Quest Diagnostics Incorporated (NYSE:DGX) Stock Holdings Increased by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. raised its position in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 17.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 24,900 shares of the medical research company's stock after purchasing an additional 3,627 shares during the period. Jefferies Financial Group Inc.'s holdings in Quest Diagnostics were worth $3,756,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in DGX. Price T Rowe Associates Inc. MD increased its position in shares of Quest Diagnostics by 42.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,490,278 shares of the medical research company's stock valued at $828,265,000 after buying an additional 1,637,525 shares in the last quarter. Norges Bank acquired a new stake in shares of Quest Diagnostics in the fourth quarter valued at approximately $191,823,000. JPMorgan Chase & Co. grew its position in shares of Quest Diagnostics by 60.4% in the fourth quarter. JPMorgan Chase & Co. now owns 2,433,913 shares of the medical research company's stock valued at $367,180,000 after purchasing an additional 916,898 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Quest Diagnostics by 83.7% in the 4th quarter. Alliancebernstein L.P. now owns 1,093,042 shares of the medical research company's stock valued at $164,896,000 after buying an additional 497,995 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Quest Diagnostics during the 4th quarter valued at $67,447,000. Hedge funds and other institutional investors own 88.06% of the company's stock.

Quest Diagnostics Stock Up 0.8%

Shares of DGX stock traded up $1.47 during trading hours on Friday, hitting $177.88. 2,133,923 shares of the company were exchanged, compared to its average volume of 986,993. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.02 and a current ratio of 1.10. Quest Diagnostics Incorporated has a one year low of $135.47 and a one year high of $180.38. The business's 50-day simple moving average is $169.84 and its two-hundred day simple moving average is $163.39. The stock has a market capitalization of $19.86 billion, a price-to-earnings ratio of 23.13, a P/E/G ratio of 2.16 and a beta of 0.52.

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

Quest Diagnostics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, July 7th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend is Monday, July 7th. Quest Diagnostics's dividend payout ratio (DPR) is presently 40.46%.

Insider Activity

In related news, SVP Michael E. Prevoznik sold 604 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $170.99, for a total value of $103,277.96. Following the sale, the senior vice president now directly owns 39,845 shares in the company, valued at $6,813,096.55. The trade was a 1.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Mark E. Delaney sold 874 shares of the business'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 now owns 8,372 shares in the company, valued at $1,471,127.84. The trade was a 9.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 55,124 shares of company stock valued at $9,341,875. Company insiders own 8.16% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on DGX. Mizuho boosted 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. Evercore ISI upped their price objective on shares of Quest Diagnostics from $175.00 to $180.00 and gave the company an "in-line" rating in a research note on Wednesday, April 23rd. Truist Financial lifted their target price on shares of Quest Diagnostics from $182.00 to $190.00 and gave the stock a "hold" rating in a research note on Wednesday, April 23rd. Robert W. Baird increased their price target on Quest Diagnostics from $191.00 to $194.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 23rd. Finally, Redburn Atlantic assumed coverage on Quest Diagnostics in a research note on Wednesday, April 2nd. They set a "buy" rating and a $195.00 price target on the stock. Eight research 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 company's stock. Based on data from MarketBeat, the stock 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.