Quest Diagnostics Incorporated (NYSE:DGX) Shares Acquired by Flputnam Investment Management Co.

Flputnam Investment Management Co. increased its position in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 8.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,815 shares of the medical research company’s stock after acquiring an additional 141 shares during the period. Flputnam Investment Management Co.’s holdings in Quest Diagnostics were worth $274,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Quest Diagnostics by 14.5% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 10,657 shares of the medical research company’s stock worth $1,655,000 after purchasing an additional 1,346 shares in the last quarter. Janney Montgomery Scott LLC grew its position in Quest Diagnostics by 20.7% in the third quarter. Janney Montgomery Scott LLC now owns 16,348 shares of the medical research company’s stock worth $2,538,000 after buying an additional 2,805 shares during the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of Quest Diagnostics by 114.9% in the third quarter. Harbor Capital Advisors Inc. now owns 10,169 shares of the medical research company’s stock valued at $1,579,000 after buying an additional 5,436 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of Quest Diagnostics by 10.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 124,484 shares of the medical research company’s stock valued at $19,326,000 after acquiring an additional 12,083 shares during the last quarter. Finally, Forum Financial Management LP boosted its stake in shares of Quest Diagnostics by 5.4% during the 3rd quarter. Forum Financial Management LP now owns 1,940 shares of the medical research company’s stock worth $301,000 after acquiring an additional 100 shares in the last quarter. 88.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. UBS Group boosted their target price on Quest Diagnostics from $166.00 to $170.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Truist Financial boosted their price objective on Quest Diagnostics from $172.00 to $182.00 and gave the stock a “hold” rating in a report on Friday, January 31st. Bank of America raised their target price on shares of Quest Diagnostics from $179.00 to $182.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Robert W. Baird set a $189.00 price target on shares of Quest Diagnostics in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. raised their price objective on shares of Quest Diagnostics from $173.00 to $180.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Quest Diagnostics presently has a consensus rating of “Moderate Buy” and an average target price of $178.23.

Insider Buying and Selling

In related news, SVP Michael E. Prevoznik sold 528 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $172.61, for a total value of $91,138.08. Following the completion of the sale, the senior vice president now directly owns 39,031 shares in the company, valued at approximately $6,737,140.91. This represents a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Mark E. Delaney sold 403 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $164.30, for a total transaction of $66,212.90. Following the transaction, the senior vice president now directly owns 4,624 shares in the company, valued at $759,723.20. The trade was a 8.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,144 shares of company stock worth $699,367. Insiders own 0.79% of the company’s stock.

Quest Diagnostics Trading Up 2.3 %

Shares of NYSE:DGX opened at $176.81 on Tuesday. The firm has a fifty day moving average of $160.11 and a two-hundred day moving average of $157.02. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.82. Quest Diagnostics Incorporated has a 12-month low of $123.88 and a 12-month high of $178.09. The firm has a market capitalization of $19.62 billion, a P/E ratio of 22.99, a price-to-earnings-growth ratio of 2.16 and a beta of 0.91.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings data 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 return on equity of 15.07% and a net margin of 8.80%. On average, equities analysts expect that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.20 dividend on an annualized basis and a yield of 1.81%. This is an increase from Quest Diagnostics’s previous quarterly dividend of $0.75. Quest Diagnostics’s dividend payout ratio is currently 41.61%.

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.