Sagespring Wealth Partners LLC Takes Position in Quest Diagnostics Incorporated (NYSE:DGX)

Sagespring Wealth Partners LLC bought a new position in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,601 shares of the medical research company's stock, valued at approximately $242,000.

Several other large investors have also made changes to their positions in DGX. Sierra Ocean LLC acquired a new position in Quest Diagnostics in the 4th quarter valued at approximately $33,000. First Financial Corp IN bought a new position in Quest Diagnostics in the fourth quarter worth $38,000. Versant Capital Management Inc increased its holdings in Quest Diagnostics by 340.4% in the 4th quarter. Versant Capital Management Inc now owns 251 shares of the medical research company's stock valued at $38,000 after buying an additional 194 shares during the period. FPC Investment Advisory Inc. acquired a new position in shares of Quest Diagnostics in the 4th quarter valued at $45,000. Finally, Global Trust Asset Management LLC bought a new position in shares of Quest Diagnostics during the 4th quarter worth about $49,000. Institutional investors and hedge funds own 88.06% of the company's stock.

Insider Activity at Quest Diagnostics

In related news, EVP Catherine T. Doherty sold 5,370 shares of the firm's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $174.13, for a total transaction of $935,078.10. Following the sale, the executive vice president now owns 68,068 shares of the company's stock, valued at approximately $11,852,680.84. This trade represents a 7.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO J. E. Davis sold 39,191 shares of the business's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $168.46, for a total value of $6,602,115.86. Following the completion of the transaction, the chief executive officer now directly owns 127,623 shares of the company's stock, valued at approximately $21,499,370.58. The trade was a 23.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,903 shares of company stock worth $9,460,221. 8.16% of the stock is owned by insiders.

Quest Diagnostics Trading Up 6.6 %

NYSE:DGX traded up $10.70 on Tuesday, hitting $172.56. 2,423,608 shares of the stock were exchanged, compared to its average volume of 964,732. 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 $133.11 and a 52 week high of $178.87. The stock has a market capitalization of $19.26 billion, a price-to-earnings ratio of 22.44, a P/E/G ratio of 2.16 and a beta of 0.78. The company's 50-day moving average price is $168.64 and its 200 day moving average price is $160.52.

Quest Diagnostics (NYSE:DGX - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The medical research company reported $2.23 earnings per share for the quarter, topping analysts' consensus estimates of $2.19 by $0.04. Quest Diagnostics had a net margin of 8.80% and a return on equity of 15.07%. On average, equities research analysts forecast that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current year.

Quest Diagnostics Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 7th were paid a dividend of $0.80 per share. The ex-dividend date was Monday, April 7th. This is a boost from Quest Diagnostics's previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.85%. Quest Diagnostics's payout ratio is 41.61%.

Analyst Ratings Changes

Several research firms have recently weighed in on DGX. Mizuho upped their price objective on Quest Diagnostics from $178.00 to $189.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. Truist Financial increased their price objective on Quest Diagnostics from $172.00 to $182.00 and gave the stock a "hold" rating in a research note on Friday, January 31st. Barclays boosted their target price on shares of Quest Diagnostics from $168.00 to $175.00 and gave the company an "equal weight" rating in a research note on Friday, January 31st. Leerink Partners upgraded shares of Quest Diagnostics from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $169.00 to $174.00 in a research report on Monday, January 6th. Finally, Redburn Atlantic began coverage on shares of Quest Diagnostics in a research report on Wednesday, April 2nd. They issued a "buy" rating and a $195.00 price target on the stock. Eight 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 company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $181.33.

About Quest Diagnostics

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.