Quest Diagnostics Incorporated (NYSE:DGX) Shares Purchased by Mizuho Securities USA LLC

Mizuho Securities USA LLC boosted its holdings in Quest Diagnostics Incorporated (NYSE:DGX) by 46.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,579 shares of the medical research company’s stock after buying an additional 3,361 shares during the period. Mizuho Securities USA LLC’s holdings in Quest Diagnostics were worth $1,596,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new position in Quest Diagnostics during the fourth quarter worth approximately $379,000. Whittier Trust Co. grew its stake in shares of Quest Diagnostics by 34.5% during the 4th quarter. Whittier Trust Co. now owns 1,558 shares of the medical research company’s stock valued at $235,000 after buying an additional 400 shares during the period. Sandy Spring Bank increased its holdings in shares of Quest Diagnostics by 142.5% during the 4th quarter. Sandy Spring Bank now owns 485 shares of the medical research company’s stock worth $73,000 after buying an additional 285 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of Quest Diagnostics in the 4th quarter worth $409,000. Finally, Xponance Inc. boosted its holdings in Quest Diagnostics by 4.8% in the fourth quarter. Xponance Inc. now owns 17,401 shares of the medical research company’s stock valued at $2,625,000 after acquiring an additional 795 shares during the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Barclays raised their price objective on Quest Diagnostics from $168.00 to $175.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Jefferies Financial Group reaffirmed a “buy” rating and set a $185.00 price target (up from $175.00) on shares of Quest Diagnostics in a research report on Tuesday, December 10th. Mizuho increased their price objective on shares of Quest Diagnostics from $177.00 to $178.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Morgan Stanley upgraded shares of Quest Diagnostics from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $145.00 to $172.00 in a report on Tuesday, December 17th. Finally, Truist Financial increased their price target on Quest Diagnostics from $172.00 to $182.00 and gave the company a “hold” rating in a report on Friday, January 31st. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Quest Diagnostics has an average rating of “Moderate Buy” and an average target price of $178.38.

Quest Diagnostics Price Performance

Shares of NYSE DGX opened at $165.49 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. Quest Diagnostics Incorporated has a fifty-two week low of $125.42 and a fifty-two week high of $178.87. The business has a 50 day moving average price of $165.70 and a two-hundred day moving average price of $158.82. The firm has a market cap of $18.37 billion, a PE ratio of 21.52, a price-to-earnings-growth ratio of 2.16 and a beta of 0.92.

Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings results on Thursday, January 30th. The medical research company reported $2.23 earnings per share (EPS) for the quarter, beating 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%. 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. Investors of record on Monday, April 7th will be issued a $0.80 dividend. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Monday, April 7th. Quest Diagnostics’s payout ratio is currently 41.61%.

Insider Buying and Selling at Quest Diagnostics

In other news, Director Vicky B. Gregg sold 1,250 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $164.57, for a total value of $205,712.50. Following the transaction, the director now directly owns 16,867 shares in the company, valued at approximately $2,775,802.19. This trade represents a 6.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Mark E. Delaney sold 403 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 4,624 shares in the company, valued at $759,723.20. This represents a 8.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,157 shares of company stock worth $2,423,755 over the last quarter. 0.79% of the stock is owned by corporate insiders.

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.