MQS Management LLC Acquires New Stake in Quest Diagnostics Incorporated (NYSE:DGX)

MQS Management LLC acquired a new stake in Quest Diagnostics Incorporated (NYSE:DGX) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,332 shares of the medical research company’s stock, valued at approximately $207,000.

Several other institutional investors have also bought and sold shares of the company. Prime Capital Investment Advisors LLC purchased a new position in Quest Diagnostics in the third quarter valued at approximately $205,000. WCM Investment Management LLC purchased a new position in Quest Diagnostics in the third quarter valued at approximately $293,000. Nations Financial Group Inc. IA ADV lifted its stake in Quest Diagnostics by 18.9% in the third quarter. Nations Financial Group Inc. IA ADV now owns 4,265 shares of the medical research company’s stock valued at $662,000 after purchasing an additional 679 shares during the last quarter. Versor Investments LP lifted its stake in Quest Diagnostics by 132.0% in the third quarter. Versor Investments LP now owns 6,297 shares of the medical research company’s stock valued at $978,000 after purchasing an additional 3,583 shares during the last quarter. Finally, Chartwell Investment Partners LLC lifted its stake in Quest Diagnostics by 3.9% in the third quarter. Chartwell Investment Partners LLC now owns 68,900 shares of the medical research company’s stock valued at $10,697,000 after purchasing an additional 2,591 shares during the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Stock Performance

Quest Diagnostics stock opened at $160.39 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.17 and a debt-to-equity ratio of 0.83. Quest Diagnostics Incorporated has a 1-year low of $123.04 and a 1-year high of $162.59. The firm has a 50-day moving average of $153.84 and a 200-day moving average of $147.26. The firm has a market cap of $17.90 billion, a P/E ratio of 21.56, a P/E/G ratio of 2.79 and a beta of 0.89.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings data on Tuesday, October 22nd. The medical research company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.26 by $0.04. Quest Diagnostics had a net margin of 8.82% and a return on equity of 15.25%. The business had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period last year, the business posted $2.22 earnings per share. Quest Diagnostics’s quarterly revenue was up 8.5% compared to the same quarter last year. Sell-side analysts expect that Quest Diagnostics Incorporated will post 8.9 EPS for the current year.

Quest Diagnostics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Tuesday, January 14th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Tuesday, January 14th. Quest Diagnostics’s dividend payout ratio is 40.32%.

Insider Buying and Selling at Quest Diagnostics

In other Quest Diagnostics news, CAO Michael J. Deppe sold 18,755 shares of Quest Diagnostics stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $154.05, for a total value of $2,889,207.75. Following the completion of the sale, the chief accounting officer now owns 34,941 shares of the company’s stock, valued at approximately $5,382,661.05. The trade was a 34.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Karthik Kuppusamy sold 1,990 shares of Quest Diagnostics stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $153.26, for a total transaction of $304,987.40. Following the completion of the sale, the senior vice president now directly owns 11,459 shares of the company’s stock, valued at approximately $1,756,206.34. This trade represents a 14.80 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,520 shares of company stock valued at $3,472,728. Corporate insiders own 0.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Truist Financial increased their target price on Quest Diagnostics from $158.00 to $165.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. Citigroup upped their price target on shares of Quest Diagnostics from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. UBS Group upped their price target on shares of Quest Diagnostics from $165.00 to $166.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Barclays increased their target price on Quest Diagnostics from $154.00 to $168.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 23rd. Finally, Evercore ISI initiated coverage on Quest Diagnostics in a research note on Wednesday, August 28th. They issued an “in-line” rating and a $165.00 target price on the stock. Nine investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus 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.