Linden Thomas Advisory Services LLC Buys 981 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

Linden Thomas Advisory Services LLC increased its holdings in Quest Diagnostics Incorporated (NYSE:DGX) by 10.0% in the fourth quarter, Holdings Channel reports. The fund owned 10,749 shares of the medical research company’s stock after purchasing an additional 981 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Quest Diagnostics were worth $1,482,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of DGX. Czech National Bank increased its position in shares of Quest Diagnostics by 0.4% during the fourth quarter. Czech National Bank now owns 19,692 shares of the medical research company’s stock worth $2,715,000 after purchasing an additional 75 shares in the last quarter. Mendota Financial Group LLC raised its position in shares of Quest Diagnostics by 6.2% in the fourth quarter. Mendota Financial Group LLC now owns 1,296 shares of the medical research company’s stock worth $179,000 after acquiring an additional 76 shares during the period. Exchange Traded Concepts LLC raised its stake in shares of Quest Diagnostics by 1.9% during the 3rd quarter. Exchange Traded Concepts LLC now owns 4,417 shares of the medical research company’s stock worth $538,000 after buying an additional 84 shares during the period. Montecito Bank & Trust lifted its holdings in Quest Diagnostics by 4.7% during the fourth quarter. Montecito Bank & Trust now owns 1,909 shares of the medical research company’s stock valued at $263,000 after purchasing an additional 85 shares in the last quarter. Finally, Naples Global Advisors LLC increased its position in shares of Quest Diagnostics by 1.5% during the fourth quarter. Naples Global Advisors LLC now owns 6,171 shares of the medical research company’s stock worth $851,000 after purchasing an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Mizuho increased their price target on shares of Quest Diagnostics from $150.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday. Leerink Partnrs reiterated a “market perform” rating on shares of Quest Diagnostics in a research note on Monday, February 26th. TheStreet lowered shares of Quest Diagnostics from a “b-” rating to a “c” rating in a research note on Monday, February 5th. Truist Financial increased their price objective on Quest Diagnostics from $145.00 to $150.00 and gave the stock a “hold” rating in a research report on Wednesday. Finally, SVB Leerink began coverage on Quest Diagnostics in a research note on Monday, February 26th. They issued a “market perform” rating and a $135.00 target price for the company. Ten investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $146.25.

Insider Activity

In related news, SVP Michael E. Prevoznik sold 661 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $126.14, for a total value of $83,378.54. Following the completion of the transaction, the senior vice president now owns 40,206 shares in the company, valued at approximately $5,071,584.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 5,611 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $125.88, for a total value of $706,312.68. Following the completion of the sale, the senior vice president now owns 38,478 shares in the company, valued at approximately $4,843,610.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Michael E. Prevoznik sold 661 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $126.14, for a total transaction of $83,378.54. Following the transaction, the senior vice president now owns 40,206 shares in the company, valued at $5,071,584.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,150 shares of company stock worth $1,913,202. Insiders own 0.79% of the company’s stock.

Quest Diagnostics Stock Performance

DGX stock traded up $0.89 during midday trading on Wednesday, reaching $137.59. The company had a trading volume of 640,760 shares, compared to its average volume of 1,052,251. The firm has a market capitalization of $15.28 billion, a PE ratio of 18.39, a P/E/G ratio of 2.81 and a beta of 0.91. The stock has a 50 day moving average price of $128.50 and a 200 day moving average price of $131.03. Quest Diagnostics Incorporated has a fifty-two week low of $119.59 and a fifty-two week high of $148.62. The company has a quick ratio of 1.20, a current ratio of 1.31 and a debt-to-equity ratio of 0.70.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings data on Tuesday, April 23rd. The medical research company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.18. Quest Diagnostics had a return on equity of 15.79% and a net margin of 9.23%. The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.29 billion. During the same period in the prior year, the business earned $2.04 EPS. The firm’s revenue was up 1.7% on a year-over-year basis. Analysts anticipate that Quest Diagnostics Incorporated will post 8.75 earnings per share for the current year.

Quest Diagnostics Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were issued a dividend of $0.75 per share. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.71. This represents a $3.00 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date was Friday, April 5th. Quest Diagnostics’s payout ratio is presently 37.92%.

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.