Parkman Healthcare Partners LLC Acquires 35,352 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

Parkman Healthcare Partners LLC increased its holdings in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 64.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 90,352 shares of the medical research company's stock after buying an additional 35,352 shares during the period. Quest Diagnostics comprises approximately 1.8% of Parkman Healthcare Partners LLC's holdings, making the stock its 17th biggest position. Parkman Healthcare Partners LLC owned 0.08% of Quest Diagnostics worth $13,631,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of DGX. BankPlus Wealth Management LLC acquired a new position in Quest Diagnostics during the 4th quarter worth $355,000. Van ECK Associates Corp lifted its stake in shares of Quest Diagnostics by 980.3% in the 4th quarter. Van ECK Associates Corp now owns 24,198 shares of the medical research company's stock worth $3,650,000 after acquiring an additional 21,958 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Quest Diagnostics in the 4th quarter worth approximately $54,000. SVB Wealth LLC acquired a new stake in shares of Quest Diagnostics in the 4th quarter worth approximately $10,345,000. Finally, AEGON ASSET MANAGEMENT UK Plc lifted its stake in shares of Quest Diagnostics by 12.0% in the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 144,773 shares of the medical research company's stock worth $21,852,000 after acquiring an additional 15,475 shares during the period. Institutional investors own 88.06% of the company's stock.

Quest Diagnostics Stock Up 0.1%

Quest Diagnostics stock traded up $0.25 during trading hours on Monday, hitting $178.22. The company had a trading volume of 231,398 shares, compared to its average volume of 982,324. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.10 and a quick ratio of 1.02. Quest Diagnostics Incorporated has a fifty-two week low of $135.47 and a fifty-two week high of $179.32. The firm's fifty day moving average is $170.04 and its 200-day moving average is $163.66. The firm has a market capitalization of $19.90 billion, a P/E ratio of 23.15, a price-to-earnings-growth ratio of 2.16 and a beta of 0.52.

Quest Diagnostics (NYSE:DGX - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The medical research company reported $2.21 earnings per share for the quarter, topping 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 company had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.63 billion. On average, research analysts forecast that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current year.

Quest Diagnostics Dividend Announcement

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 paid a dividend of $0.80 per share. The ex-dividend date is Monday, July 7th. This represents a $3.20 annualized dividend and a dividend yield of 1.80%. Quest Diagnostics's dividend payout ratio (DPR) is 40.46%.

Wall Street Analyst Weigh In

DGX has been the subject of a number of research analyst reports. Piper Sandler upped their price target on shares of Quest Diagnostics from $180.00 to $200.00 and gave the stock a "neutral" rating in a research note on Monday, April 28th. UBS Group increased their target price on shares of Quest Diagnostics from $166.00 to $170.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Redburn Partners set a $195.00 target price on shares of Quest Diagnostics in a research note on Wednesday, April 2nd. Barclays increased their target price on shares of Quest Diagnostics from $175.00 to $185.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 23rd. Finally, Redburn Atlantic assumed coverage on shares of Quest Diagnostics in a research note on Wednesday, April 2nd. They set a "buy" rating and a $195.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $185.73.

Insider Transactions at Quest Diagnostics

In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 604 shares of the firm's stock in a transaction 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. This trade represents a 1.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Catherine T. Doherty sold 535 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $169.71, for a total transaction of $90,794.85. Following the completion of the sale, the executive vice president now owns 71,356 shares in the company, valued at $12,109,826.76. This represents a 0.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,124 shares of company stock worth $9,341,875 in the last 90 days. 8.16% of the stock is owned by insiders.

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.