Ritholtz Wealth Management cut its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX – Free Report) by 34.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,160 shares of the medical research company’s stock after selling 1,666 shares during the period. Ritholtz Wealth Management’s holdings in Quest Diagnostics were worth $447,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. James Investment Research Inc. purchased a new stake in shares of Quest Diagnostics during the 4th quarter valued at $29,000. Sandy Spring Bank increased its position in shares of Quest Diagnostics by 100.0% during the 4th quarter. Sandy Spring Bank now owns 200 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 100 shares during the last quarter. Accurate Wealth Management LLC purchased a new stake in shares of Quest Diagnostics during the 4th quarter valued at $36,000. Centerpoint Advisors LLC increased its position in shares of Quest Diagnostics by 100.8% during the 4th quarter. Centerpoint Advisors LLC now owns 241 shares of the medical research company’s stock valued at $38,000 after purchasing an additional 121 shares during the last quarter. Finally, Lindbrook Capital LLC increased its position in shares of Quest Diagnostics by 33.3% during the 4th quarter. Lindbrook Capital LLC now owns 280 shares of the medical research company’s stock valued at $44,000 after purchasing an additional 70 shares during the last quarter. 87.39% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
DGX has been the subject of several research analyst reports. Truist Financial decreased their target price on Quest Diagnostics from $170.00 to $160.00 and set a “hold” rating for the company in a research report on Friday, March 17th. Piper Sandler started coverage on Quest Diagnostics in a research report on Thursday, June 29th. They set a “neutral” rating for the company. Citigroup raised Quest Diagnostics from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $125.00 to $142.00 in a report on Monday, April 3rd. Bank of America lowered Quest Diagnostics from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $166.00 to $148.00 in a report on Tuesday, May 2nd. Finally, Mizuho reissued a “buy” rating and issued a $165.00 price objective on shares of Quest Diagnostics in a report on Friday, March 17th. Ten equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $151.20.
Quest Diagnostics Stock Down 1.0 %
Quest Diagnostics (NYSE:DGX – Free Report) last issued its earnings results on Thursday, April 27th. The medical research company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.97 by $0.07. Quest Diagnostics had a return on equity of 16.51% and a net margin of 8.26%. The business had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter last year, the company earned $3.22 EPS. The firm’s revenue was down 10.7% compared to the same quarter last year. Research analysts anticipate that Quest Diagnostics Incorporated will post 8.69 earnings per share for the current fiscal year.
Quest Diagnostics Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 25th. Stockholders of record on Tuesday, July 11th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, July 10th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.04%. Quest Diagnostics’s dividend payout ratio (DPR) is presently 41.89%.
Quest Diagnostics Profile
Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic information services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.
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