Sigma Planning Corp Boosts Stock Position in Quest Diagnostics Incorporated (NYSE:DGX)

Sigma Planning Corp raised its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 2.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 5,497 shares of the medical research company’s stock after buying an additional 124 shares during the quarter. Sigma Planning Corp’s holdings in Quest Diagnostics were worth $829,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in DGX. State Street Corp increased its holdings in shares of Quest Diagnostics by 1.4% during the third quarter. State Street Corp now owns 5,263,231 shares of the medical research company’s stock valued at $817,117,000 after acquiring an additional 70,578 shares in the last quarter. Geode Capital Management LLC grew its position in Quest Diagnostics by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,616,653 shares of the medical research company’s stock valued at $404,838,000 after purchasing an additional 39,217 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Quest Diagnostics by 25.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 747,298 shares of the medical research company’s stock valued at $116,018,000 after purchasing an additional 151,365 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Quest Diagnostics by 1.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 708,100 shares of the medical research company’s stock worth $109,933,000 after buying an additional 12,565 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Quest Diagnostics by 23.8% in the fourth quarter. Principal Financial Group Inc. now owns 543,472 shares of the medical research company’s stock worth $81,994,000 after buying an additional 104,495 shares in the last quarter. 88.06% of the stock is owned by institutional investors.

Quest Diagnostics Price Performance

Shares of NYSE:DGX opened at $175.69 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $19.50 billion, a PE ratio of 22.85, a price-to-earnings-growth ratio of 2.16 and a beta of 0.91. The firm’s 50 day moving average price is $157.99 and its 200-day moving average price is $156.17. Quest Diagnostics Incorporated has a twelve month low of $123.66 and a twelve month high of $176.44.

Quest Diagnostics (NYSE:DGX) last announced its earnings results on Thursday, January 30th. The medical research company reported $2.23 EPS for the quarter, beating 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%. Equities research analysts expect that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be given a dividend of $0.80 per share. The ex-dividend date is Monday, April 7th. This is an increase from Quest Diagnostics’s previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a yield of 1.82%. Quest Diagnostics’s payout ratio is 41.61%.

Insider Buying and Selling at Quest Diagnostics

In other news, Director Vicky B. Gregg sold 1,250 shares of Quest Diagnostics stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $164.57, for a total transaction of $205,712.50. Following the transaction, the director now directly owns 16,867 shares of the company’s stock, valued at $2,775,802.19. The trade was a 6.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Mark E. Delaney sold 403 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $164.30, for a total transaction of $66,212.90. Following the completion of the sale, the senior vice president now directly owns 4,624 shares of the company’s stock, valued at $759,723.20. This represents a 8.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,792 shares of company stock valued at $465,998. Company insiders own 0.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on DGX shares. Barclays raised their price target on shares of Quest Diagnostics from $168.00 to $175.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Jefferies Financial Group reissued a “buy” rating and issued a $185.00 target price (up previously from $175.00) on shares of Quest Diagnostics in a report on Tuesday, December 10th. StockNews.com downgraded Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Mizuho lifted their price objective on Quest Diagnostics from $177.00 to $178.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Finally, Leerink Partnrs raised Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $178.23.

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.