Vega Investment Solutions Takes $1.13 Million Position in Quest Diagnostics Incorporated (NYSE:DGX)

Vega Investment Solutions acquired a new position in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,510 shares of the medical research company's stock, valued at approximately $1,133,000. Quest Diagnostics makes up approximately 0.9% of Vega Investment Solutions' investment portfolio, making the stock its 24th largest position.

Several other hedge funds have also recently bought and sold shares of DGX. Meiji Yasuda Asset Management Co Ltd. grew its holdings in Quest Diagnostics by 1.6% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,843 shares of the medical research company's stock valued at $580,000 after purchasing an additional 60 shares during the last quarter. Net Worth Advisory Group boosted its holdings in shares of Quest Diagnostics by 1.0% during the 4th quarter. Net Worth Advisory Group now owns 6,495 shares of the medical research company's stock worth $980,000 after buying an additional 62 shares during the period. Bessemer Group Inc. grew its stake in Quest Diagnostics by 0.3% in the 4th quarter. Bessemer Group Inc. now owns 20,811 shares of the medical research company's stock valued at $3,140,000 after buying an additional 65 shares during the last quarter. Mather Group LLC. raised its holdings in Quest Diagnostics by 10.4% in the 4th quarter. Mather Group LLC. now owns 764 shares of the medical research company's stock worth $115,000 after acquiring an additional 72 shares during the period. Finally, Private Trust Co. NA raised its holdings in Quest Diagnostics by 7.7% in the 4th quarter. Private Trust Co. NA now owns 1,053 shares of the medical research company's stock worth $159,000 after acquiring an additional 75 shares during the period. 88.06% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Quest Diagnostics

In other Quest Diagnostics news, CEO J. E. Davis sold 39,191 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $168.46, for a total value of $6,602,115.86. Following the completion of the sale, the chief executive officer now directly owns 127,623 shares in the company, valued at $21,499,370.58. This represents a 23.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Catherine T. Doherty sold 824 shares of the firm's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $172.61, for a total value of $142,230.64. Following the sale, the executive vice president now directly owns 69,178 shares in the company, valued at approximately $11,940,814.58. This represents a 1.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 53,985 shares of company stock valued at $9,147,802 over the last three months. 8.16% of the stock is currently owned by corporate insiders.

Quest Diagnostics Trading Down 1.1%

Shares of Quest Diagnostics stock traded down $1.85 during trading on Wednesday, reaching $171.84. 217,115 shares of the company were exchanged, compared to its average volume of 989,259. Quest Diagnostics Incorporated has a twelve month low of $135.47 and a twelve month high of $179.99. The business has a 50-day moving average price of $170.58 and a 200-day moving average price of $164.45. 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 firm has a market capitalization of $19.18 billion, a price-to-earnings ratio of 22.33, a P/E/G ratio of 2.16 and a beta of 0.52.

Quest Diagnostics (NYSE:DGX - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The medical research company reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.06. The company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.63 billion. Quest Diagnostics had a return on equity of 15.07% and a net margin of 8.80%. Sell-side analysts anticipate that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Announces Dividend

The company 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 $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.86%. The ex-dividend date is Monday, July 7th. Quest Diagnostics's payout ratio is presently 40.46%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on DGX shares. Robert W. Baird upped their price target on shares of Quest Diagnostics from $191.00 to $194.00 and gave the company an "outperform" rating in a report on Wednesday, April 23rd. Piper Sandler increased their target price on Quest Diagnostics from $180.00 to $200.00 and gave the company a "neutral" rating in a research note on Monday, April 28th. JPMorgan Chase & Co. raised their target price on Quest Diagnostics from $180.00 to $190.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Redburn Atlantic started coverage on Quest Diagnostics in a research report on Wednesday, April 2nd. They issued a "buy" rating and a $195.00 price target on the stock. Finally, Mizuho upped their price target on Quest Diagnostics from $178.00 to $189.00 and gave the stock an "outperform" rating in a report on Wednesday, April 9th. Eight equities 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. Based on data from MarketBeat, Quest Diagnostics presently has an average rating of "Moderate Buy" and an average target price of $185.73.

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.