Empowered Funds LLC Boosts Stake in Quest Diagnostics Incorporated (NYSE:DGX)

Empowered Funds LLC increased its stake in Quest Diagnostics Incorporated (NYSE:DGX) by 892.8% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,177 shares of the medical research company’s stock after acquiring an additional 19,044 shares during the period. Empowered Funds LLC’s holdings in Quest Diagnostics were worth $2,819,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in DGX. Altshuler Shaham Ltd purchased a new position in shares of Quest Diagnostics in the 4th quarter worth about $26,000. BKM Wealth Management LLC purchased a new stake in Quest Diagnostics in the fourth quarter worth approximately $29,000. Spartan Planning & Wealth Management bought a new position in Quest Diagnostics during the fourth quarter valued at approximately $31,000. Alaska Permanent Fund Corp grew its position in Quest Diagnostics by 79.3% during the fourth quarter. Alaska Permanent Fund Corp now owns 242 shares of the medical research company’s stock valued at $33,000 after acquiring an additional 107 shares during the last quarter. Finally, Riverview Trust Co purchased a new position in shares of Quest Diagnostics during the first quarter worth approximately $33,000. Institutional investors own 88.06% of the company’s stock.

Insider Buying and Selling

In other Quest Diagnostics news, SVP Karthik Kuppusamy sold 1,760 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $140.00, for a total transaction of $246,400.00. Following the completion of the transaction, the senior vice president now owns 13,435 shares of the company’s stock, valued at $1,880,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.79% of the stock is owned by insiders.

Wall Street Analyst Weigh In

DGX has been the subject of a number of research reports. Mizuho upped their price objective on shares of Quest Diagnostics from $150.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. StockNews.com raised Quest Diagnostics from a “hold” rating to a “buy” rating in a research note on Wednesday. Robert W. Baird boosted their target price on Quest Diagnostics from $145.00 to $153.00 and gave the company a “neutral” rating in a research note on Friday, July 5th. Truist Financial increased their target price on Quest Diagnostics from $145.00 to $150.00 and gave the company a “hold” rating in a report on Wednesday, April 24th. Finally, Barclays lifted their price target on Quest Diagnostics from $138.00 to $144.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 25th. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Quest Diagnostics has an average rating of “Hold” and a consensus target price of $148.69.

Quest Diagnostics Stock Up 0.4 %

Shares of Quest Diagnostics stock opened at $144.11 on Friday. The company’s fifty day simple moving average is $139.84 and its two-hundred day simple moving average is $134.04. Quest Diagnostics Incorporated has a 12-month low of $119.59 and a 12-month high of $145.62. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.59. The company has a market cap of $16.01 billion, a P/E ratio of 19.40, a PEG ratio of 3.13 and a beta of 0.89.

Quest Diagnostics (NYSE:DGX) 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 analysts’ consensus estimates 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 net margin of 9.11% and a return on equity of 15.52%. Quest Diagnostics’s revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.04 earnings per share. Research analysts anticipate that Quest Diagnostics Incorporated will post 8.79 EPS for the current year.

Quest Diagnostics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 22nd. Investors of record on Monday, July 8th will be given a dividend of $0.75 per share. The ex-dividend date is Monday, July 8th. This represents a $3.00 annualized dividend and a dividend yield of 2.08%. Quest Diagnostics’s dividend payout ratio is presently 40.38%.

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.