Proficio Capital Partners LLC Invests $14.39 Million in Quest Diagnostics Incorporated (NYSE:DGX)

Proficio Capital Partners LLC bought a new position in shares of Quest Diagnostics Incorporated (NYSE:DGX) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 95,398 shares of the medical research company’s stock, valued at approximately $14,392,000.

Several other institutional investors and hedge funds have also made changes to their positions in DGX. Assetmark Inc. boosted its holdings in shares of Quest Diagnostics by 2.7% during the 3rd quarter. Assetmark Inc. now owns 6,123 shares of the medical research company’s stock worth $951,000 after purchasing an additional 162 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in Quest Diagnostics in the third quarter valued at approximately $224,000. Prime Capital Investment Advisors LLC acquired a new position in Quest Diagnostics in the third quarter valued at approximately $205,000. MQS Management LLC acquired a new position in Quest Diagnostics in the third quarter valued at approximately $207,000. Finally, Pinnacle Financial Partners Inc acquired a new position in Quest Diagnostics in the third quarter valued at approximately $209,000. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Quest Diagnostics Stock Up 0.8 %

Quest Diagnostics stock opened at $170.20 on Friday. Quest Diagnostics Incorporated has a twelve month low of $125.42 and a twelve month high of $178.87. The stock’s fifty day simple moving average is $163.56 and its 200-day simple moving average is $158.13. The company has a current ratio of 1.10, a quick ratio of 1.02 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $18.89 billion, a P/E ratio of 22.13, a P/E/G ratio of 2.16 and a beta of 0.92.

Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings data on Thursday, January 30th. The medical research company reported $2.23 earnings per share for the quarter, topping 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%. As a group, equities analysts expect that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal year.

Quest Diagnostics Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Stockholders 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 represents a $3.20 dividend on an annualized basis and a dividend yield of 1.88%. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.75. Quest Diagnostics’s dividend payout ratio is currently 41.61%.

Insider Transactions at Quest Diagnostics

In related news, EVP Catherine T. Doherty sold 5,370 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $174.13, for a total transaction of $935,078.10. Following the completion of the transaction, the executive vice president now owns 68,068 shares in the company, valued at approximately $11,852,680.84. The trade was a 7.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Vicky B. Gregg sold 1,250 shares of the business’s stock in a transaction on 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 owns 16,867 shares of the company’s stock, valued at approximately $2,775,802.19. The trade was a 6.90 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,514 shares of company stock valued at $1,634,445. 0.79% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Bank of America upped their price objective on Quest Diagnostics from $179.00 to $182.00 and gave the company a “buy” rating in a report on Friday, December 13th. Truist Financial upped their price objective on Quest Diagnostics from $172.00 to $182.00 and gave the company a “hold” rating in a report on Friday, January 31st. UBS Group upped their price objective on Quest Diagnostics from $166.00 to $170.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Piper Sandler reiterated a “neutral” rating and issued a $180.00 price objective (up from $165.00) on shares of Quest Diagnostics in a report on Monday, February 3rd. Finally, Citigroup lowered Quest Diagnostics from a “buy” rating to a “neutral” rating and set a $185.00 target price on the stock. in a research report on Tuesday, March 4th. Eight equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently 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.