MGO One Seven LLC purchased a new stake in Quest Diagnostics Incorporated (NYSE:DGX – Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,674 shares of the medical research company’s stock, valued at approximately $237,000.
Several other hedge funds and other institutional investors have also made changes to their positions in DGX. Sandy Spring Bank lifted its stake in Quest Diagnostics by 100.0% in the fourth quarter. Sandy Spring Bank now owns 200 shares of the medical research company’s stock valued at $31,000 after buying an additional 100 shares during the period. New England Capital Financial Advisors LLC bought a new position in Quest Diagnostics during the 4th quarter worth approximately $45,000. Thompson Siegel & Walmsley LLC acquired a new position in Quest Diagnostics during the fourth quarter valued at approximately $46,000. Compagnie Lombard Odier SCmA bought a new stake in Quest Diagnostics in the fourth quarter valued at approximately $46,000. Finally, Brown Brothers Harriman & Co. raised its holdings in Quest Diagnostics by 324.7% in the fourth quarter. Brown Brothers Harriman & Co. now owns 310 shares of the medical research company’s stock worth $48,000 after purchasing an additional 237 shares during the period. 87.39% of the stock is currently owned by institutional investors.
Quest Diagnostics Stock Performance
Shares of DGX stock opened at $132.36 on Thursday. The firm has a market cap of $14.86 billion, a PE ratio of 19.27 and a beta of 0.95. Quest Diagnostics Incorporated has a 12 month low of $120.40 and a 12 month high of $158.34. The company’s fifty day simple moving average is $138.29 and its 200-day simple moving average is $138.82. The company has a quick ratio of 0.83, a current ratio of 0.92 and a debt-to-equity ratio of 0.60.
Quest Diagnostics Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, October 23rd. Investors of record on Friday, October 6th will be paid a $0.71 dividend. The ex-dividend date is Thursday, October 5th. This represents a $2.84 annualized dividend and a dividend yield of 2.15%. Quest Diagnostics’s dividend payout ratio is presently 41.34%.
Wall Street Analyst Weigh In
DGX has been the subject of several research analyst reports. StockNews.com began coverage on shares of Quest Diagnostics in a report on Thursday. They issued a “hold” rating for the company. Morgan Stanley reaffirmed an “equal weight” rating and set a $145.00 price target on shares of Quest Diagnostics in a research report on Thursday, August 3rd. Bank of America lowered Quest Diagnostics from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $166.00 to $148.00 in a research report on Tuesday, May 2nd. Finally, Piper Sandler began coverage on shares of Quest Diagnostics in a research note on Thursday, June 29th. They issued a “neutral” rating on the stock. Ten investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $149.90.
Read Our Latest Stock Report on DGX
About Quest Diagnostics
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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