Roberts Glore & Co. Inc. IL Decreases Stake in Quest Diagnostics Incorporated (NYSE:DGX)

Roberts Glore & Co. Inc. IL reduced its stake in Quest Diagnostics Incorporated (NYSE:DGX) by 1.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,439 shares of the medical research company’s stock after selling 217 shares during the quarter. Roberts Glore & Co. Inc. IL’s holdings in Quest Diagnostics were worth $2,178,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sierra Ocean LLC purchased a new position in shares of Quest Diagnostics in the 4th quarter valued at approximately $33,000. Versant Capital Management Inc increased its holdings in Quest Diagnostics by 340.4% in the 4th quarter. Versant Capital Management Inc now owns 251 shares of the medical research company’s stock worth $38,000 after buying an additional 194 shares during the period. First Financial Corp IN acquired a new position in Quest Diagnostics in the 4th quarter worth approximately $38,000. FPC Investment Advisory Inc. acquired a new position in Quest Diagnostics in the 4th quarter worth approximately $45,000. Finally, Global Trust Asset Management LLC acquired a new position in Quest Diagnostics in the 4th quarter worth approximately $49,000. 88.06% of the stock is owned by hedge funds and other institutional investors.

Quest Diagnostics Price Performance

Quest Diagnostics stock opened at $175.49 on Friday. The company’s fifty day moving average price is $161.74 and its 200 day moving average price is $157.60. Quest Diagnostics Incorporated has a 1 year low of $125.09 and a 1 year high of $178.09. The stock has a market capitalization of $19.48 billion, a P/E ratio of 22.82, a P/E/G ratio of 2.16 and a beta of 0.92. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.02 and a current ratio of 1.10.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings results on Thursday, January 30th. The medical research company reported $2.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.19 by $0.04. Quest Diagnostics had a net margin of 8.80% and a return on equity of 15.07%. As a group, equities research analysts anticipate that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal year.

Quest Diagnostics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be paid a $0.80 dividend. The ex-dividend date is Monday, April 7th. This represents a $3.20 dividend on an annualized basis and a yield of 1.82%. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.75. Quest Diagnostics’s dividend payout ratio (DPR) is currently 41.61%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on DGX. Truist Financial increased their price target on shares of Quest Diagnostics from $172.00 to $182.00 and gave the stock a “hold” rating in a report on Friday, January 31st. Citigroup downgraded 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. JPMorgan Chase & Co. increased their price target on shares of Quest Diagnostics from $173.00 to $180.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Piper Sandler reiterated a “neutral” rating and issued a $180.00 price target (up previously from $165.00) on shares of Quest Diagnostics in a report on Monday, February 3rd. Finally, Barclays raised their price objective on shares of Quest Diagnostics from $168.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Eight equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $178.23.

Insider Activity at Quest Diagnostics

In other Quest Diagnostics news, EVP Catherine T. Doherty sold 5,370 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $174.13, for a total value of $935,078.10. Following the transaction, the executive vice president now owns 68,068 shares in the company, valued at approximately $11,852,680.84. This trade represents a 7.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Vicky B. Gregg sold 1,250 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $164.57, for a total value of $205,712.50. Following the completion of the transaction, the director now owns 16,867 shares in the company, valued at $2,775,802.19. The trade was a 6.90 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,514 shares of company stock valued at $1,634,445. 0.79% of the stock is owned by company insiders.

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.