Quest Diagnostics Incorporated (NYSE:DGX) Shares Purchased by Waterway Wealth Management LLC

Waterway Wealth Management LLC raised its stake in Quest Diagnostics Incorporated (NYSE:DGX) by 16.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,617 shares of the medical research company’s stock after buying an additional 662 shares during the quarter. Waterway Wealth Management LLC’s holdings in Quest Diagnostics were worth $697,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its stake in shares of Quest Diagnostics by 48.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 8,979 shares of the medical research company’s stock valued at $1,394,000 after buying an additional 2,934 shares in the last quarter. Private Advisor Group LLC grew its position in Quest Diagnostics by 23.7% in the 3rd quarter. Private Advisor Group LLC now owns 7,537 shares of the medical research company’s stock valued at $1,170,000 after acquiring an additional 1,444 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Quest Diagnostics by 38.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,345 shares of the medical research company’s stock worth $1,601,000 after purchasing an additional 2,852 shares in the last quarter. PFG Investments LLC acquired a new stake in shares of Quest Diagnostics during the third quarter worth about $279,000. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Quest Diagnostics by 14.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 10,657 shares of the medical research company’s stock valued at $1,655,000 after purchasing an additional 1,346 shares during the period. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Insider Activity

In related news, SVP Mark E. Delaney sold 403 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $164.30, for a total value of $66,212.90. Following the transaction, the senior vice president now owns 4,624 shares in the company, valued at $759,723.20. The trade was a 8.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Vicky B. Gregg sold 1,250 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $164.57, for a total value of $205,712.50. Following the sale, the director now directly owns 16,867 shares of the company’s stock, valued at approximately $2,775,802.19. This represents a 6.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,792 shares of company stock valued at $465,998. 0.79% of the stock is currently owned by company insiders.

Quest Diagnostics Trading Down 1.1 %

NYSE DGX opened at $171.54 on Friday. The firm’s fifty day moving average price is $159.23 and its 200 day moving average price is $156.58. Quest Diagnostics Incorporated has a 12 month low of $123.66 and a 12 month high of $176.44. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.10 and a quick ratio of 1.02. The company has a market capitalization of $19.04 billion, a price-to-earnings ratio of 22.31, a price-to-earnings-growth ratio of 2.16 and a beta of 0.91.

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

Quest Diagnostics Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.20 dividend on an annualized basis and a yield of 1.87%. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.75. Quest Diagnostics’s payout ratio is currently 41.61%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on DGX shares. Leerink Partnrs upgraded shares of Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Mizuho lifted their target price on Quest Diagnostics from $177.00 to $178.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Jefferies Financial Group restated a “buy” rating and set a $185.00 price target (up previously from $175.00) on shares of Quest Diagnostics in a report on Tuesday, December 10th. Piper Sandler reiterated a “neutral” rating and issued a $180.00 price objective (up previously from $165.00) on shares of Quest Diagnostics in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. upped their target price on shares of Quest Diagnostics from $173.00 to $180.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Seven equities research 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’s stock. Based on data from MarketBeat, Quest Diagnostics presently has a consensus rating of “Moderate Buy” and a consensus target price of $178.23.

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.