Quest Diagnostics Incorporated (NYSE:DGX) Stock Position Increased by Summit Trail Advisors LLC

Summit Trail Advisors LLC raised its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 118.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,984 shares of the medical research company's stock after purchasing an additional 2,157 shares during the quarter. Summit Trail Advisors LLC's holdings in Quest Diagnostics were worth $674,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Bruce G. Allen Investments LLC grew its stake in 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 purchasing an additional 67 shares in the last quarter. Golden State Wealth Management LLC grew its position in shares of Quest Diagnostics by 157.3% in the 1st quarter. Golden State Wealth Management LLC now owns 193 shares of the medical research company's stock worth $33,000 after acquiring an additional 118 shares in the last quarter. NBC Securities Inc. acquired a new position in shares of Quest Diagnostics in the 1st quarter worth approximately $35,000. Continuum Advisory LLC grew its position in shares of Quest Diagnostics by 11,100.0% in the 1st quarter. Continuum Advisory LLC now owns 224 shares of the medical research company's stock worth $38,000 after acquiring an additional 222 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Quest Diagnostics in the 4th quarter worth approximately $54,000. Institutional investors and hedge funds own 88.06% of the company's stock.

Quest Diagnostics Stock Performance

NYSE:DGX traded up $2.25 during midday trading on Thursday, reaching $178.85. 436,517 shares of the company traded hands, compared to its average volume of 991,754. Quest Diagnostics Incorporated has a twelve month low of $136.99 and a twelve month high of $182.38. The firm has a market capitalization of $19.97 billion, a price-to-earnings ratio of 22.61, a price-to-earnings-growth ratio of 2.47 and a beta of 0.49. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.44 and a quick ratio of 1.31. The company has a fifty day moving average price of $176.31 and a 200 day moving average price of $167.42.

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 the consensus estimate of $2.15 by $0.06. The firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.63 billion. Quest Diagnostics had a return on equity of 15.11% and a net margin of 8.81%. On average, analysts expect that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Shareholders of record on Monday, July 7th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend is Monday, July 7th. Quest Diagnostics's payout ratio is currently 40.46%.

Analyst Ratings Changes

Several brokerages have recently commented on DGX. Mizuho lifted their target price on Quest Diagnostics from $178.00 to $189.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 9th. Wall Street Zen lowered Quest Diagnostics from a "buy" rating to a "hold" rating in a research report on Saturday, June 7th. Robert W. Baird lifted their target price on Quest Diagnostics from $191.00 to $194.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 23rd. Barclays lifted their target price on Quest Diagnostics from $175.00 to $185.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 23rd. Finally, Piper Sandler lifted their target price on Quest Diagnostics from $180.00 to $200.00 and gave the stock a "neutral" rating in a research report on Monday, April 28th. 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, the company currently has an average rating of "Moderate Buy" and an average price target of $185.73.

Insiders Place Their Bets

In other Quest Diagnostics news, SVP Mark E. Delaney sold 874 shares of Quest Diagnostics stock in a transaction on Monday, May 12th. The stock was sold at an average price of $175.72, for a total transaction of $153,579.28. Following the sale, the senior vice president owned 8,372 shares of the company's stock, valued at $1,471,127.84. The trade was a 9.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.16% of the stock is owned by insiders.

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.