TD Private Client Wealth LLC Raises Stock Position in Quest Diagnostics Incorporated (NYSE:DGX)

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

A number of other institutional investors and hedge funds also recently bought and sold shares of DGX. Bruce G. Allen Investments LLC increased its stake in Quest Diagnostics by 57.8% during the first quarter. Bruce G. Allen Investments LLC now owns 183 shares of the medical research company's stock worth $31,000 after purchasing an additional 67 shares during the period. First Horizon Advisors Inc. increased its stake in Quest Diagnostics by 76.6% during the first quarter. First Horizon Advisors Inc. now owns 189 shares of the medical research company's stock worth $32,000 after purchasing an additional 82 shares during the period. Golden State Wealth Management LLC increased its stake in Quest Diagnostics by 157.3% during the first quarter. Golden State Wealth Management LLC now owns 193 shares of the medical research company's stock worth $33,000 after purchasing an additional 118 shares during the period. NBC Securities Inc. purchased a new stake in Quest Diagnostics during the first quarter worth about $35,000. Finally, Continuum Advisory LLC increased its stake in Quest Diagnostics by 11,100.0% during the first quarter. Continuum Advisory LLC now owns 224 shares of the medical research company's stock worth $38,000 after purchasing an additional 222 shares during the period. 88.06% of the stock is currently 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 company's stock in a transaction that occurred 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 completion of the sale, the senior vice president 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 8.16% of the stock is owned by company insiders.

Quest Diagnostics Price Performance

Shares of NYSE DGX opened at $171.49 on Friday. The company has a current ratio of 1.44, a quick ratio of 1.31 and a debt-to-equity ratio of 0.84. Quest Diagnostics Incorporated has a twelve month low of $137.71 and a twelve month high of $182.38. The stock has a 50 day moving average of $176.08 and a two-hundred day moving average of $168.33. The stock has a market cap of $19.15 billion, a P/E ratio of 21.68, a P/E/G ratio of 2.42 and a beta of 0.49.

Quest Diagnostics (NYSE:DGX - Get Free Report) last issued its quarterly earnings data 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. Quest Diagnostics had a return on equity of 15.11% and a net margin of 8.81%. The company had revenue of $2.65 billion during the quarter, compared to analysts' expectations of $2.63 billion. On average, research analysts forecast that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current year.

Quest Diagnostics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 21st. Stockholders 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 dividend yield of 1.87%. The ex-dividend date of this dividend is Monday, July 7th. Quest Diagnostics's dividend payout ratio (DPR) is presently 40.46%.

Analysts Set New Price Targets

A number of brokerages have recently commented on DGX. Wall Street Zen downgraded Quest Diagnostics from a "buy" rating to a "hold" rating in a research report on Saturday, June 7th. Mizuho boosted their price objective on Quest Diagnostics from $178.00 to $189.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 9th. Truist Financial boosted their price objective on Quest Diagnostics from $182.00 to $190.00 and gave the stock a "hold" rating in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. boosted their price objective on Quest Diagnostics from $180.00 to $190.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Finally, Redburn Atlantic started coverage on Quest Diagnostics in a research report on Wednesday, April 2nd. They set a "buy" rating and a $195.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $185.73.

About Quest Diagnostics

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.