta of 0.49.

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, beating analysts' consensus estimates of $2.15 by $0.06. Quest Diagnostics had a net margin of 8.81% and a return on equity of 15.11%. The company had revenue of $2.65 billion for the quarter, compared to analysts' expectations of $2.63 billion. As a group, research analysts anticipate that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal year.

Quest Diagnostics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Shareholders of record on Monday, July 7th will be given a $0.80 dividend. The ex-dividend date is Monday, July 7th. This represents a $3.20 dividend on an annualized basis and a yield of 1.92%. Quest Diagnostics's payout ratio is currently 40.46%.

Analyst Ratings Changes

DGX has been the topic of several recent research reports. Wall Street Zen cut shares of Quest Diagnostics from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. Evercore ISI lifted their target price on shares of Quest Diagnostics from $175.00 to $180.00 and gave the stock an "in-line" rating in a research note on Wednesday, April 23rd. Truist Financial lifted their target price on shares of Quest Diagnostics from $182.00 to $190.00 and gave the stock a "hold" rating in a research note on Wednesday, April 23rd. Mizuho lifted their target price on shares of Quest Diagnostics from $178.00 to $189.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Quest Diagnostics from $180.00 to $190.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $185.73.

Insider Buying and Selling

In other Quest Diagnostics 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 sale, the senior vice president directly owned 8,372 shares in the company, valued at $1,471,127.84. This represents a 9.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 8.16% of the stock is owned by 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.