Landscape Capital Management L.L.C. Increases Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

Landscape Capital Management L.L.C. raised its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 47.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,969 shares of the medical research company’s stock after acquiring an additional 4,188 shares during the period. Landscape Capital Management L.L.C.’s holdings in Quest Diagnostics were worth $1,957,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Sanctuary Advisors LLC grew its holdings in shares of Quest Diagnostics by 85.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 17,969 shares of the medical research company’s stock valued at $2,940,000 after purchasing an additional 8,282 shares during the last quarter. BankPlus Wealth Management LLC bought a new position in shares of Quest Diagnostics during the fourth quarter valued at about $355,000. Van ECK Associates Corp increased its holdings in shares of Quest Diagnostics by 980.3% in the fourth quarter. Van ECK Associates Corp now owns 24,198 shares of the medical research company’s stock worth $3,650,000 after buying an additional 21,958 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Quest Diagnostics in the 4th quarter valued at about $54,000. Finally, Clean Yield Group boosted its holdings in Quest Diagnostics by 17.7% during the 4th quarter. Clean Yield Group now owns 26,428 shares of the medical research company’s stock valued at $3,987,000 after acquiring an additional 3,983 shares during the period. 88.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on DGX shares. Barclays lifted their price target on Quest Diagnostics from $168.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. UBS Group increased their price target on shares of Quest Diagnostics from $166.00 to $170.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Truist Financial boosted their price objective on shares of Quest Diagnostics from $172.00 to $182.00 and gave the company a “hold” rating in a research report on Friday, January 31st. Redburn Atlantic assumed coverage on shares of Quest Diagnostics in a report on Wednesday. They set a “buy” rating and a $195.00 target price for the company. Finally, JPMorgan Chase & Co. boosted their price target on Quest Diagnostics from $173.00 to $180.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $179.57.

Insider Transactions at Quest Diagnostics

In other news, CEO J. E. Davis sold 39,191 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $168.46, for a total value of $6,602,115.86. Following the transaction, the chief executive officer now owns 127,623 shares in the company, valued at approximately $21,499,370.58. This represents a 23.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Karthik Kuppusamy sold 2,555 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $170.00, for a total transaction of $434,350.00. Following the sale, the senior vice president now directly owns 10,575 shares of the company’s stock, valued at $1,797,750. This trade represents a 19.46 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,903 shares of company stock valued at $9,460,221. Insiders own 0.79% of the company’s stock.

Quest Diagnostics Stock Performance

Shares of DGX stock opened at $164.08 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.02 and a debt-to-equity ratio of 0.82. The company’s fifty day moving average price is $168.21 and its 200-day moving average price is $159.49. The stock has a market cap of $18.21 billion, a PE ratio of 21.34, a price-to-earnings-growth ratio of 2.16 and a beta of 0.78. Quest Diagnostics Incorporated has a 12 month low of $125.42 and a 12 month high of $178.87.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings data on Thursday, January 30th. The medical research company reported $2.23 earnings per share for the quarter, topping 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%. On average, equities analysts expect that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.95%. This is an increase from Quest Diagnostics’s previous quarterly dividend of $0.75. The ex-dividend date is Monday, April 7th. Quest Diagnostics’s payout ratio is 41.61%.

Quest Diagnostics Company 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.