Elo Mutual Pension Insurance Co Invests $1.81 Million in Quest Diagnostics Incorporated (NYSE:DGX)

Elo Mutual Pension Insurance Co bought a new position in shares of Quest Diagnostics Incorporated (NYSE:DGX) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 11,975 shares of the medical research company’s stock, valued at approximately $1,807,000.

Several other hedge funds have also modified their holdings of DGX. The Manufacturers Life Insurance Company boosted its holdings in shares of Quest Diagnostics by 36.1% in the third quarter. The Manufacturers Life Insurance Company now owns 171,694 shares of the medical research company’s stock worth $26,655,000 after buying an additional 45,577 shares during the period. Townsquare Capital LLC lifted its position in shares of Quest Diagnostics by 5.8% in the 3rd quarter. Townsquare Capital LLC now owns 1,659 shares of the medical research company’s stock valued at $258,000 after acquiring an additional 91 shares in the last quarter. CreativeOne Wealth LLC boosted its stake in Quest Diagnostics by 83.7% in the 3rd quarter. CreativeOne Wealth LLC now owns 5,343 shares of the medical research company’s stock worth $829,000 after purchasing an additional 2,434 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Quest Diagnostics by 6.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 114,003 shares of the medical research company’s stock worth $17,699,000 after purchasing an additional 6,839 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its stake in Quest Diagnostics by 13.9% during the 3rd quarter. Public Sector Pension Investment Board now owns 4,915 shares of the medical research company’s stock valued at $763,000 after purchasing an additional 600 shares during the period. 88.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Quest Diagnostics

In other news, SVP Michael E. Prevoznik sold 4,643 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $170.00, for a total value of $789,310.00. Following the completion of the sale, the senior vice president now directly owns 38,117 shares of the company’s stock, valued at approximately $6,479,890. This represents a 10.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Catherine T. Doherty sold 5,370 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $174.13, for a total transaction of $935,078.10. Following the transaction, the executive vice president now directly owns 68,068 shares in the company, valued at $11,852,680.84. This trade represents a 7.31 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,157 shares of company stock worth $2,423,755. 0.79% of the stock is owned by insiders.

Quest Diagnostics Trading Up 0.8 %

Quest Diagnostics stock opened at $167.28 on Friday. Quest Diagnostics Incorporated has a one year low of $125.42 and a one year high of $178.87. The company’s fifty day moving average price is $166.64 and its two-hundred day moving average price is $159.06. 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 $18.56 billion, a price-to-earnings ratio of 21.75, a PEG ratio of 2.16 and a beta of 0.92.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings data 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 return on equity of 15.07% and a net margin of 8.80%. On average, analysts forecast 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. Stockholders of record on Monday, April 7th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.91%. 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. Quest Diagnostics’s payout ratio is presently 41.61%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Piper Sandler reaffirmed a “neutral” rating and issued a $180.00 target price (up previously from $165.00) on shares of Quest Diagnostics in a research report on Monday, February 3rd. Citigroup cut Quest Diagnostics from a “buy” rating to a “neutral” rating and set a $185.00 target price on the stock. in a research note on Tuesday, March 4th. JPMorgan Chase & Co. increased their price target on shares of Quest Diagnostics from $173.00 to $180.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Barclays boosted their price objective 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. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $185.00 target price (up previously from $175.00) on shares of Quest Diagnostics in a research report on Tuesday, December 10th. Eight analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Quest Diagnostics presently has a consensus rating of “Moderate Buy” and a consensus price target 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.