Callan Family Office LLC Acquires Shares of 1,349 Quest Diagnostics Incorporated (NYSE:DGX)

Callan Family Office LLC acquired a new stake in shares of Quest Diagnostics Incorporated (NYSE:DGX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,349 shares of the medical research company’s stock, valued at approximately $204,000.

Other institutional investors have also added to or reduced their stakes in the company. Sierra Ocean LLC purchased a new stake in Quest Diagnostics during the fourth quarter valued at about $33,000. Versant Capital Management Inc lifted its holdings in shares of Quest Diagnostics by 340.4% in the fourth quarter. Versant Capital Management Inc now owns 251 shares of the medical research company’s stock worth $38,000 after buying an additional 194 shares in the last quarter. First Financial Corp IN purchased a new stake in shares of Quest Diagnostics in the fourth quarter worth about $38,000. FPC Investment Advisory Inc. purchased a new stake in shares of Quest Diagnostics in the fourth quarter worth about $45,000. Finally, Global Trust Asset Management LLC purchased a new stake in shares of Quest Diagnostics in the fourth quarter worth about $49,000. 88.06% of the stock is owned by hedge funds and other institutional investors.

Quest Diagnostics Stock Performance

NYSE DGX opened at $168.12 on Wednesday. The company has a 50-day simple moving average of $162.53 and a two-hundred day simple moving average of $157.88. 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 12-month low of $125.09 and a 12-month high of $178.87. The firm has a market cap of $18.66 billion, a price-to-earnings ratio of 21.86, a PEG 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%. On average, equities analysts forecast that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.90%. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Monday, April 7th. Quest Diagnostics’s dividend payout ratio is presently 41.61%.

Insider Buying and Selling at Quest Diagnostics

In other news, Director Vicky B. Gregg sold 1,250 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $164.57, for a total transaction of $205,712.50. Following the completion of the sale, the director now directly owns 16,867 shares in the company, valued at approximately $2,775,802.19. This represents a 6.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Mark E. Delaney sold 403 shares of the 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 sale, the senior vice president now owns 4,624 shares of the company’s stock, valued at approximately $759,723.20. This represents a 8.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,514 shares of company stock worth $1,634,445 over the last three months. Company insiders own 0.79% of the company’s stock.

Analysts Set New Price Targets

DGX has been the topic of a number of recent analyst reports. Barclays increased their price target on shares of Quest Diagnostics from $168.00 to $175.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Leerink Partners raised shares of Quest Diagnostics from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $169.00 to $174.00 in a report on Monday, January 6th. Jefferies Financial Group reissued a “buy” rating and issued a $185.00 price target (up from $175.00) on shares of Quest Diagnostics in a report on Tuesday, December 10th. Robert W. Baird set a $189.00 price objective on shares of Quest Diagnostics in a research report on Friday, January 31st. Finally, UBS Group upped their price objective on shares of Quest Diagnostics from $166.00 to $170.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Eight investment 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. According to MarketBeat.com, Quest Diagnostics has an average rating of “Moderate Buy” and an average 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.