Waterway Wealth Management LLC Has $463,000 Stock Position in Quest Diagnostics Incorporated (NYSE:DGX)

Waterway Wealth Management LLC increased its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 14.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,481 shares of the medical research company’s stock after purchasing an additional 438 shares during the quarter. Waterway Wealth Management LLC’s holdings in Quest Diagnostics were worth $463,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. Czech National Bank lifted its stake in Quest Diagnostics by 0.4% in the fourth quarter. Czech National Bank now owns 19,692 shares of the medical research company’s stock valued at $2,715,000 after acquiring an additional 75 shares during the last quarter. Mendota Financial Group LLC lifted its stake in 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 valued at $179,000 after acquiring an additional 76 shares during the last quarter. Montecito Bank & Trust lifted its stake in Quest Diagnostics by 4.7% in the fourth quarter. Montecito Bank & Trust now owns 1,909 shares of the medical research company’s stock valued at $263,000 after acquiring an additional 85 shares during the last quarter. Naples Global Advisors LLC lifted its stake in Quest Diagnostics by 1.5% in the fourth quarter. Naples Global Advisors LLC now owns 6,171 shares of the medical research company’s stock valued at $851,000 after acquiring an additional 90 shares during the last quarter. Finally, State of Michigan Retirement System lifted its stake in Quest Diagnostics by 0.3% in the fourth quarter. State of Michigan Retirement System now owns 33,417 shares of the medical research company’s stock valued at $4,608,000 after acquiring an additional 100 shares during the last quarter. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Quest Diagnostics Price Performance

Shares of NYSE:DGX traded down $0.46 on Friday, hitting $136.88. The stock had a trading volume of 1,284,686 shares, compared to its average volume of 754,392. Quest Diagnostics Incorporated has a twelve month low of $119.59 and a twelve month high of $145.62. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.89 and a current ratio of 0.97. The firm’s 50 day moving average price is $139.08 and its 200-day moving average price is $133.73. The company has a market capitalization of $15.21 billion, a price-to-earnings ratio of 18.42, a price-to-earnings-growth ratio of 2.97 and a beta of 0.89.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Tuesday, April 23rd. The medical research company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.18. The business had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.29 billion. Quest Diagnostics had a net margin of 9.11% and a return on equity of 15.52%. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.04 EPS. On average, equities research analysts predict that Quest Diagnostics Incorporated will post 8.79 earnings per share for the current year.

Quest Diagnostics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 22nd. Shareholders of record on Monday, July 8th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Monday, July 8th. This represents a $3.00 annualized dividend and a yield of 2.19%. Quest Diagnostics’s dividend payout ratio is currently 40.38%.

Analyst Ratings Changes

DGX has been the topic of a number of recent analyst reports. Mizuho lifted their price target on shares of Quest Diagnostics from $150.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Truist Financial lifted their price target on shares of Quest Diagnostics from $145.00 to $150.00 and gave the company a “hold” rating in a research report on Wednesday, April 24th. JPMorgan Chase & Co. lifted their price target on shares of Quest Diagnostics from $152.00 to $155.00 and gave the company a “neutral” rating in a research report on Thursday, May 30th. Citigroup boosted their target price on shares of Quest Diagnostics from $135.00 to $145.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Finally, UBS Group boosted their target price on shares of Quest Diagnostics from $139.00 to $146.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Quest Diagnostics currently has a consensus rating of “Hold” and an average price target of $146.67.

Insiders Place Their Bets

In other Quest Diagnostics news, SVP Karthik Kuppusamy sold 1,760 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $140.00, for a total transaction of $246,400.00. Following the completion of the sale, the senior vice president now directly owns 13,435 shares of the company’s stock, valued at approximately $1,880,900. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.79% 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.