Meridiem Capital Partners LP Invests $1.18 Million in Quest Diagnostics Incorporated (NYSE:DGX)

Meridiem Capital Partners LP purchased a new position in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 7,822 shares of the medical research company's stock, valued at approximately $1,180,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DGX. Sierra Ocean LLC acquired a new stake in Quest Diagnostics during the fourth quarter worth about $33,000. First Financial Corp IN acquired a new position in Quest Diagnostics in the 4th quarter worth approximately $38,000. FPC Investment Advisory Inc. acquired a new stake in shares of Quest Diagnostics during the 4th quarter valued at $45,000. Global Trust Asset Management LLC bought a new position in shares of Quest Diagnostics during the 4th quarter valued at $49,000. Finally, SBI Securities Co. Ltd. bought a new position in Quest Diagnostics in the 4th quarter worth $54,000. 88.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Quest Diagnostics

In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 604 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $170.99, for a total value of $103,277.96. Following the sale, the senior vice president now owns 39,845 shares in the company, valued at $6,813,096.55. This trade represents a 1.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Karthik Kuppusamy sold 2,555 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $170.00, for a total value of $434,350.00. Following the transaction, the senior vice president now directly owns 10,575 shares in the company, valued at $1,797,750. The trade was a 19.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 54,250 shares of company stock worth $9,188,295 in the last three months. 8.16% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on DGX. Truist Financial boosted their price target on shares of Quest Diagnostics from $182.00 to $190.00 and gave the company a "hold" rating in a research report on Wednesday, April 23rd. Robert W. Baird boosted their price target on shares of Quest Diagnostics from $191.00 to $194.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 23rd. Piper Sandler upped their target price on shares of Quest Diagnostics from $180.00 to $200.00 and gave the company a "neutral" rating in a research note on Monday, April 28th. Evercore ISI upped their price target on shares of Quest Diagnostics from $175.00 to $180.00 and gave the company an "in-line" rating in a report on Wednesday, April 23rd. Finally, Redburn Partners set a $195.00 target price on shares of Quest Diagnostics in a report on Wednesday, April 2nd. Eight equities 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 stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $185.73.

Quest Diagnostics Stock Down 0.6%

Shares of Quest Diagnostics stock opened at $175.93 on Tuesday. 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 52-week low of $135.47 and a 52-week high of $179.32. The stock has a market capitalization of $19.64 billion, a price-to-earnings ratio of 22.88, a P/E/G ratio of 2.16 and a beta of 0.52. The company's 50 day moving average price is $169.78 and its 200-day moving average price is $163.11.

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

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.

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