52,100 Shares in Quest Diagnostics Incorporated (NYSE:DGX) Bought by Adams Diversified Equity Fund Inc.

Adams Diversified Equity Fund Inc. bought a new position in shares of Quest Diagnostics Incorporated (NYSE:DGX) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 52,100 shares of the medical research company’s stock, valued at approximately $8,815,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. SBI Securities Co. Ltd. bought a new position in Quest Diagnostics during the fourth quarter worth $54,000. SVB Wealth LLC bought a new position in Quest Diagnostics during the fourth quarter worth $10,345,000. Janney Montgomery Scott LLC increased its position in Quest Diagnostics by 9.5% during the first quarter. Janney Montgomery Scott LLC now owns 18,010 shares of the medical research company’s stock worth $3,047,000 after acquiring an additional 1,566 shares during the period. Bank of New York Mellon Corp increased its position in Quest Diagnostics by 14.8% during the fourth quarter. Bank of New York Mellon Corp now owns 881,764 shares of the medical research company’s stock worth $133,023,000 after acquiring an additional 113,956 shares during the period. Finally, State of Alaska Department of Revenue increased its position in Quest Diagnostics by 2.2% during the first quarter. State of Alaska Department of Revenue now owns 13,006 shares of the medical research company’s stock worth $2,200,000 after acquiring an additional 280 shares during the period. Institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Stock Up 0.1%

DGX opened at $179.93 on Wednesday. The firm’s 50-day simple moving average is $174.94 and its 200-day simple moving average is $166.60. The firm has a market cap of $20.09 billion, a price-to-earnings ratio of 22.75, a PEG ratio of 2.51 and a beta of 0.49. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.31 and a current ratio of 1.44. Quest Diagnostics Incorporated has a twelve month low of $135.47 and a twelve month high of $182.38.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Tuesday, April 22nd. The medical research company reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.06. The business had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.63 billion. Quest Diagnostics had a net margin of 8.81% and a return on equity of 15.11%. Equities research analysts anticipate that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 21st. Investors of record on Monday, July 7th will be given a dividend of $0.80 per share. The ex-dividend date is Monday, July 7th. This represents a $3.20 annualized dividend and a yield of 1.78%. Quest Diagnostics’s dividend payout ratio (DPR) is 40.46%.

Insider Buying and Selling

In other Quest Diagnostics news, CEO J. E. Davis sold 39,191 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $168.46, for a total transaction of $6,602,115.86. Following the transaction, the chief executive officer now directly owns 127,623 shares in the company, valued at approximately $21,499,370.58. This represents a 23.49% 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 2,555 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $170.00, for a total transaction of $434,350.00. Following the transaction, the senior vice president now owns 10,575 shares in the company, valued at approximately $1,797,750. The trade was a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,620 shares of company stock worth $7,190,045 in the last 90 days. Corporate insiders own 8.16% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on DGX shares. Robert W. Baird boosted their price target on shares of Quest Diagnostics from $191.00 to $194.00 and gave the company an “outperform” rating in a report on Wednesday, April 23rd. Wall Street Zen lowered shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Saturday, June 7th. Redburn Atlantic started coverage on shares of Quest Diagnostics in a report on Wednesday, April 2nd. They issued a “buy” rating and a $195.00 price target on the stock. Citigroup lowered shares of Quest Diagnostics from a “buy” rating to a “neutral” rating and set a $185.00 price target on the stock. in a report on Tuesday, March 4th. Finally, Mizuho boosted their price target on shares of Quest Diagnostics from $178.00 to $189.00 and gave the company an “outperform” rating in a report on Wednesday, April 9th. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $185.73.

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.