TD Private Client Wealth LLC Boosts Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

TD Private Client Wealth LLC lifted its position in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 667.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,479 shares of the medical research company's stock after buying an additional 2,156 shares during the quarter. TD Private Client Wealth LLC's holdings in Quest Diagnostics were worth $420,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. BankPlus Wealth Management LLC lifted its holdings in shares of Quest Diagnostics by 2.5% in the first quarter. BankPlus Wealth Management LLC now owns 2,410 shares of the medical research company's stock worth $408,000 after buying an additional 59 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of Quest Diagnostics by 1.6% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,843 shares of the medical research company's stock worth $580,000 after buying an additional 60 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of Quest Diagnostics by 0.3% in the fourth quarter. Bessemer Group Inc. now owns 20,811 shares of the medical research company's stock worth $3,140,000 after buying an additional 65 shares in the last quarter. Clarius Group LLC lifted its holdings in shares of Quest Diagnostics by 4.8% in the first quarter. Clarius Group LLC now owns 1,421 shares of the medical research company's stock worth $240,000 after buying an additional 65 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV lifted its holdings in shares of Quest Diagnostics by 1.7% in the first quarter. Azzad Asset Management Inc. ADV now owns 3,922 shares of the medical research company's stock worth $664,000 after buying an additional 66 shares in the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Quest Diagnostics

In other news, SVP Mark E. Delaney sold 874 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $175.72, for a total value of $153,579.28. Following the completion of the sale, the senior vice president directly owned 8,372 shares of the company's stock, valued at approximately $1,471,127.84. This trade represents a 9.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 8.16% of the company's stock.

Quest Diagnostics Trading Up 0.1%

DGX traded up $0.25 during trading on Monday, hitting $168.34. 1,260,780 shares of the stock traded hands, compared to its average volume of 997,620. The firm has a market capitalization of $18.79 billion, a P/E ratio of 21.28, a price-to-earnings-growth ratio of 2.35 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 firm has a 50-day moving average of $175.88 and a 200 day moving average of $168.64. Quest Diagnostics Incorporated has a 12-month low of $137.71 and a 12-month high of $182.38.

Quest Diagnostics (NYSE:DGX - Get Free Report) last announced its quarterly 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 business had revenue of $2.65 billion during the quarter, compared to analysts' expectations of $2.63 billion. Quest Diagnostics had a net margin of 8.81% and a return on equity of 15.11%. Equities research analysts anticipate that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Stockholders 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 annualized dividend and a dividend yield of 1.90%. Quest Diagnostics's dividend payout ratio is 40.46%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Piper Sandler upped their price objective on shares of Quest Diagnostics from $180.00 to $200.00 and gave the stock a "neutral" rating in a research report on Monday, April 28th. JPMorgan Chase & Co. upped their price objective on shares of Quest Diagnostics from $180.00 to $190.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Redburn Partners set a $195.00 price objective on shares of Quest Diagnostics in a research report on Wednesday, April 2nd. Truist Financial upped their price objective on shares of Quest Diagnostics from $182.00 to $190.00 and gave the stock a "hold" rating in a research report on Wednesday, April 23rd. Finally, Barclays upped their price objective on shares of Quest Diagnostics from $175.00 to $185.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 23rd. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $185.73.

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.