Metis Global Partners LLC Buys 350 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

Metis Global Partners LLC raised its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 5.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,210 shares of the medical research company’s stock after purchasing an additional 350 shares during the quarter. Metis Global Partners LLC’s holdings in Quest Diagnostics were worth $1,119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of DGX. Rothschild Investment LLC purchased a new position in Quest Diagnostics in the second quarter worth $26,000. Larson Financial Group LLC boosted its holdings in shares of Quest Diagnostics by 77.5% in the 2nd quarter. Larson Financial Group LLC now owns 229 shares of the medical research company’s stock worth $31,000 after purchasing an additional 100 shares in the last quarter. Innealta Capital LLC bought a new position in shares of Quest Diagnostics during the 2nd quarter valued at about $31,000. TruNorth Capital Management LLC purchased a new position in shares of Quest Diagnostics during the 2nd quarter valued at about $33,000. Finally, EdgeRock Capital LLC bought a new stake in Quest Diagnostics in the 2nd quarter worth approximately $35,000. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Insider Transactions at Quest Diagnostics

In other news, CAO Michael J. Deppe sold 18,755 shares of Quest Diagnostics stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $154.05, for a total value of $2,889,207.75. Following the completion of the transaction, the chief accounting officer now owns 34,941 shares of the company’s stock, valued at $5,382,661.05. The trade was a 34.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Karthik Kuppusamy sold 1,775 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $156.92, for a total transaction of $278,533.00. Following the sale, the senior vice president now directly owns 9,734 shares in the company, valued at $1,527,459.28. This trade represents a 15.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,520 shares of company stock valued at $3,472,728. Insiders own 0.79% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on DGX shares. Barclays lifted their price target on shares of Quest Diagnostics from $154.00 to $168.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 23rd. Evercore ISI initiated coverage on shares of Quest Diagnostics in a research report on Wednesday, August 28th. They issued an “in-line” rating and a $165.00 target price on the stock. Piper Sandler upped their price target on shares of Quest Diagnostics from $150.00 to $165.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Truist Financial lifted their price objective on Quest Diagnostics from $158.00 to $165.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Finally, Baird R W upgraded Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 23rd. Nine research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $164.58.

Quest Diagnostics Stock Performance

Shares of DGX opened at $160.44 on Friday. The company has a 50-day simple moving average of $153.99 and a two-hundred day simple moving average of $147.41. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.25 and a quick ratio of 1.17. The firm has a market capitalization of $17.91 billion, a PE ratio of 21.56, a price-to-earnings-growth ratio of 2.79 and a beta of 0.89. Quest Diagnostics Incorporated has a one year low of $123.04 and a one year high of $162.59.

Quest Diagnostics (NYSE:DGX) last released its earnings results on Tuesday, October 22nd. The medical research company reported $2.30 EPS for the quarter, beating analysts’ consensus estimates 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 last year, the business posted $2.22 EPS. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, analysts anticipate that Quest Diagnostics Incorporated will post 8.9 EPS for the current fiscal year.

Quest Diagnostics Dividend Announcement

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

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.