Quest Diagnostics Incorporated (NYSE:DGX) Shares Purchased by Cerity Partners LLC

Cerity Partners LLC grew its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 26.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,735 shares of the medical research company’s stock after purchasing an additional 8,094 shares during the period. Cerity Partners LLC’s holdings in Quest Diagnostics were worth $6,014,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Janus Henderson Group PLC grew its holdings in Quest Diagnostics by 126.0% during the first quarter. Janus Henderson Group PLC now owns 37,305 shares of the medical research company’s stock worth $4,966,000 after acquiring an additional 20,800 shares during the period. B. Riley Wealth Advisors Inc. boosted its position in shares of Quest Diagnostics by 19.7% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 2,022 shares of the medical research company’s stock worth $246,000 after purchasing an additional 333 shares in the last quarter. California State Teachers Retirement System grew its stake in shares of Quest Diagnostics by 0.6% during the 1st quarter. California State Teachers Retirement System now owns 178,191 shares of the medical research company’s stock worth $23,719,000 after purchasing an additional 1,008 shares during the period. Tidal Investments LLC increased its holdings in shares of Quest Diagnostics by 218.2% in the 1st quarter. Tidal Investments LLC now owns 10,718 shares of the medical research company’s stock valued at $1,427,000 after purchasing an additional 7,350 shares in the last quarter. Finally, LBP AM SA lifted its stake in shares of Quest Diagnostics by 108.8% in the first quarter. LBP AM SA now owns 7,016 shares of the medical research company’s stock valued at $934,000 after purchasing an additional 3,656 shares during the period. 88.06% of the stock is owned by hedge funds and other institutional investors.

Quest Diagnostics Stock Performance

NYSE:DGX opened at $163.36 on Thursday. The firm has a market cap of $18.23 billion, a PE ratio of 21.96, a P/E/G ratio of 2.81 and a beta of 0.89. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.25 and a quick ratio of 1.17. Quest Diagnostics Incorporated has a 1-year low of $123.04 and a 1-year high of $165.32. The firm has a 50 day simple moving average of $155.26 and a 200-day simple moving average of $148.90.

Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings results on Tuesday, October 22nd. The medical research company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.26 by $0.04. Quest Diagnostics had a return on equity of 15.25% and a net margin of 8.82%. The company had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter in the previous year, the business earned $2.22 EPS. The firm’s revenue was up 8.5% on a year-over-year basis. On average, equities analysts expect that Quest Diagnostics Incorporated will post 8.9 EPS for the current year.

Quest Diagnostics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Tuesday, January 14th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Tuesday, January 14th. Quest Diagnostics’s dividend payout ratio (DPR) is presently 40.32%.

Insiders Place Their Bets

In related news, SVP Karthik Kuppusamy sold 1,775 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $156.92, for a total transaction of $278,533.00. Following the transaction, the senior vice president now directly owns 9,734 shares of the company’s stock, valued at approximately $1,527,459.28. The trade was a 15.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Michael J. Deppe sold 18,755 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $154.05, for a total transaction of $2,889,207.75. Following the completion of the sale, the chief accounting officer now directly owns 34,941 shares of the company’s stock, valued at $5,382,661.05. This trade represents a 34.93 % decrease in their position. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Baird R W raised shares of Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 23rd. Truist Financial raised their price objective on Quest Diagnostics from $158.00 to $165.00 and gave the company a “hold” rating in a research note on Monday, October 7th. Evercore ISI assumed coverage on Quest Diagnostics in a research report on Wednesday, August 28th. They set an “in-line” rating and a $165.00 target price on the stock. Barclays raised their price target on Quest Diagnostics from $154.00 to $168.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 23rd. Finally, StockNews.com downgraded Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Monday, November 18th. Nine research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $164.58.

Quest Diagnostics 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.