Galvin Gaustad & Stein LLC Has $1.45 Million Stake in Quest Diagnostics Incorporated (NYSE:DGX)

Galvin Gaustad & Stein LLC cut its position in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 12.7% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 8,542 shares of the medical research company’s stock after selling 1,243 shares during the quarter. Galvin Gaustad & Stein LLC’s holdings in Quest Diagnostics were worth $1,445,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. TCW Group Inc. bought a new stake in Quest Diagnostics during the first quarter valued at $2,603,000. Perkins Capital Management Inc. acquired a new position in shares of Quest Diagnostics in the 1st quarter valued at about $203,000. LPL Financial LLC boosted its position in shares of Quest Diagnostics by 27.5% during the 1st quarter. LPL Financial LLC now owns 63,955 shares of the medical research company’s stock valued at $10,821,000 after purchasing an additional 13,789 shares in the last quarter. Empirical Finance LLC grew its stake in Quest Diagnostics by 3.9% during the first quarter. Empirical Finance LLC now owns 4,058 shares of the medical research company’s stock worth $687,000 after purchasing an additional 154 shares during the period. Finally, TD Asset Management Inc increased its holdings in Quest Diagnostics by 7.1% in the first quarter. TD Asset Management Inc now owns 102,530 shares of the medical research company’s stock worth $17,348,000 after purchasing an additional 6,825 shares in the last quarter. Institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Stock Down 2.0%

DGX stock opened at $168.38 on Monday. The firm has a market capitalization of $18.83 billion, a PE ratio of 20.16, a P/E/G ratio of 2.24 and a beta of 0.49. The company has a quick ratio of 0.99, a current ratio of 1.09 and a debt-to-equity ratio of 0.71. Quest Diagnostics Incorporated has a twelve month low of $140.71 and a twelve month high of $182.38. The stock’s 50 day moving average is $174.51 and its 200-day moving average is $169.83.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings data on Tuesday, July 22nd. The medical research company reported $2.62 earnings per share for the quarter, beating the consensus estimate of $2.57 by $0.05. The business had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.73 billion. Quest Diagnostics had a return on equity of 15.24% and a net margin of 9.01%. The business’s revenue was up 15.2% on a year-over-year basis. During the same period last year, the business earned $2.35 EPS. Sell-side analysts expect that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, July 7th were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.90%. The ex-dividend date was Monday, July 7th. Quest Diagnostics’s dividend payout ratio (DPR) is presently 38.32%.

Analysts Set New Price Targets

A number of research firms have issued reports on DGX. William Blair restated an “outperform” rating on shares of Quest Diagnostics in a report on Wednesday, July 23rd. UBS Group dropped their target price on shares of Quest Diagnostics from $176.00 to $175.00 and set a “neutral” rating on the stock in a research report on Friday, July 18th. Robert W. Baird raised their price target on shares of Quest Diagnostics from $191.00 to $194.00 and gave the stock an “outperform” rating in a report on Wednesday, April 23rd. JPMorgan Chase & Co. lifted their price target on shares of Quest Diagnostics from $180.00 to $190.00 and gave the company a “neutral” rating in a research note on Tuesday, May 6th. Finally, Piper Sandler increased their price objective on shares of Quest Diagnostics from $180.00 to $200.00 and gave the stock a “neutral” rating in a research report on Monday, April 28th. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Quest Diagnostics has an average rating of “Moderate Buy” and an average price target of $185.69.

Insider Transactions at Quest Diagnostics

In other Quest Diagnostics news, SVP Mark E. Delaney sold 874 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $175.72, for a total value of $153,579.28. Following the completion of the sale, the senior vice president owned 8,372 shares in the company, valued at approximately $1,471,127.84. This trade represents a 9.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 8.16% of the company’s stock.

About Quest Diagnostics

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.