6,800 Shares in Quest Diagnostics Incorporated (NYSE:DGX) Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System acquired a new stake in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,800 shares of the medical research company's stock, valued at approximately $938,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Raymond James & Associates lifted its position in shares of Quest Diagnostics by 103.3% in the fourth quarter. Raymond James & Associates now owns 148,251 shares of the medical research company's stock valued at $20,441,000 after acquiring an additional 75,315 shares in the last quarter. CHURCHILL MANAGEMENT Corp purchased a new position in Quest Diagnostics during the fourth quarter worth about $1,483,000. Wellington Management Group LLP lifted its position in Quest Diagnostics by 14.6% during the third quarter. Wellington Management Group LLP now owns 2,613,793 shares of the medical research company's stock worth $318,517,000 after buying an additional 333,947 shares during the period. Pacer Advisors Inc. lifted its position in Quest Diagnostics by 201.5% during the fourth quarter. Pacer Advisors Inc. now owns 31,912 shares of the medical research company's stock worth $4,400,000 after buying an additional 21,327 shares during the period. Finally, Pine Valley Investments Ltd Liability Co lifted its position in Quest Diagnostics by 41.9% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 16,901 shares of the medical research company's stock worth $2,060,000 after buying an additional 4,992 shares during the period. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

Quest Diagnostics Stock Down 0.9 %

NYSE DGX traded down $1.16 on Friday, reaching $134.26. The stock had a trading volume of 601,724 shares, compared to its average volume of 1,058,009. The business has a 50 day moving average price of $129.09 and a 200 day moving average price of $131.17. The company has a current ratio of 0.97, a quick ratio of 1.20 and a debt-to-equity ratio of 0.59. Quest Diagnostics Incorporated has a 1 year low of $119.59 and a 1 year high of $146.85. The company has a market capitalization of $14.91 billion, a price-to-earnings ratio of 18.07, a P/E/G ratio of 2.97 and a beta of 0.91.

Quest Diagnostics (NYSE:DGX - Get Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The medical research company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.18. The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.29 billion. Quest Diagnostics had a return on equity of 15.52% and a net margin of 9.11%. The firm's revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.04 EPS. On average, analysts forecast that Quest Diagnostics Incorporated will post 8.74 EPS for the current fiscal year.

Quest Diagnostics Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 8th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.23%. The ex-dividend date was Friday, April 5th. This is an increase from Quest Diagnostics's previous quarterly dividend of $0.71. Quest Diagnostics's dividend payout ratio is 38.22%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. TheStreet downgraded Quest Diagnostics from a "b-" rating to a "c" rating in a research report on Monday, February 5th. Citigroup upped their price target on Quest Diagnostics from $135.00 to $145.00 and gave the stock a "neutral" rating in a research note on Wednesday. Truist Financial raised their price objective on Quest Diagnostics from $145.00 to $150.00 and gave the stock a "hold" rating in a report on Wednesday. UBS Group raised their price objective on Quest Diagnostics from $139.00 to $146.00 and gave the stock a "neutral" rating in a report on Wednesday. Finally, Mizuho raised their price objective on Quest Diagnostics from $150.00 to $155.00 and gave the stock a "buy" rating in a report on Wednesday. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Quest Diagnostics currently has a consensus rating of "Hold" and an average target price of $146.17.

Insider Transactions at Quest Diagnostics

In related news, Director Vicky B. Gregg sold 2,500 shares of the business's stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $126.64, for a total transaction of $316,600.00. Following the completion of the transaction, the director now owns 16,329 shares of the company's stock, valued at approximately $2,067,904.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Vicky B. Gregg sold 2,500 shares of the business's stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $126.64, for a total transaction of $316,600.00. Following the completion of the transaction, the director now owns 16,329 shares of the company's stock, valued at approximately $2,067,904.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Catherine T. Doherty sold 821 shares of the business's stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $126.14, for a total value of $103,560.94. Following the transaction, the executive vice president now directly owns 70,800 shares of the company's stock, valued at approximately $8,930,712. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,150 shares of company stock worth $1,913,202. 0.79% of the stock is owned by corporate insiders.

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.