Parallel Advisors LLC Purchases 158 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

Parallel Advisors LLC raised its position in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 4.7% in the fourth quarter, HoldingsChannel reports. The fund owned 3,510 shares of the medical research company’s stock after acquiring an additional 158 shares during the period. Parallel Advisors LLC’s holdings in Quest Diagnostics were worth $530,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. Sierra Ocean LLC acquired a new stake in shares of Quest Diagnostics in the fourth quarter valued at approximately $33,000. Versant Capital Management Inc raised its position in shares of Quest Diagnostics by 340.4% in the fourth 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 in the last quarter. First Financial Corp IN acquired a new stake in shares of Quest Diagnostics in the fourth quarter valued at approximately $38,000. FPC Investment Advisory Inc. acquired a new stake in shares of Quest Diagnostics in the fourth quarter valued at approximately $45,000. Finally, Global Trust Asset Management LLC acquired a new stake in shares of Quest Diagnostics in the fourth quarter valued at approximately $49,000. Institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Stock Down 1.0 %

Shares of NYSE:DGX opened at $166.25 on Friday. The company has a fifty day moving average of $164.88 and a 200-day moving average of $158.53. The company has a market capitalization of $18.45 billion, a PE ratio of 21.62, a price-to-earnings-growth ratio of 2.16 and a beta of 0.92. 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 $125.42 and a 52-week high of $178.87.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings data on Thursday, January 30th. The medical research company reported $2.23 earnings per share for the quarter, topping the consensus estimate 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 analysts predict that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be paid a $0.80 dividend. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.20 annualized dividend and a dividend yield of 1.92%. Quest Diagnostics’s payout ratio is currently 41.61%.

Insider Buying and Selling

In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 528 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $172.61, for a total transaction of $91,138.08. Following the completion of the sale, the senior vice president now directly owns 39,031 shares in the company, valued at approximately $6,737,140.91. This trade represents a 1.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Mark E. Delaney sold 403 shares of the 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 sale, the senior vice president now owns 4,624 shares of the company’s stock, valued at approximately $759,723.20. The trade was a 8.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,157 shares of company stock valued at $2,423,755 over the last 90 days. 0.79% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on DGX. Piper Sandler reiterated a “neutral” rating and issued a $180.00 price target (up from $165.00) on shares of Quest Diagnostics in a research report on Monday, February 3rd. Mizuho boosted their price objective on shares of Quest Diagnostics from $177.00 to $178.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. UBS Group boosted their price objective on shares of Quest Diagnostics from $166.00 to $170.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Citigroup downgraded shares of Quest Diagnostics from a “buy” rating to a “neutral” rating and set a $185.00 price objective for the company. in a research report on Tuesday, March 4th. Finally, Leerink Partners upgraded shares of Quest Diagnostics from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $169.00 to $174.00 in a research report on Monday, January 6th. Eight investment analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $178.38.

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.