20,049 Shares in Quest Diagnostics Incorporated (NYSE:DGX) Bought by Twinbeech Capital LP

Twinbeech Capital LP acquired a new stake in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 20,049 shares of the medical research company's stock, valued at approximately $3,025,000.

Other hedge funds also recently bought and sold shares of the company. Barclays PLC lifted its holdings in shares of Quest Diagnostics by 35.9% during the 3rd quarter. Barclays PLC now owns 298,922 shares of the medical research company's stock valued at $46,407,000 after purchasing an additional 78,980 shares during the last quarter. Park Avenue Securities LLC raised its holdings in shares of Quest Diagnostics by 22.7% in the fourth quarter. Park Avenue Securities LLC now owns 5,169 shares of the medical research company's stock worth $780,000 after buying an additional 955 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its position in shares of Quest Diagnostics by 6.9% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 1,547 shares of the medical research company's stock valued at $233,000 after acquiring an additional 100 shares during the period. Merit Financial Group LLC raised its stake in Quest Diagnostics by 39.6% in the 4th quarter. Merit Financial Group LLC now owns 2,452 shares of the medical research company's stock worth $370,000 after acquiring an additional 696 shares during the last quarter. Finally, UMB Bank n.a. lifted its position in Quest Diagnostics by 1,524.3% during the 4th quarter. UMB Bank n.a. now owns 24,023 shares of the medical research company's stock worth $3,624,000 after acquiring an additional 22,544 shares during the period. Hedge funds and other institutional investors own 88.06% of the company's stock.

Insiders Place Their Bets

In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 528 shares of Quest Diagnostics stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $172.61, for a total transaction of $91,138.08. Following the sale, the senior vice president now owns 39,031 shares of the company's stock, valued at $6,737,140.91. The trade was a 1.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO J. E. Davis sold 39,191 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $168.46, for a total transaction of $6,602,115.86. Following the completion of the transaction, the chief executive officer now owns 127,623 shares of the company's stock, 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. Insiders have sold 53,985 shares of company stock valued at $9,147,802 over the last three months. Company insiders own 8.16% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Wall Street Zen cut Quest Diagnostics from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Barclays raised their price target 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. Redburn Atlantic assumed coverage on shares of Quest Diagnostics in a report on Wednesday, April 2nd. They issued a "buy" rating and a $195.00 price objective on the stock. Piper Sandler upped their price target on shares of Quest Diagnostics from $180.00 to $200.00 and gave the company a "neutral" rating in a report on Monday, April 28th. Finally, Mizuho upped their target price on Quest Diagnostics from $178.00 to $189.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $185.73.

Quest Diagnostics Stock Up 1.0%

Shares of DGX traded up $1.72 during trading on Monday, reaching $171.34. The company's stock had a trading volume of 1,025,574 shares, compared to its average volume of 992,088. Quest Diagnostics Incorporated has a twelve month low of $135.47 and a twelve month high of $179.99. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.82. The company has a market cap of $19.13 billion, a price-to-earnings ratio of 22.28, a P/E/G ratio of 2.16 and a beta of 0.52. The company has a fifty day moving average of $170.37 and a two-hundred day moving average of $164.31.

Quest Diagnostics (NYSE:DGX - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The medical research company reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.06. Quest Diagnostics had a return on equity of 15.07% and a net margin of 8.80%. The firm had revenue of $2.65 billion for the quarter, compared to analysts' expectations of $2.63 billion. On average, sell-side analysts predict that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 21st. Investors of record on Monday, July 7th will be given a dividend of $0.80 per share. The ex-dividend date is Monday, July 7th. This represents a $3.20 dividend on an annualized basis and a yield of 1.87%. Quest Diagnostics's dividend payout ratio is currently 40.46%.

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.