Berkshire Asset Management LLC PA Acquires New Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

Berkshire Asset Management LLC PA bought a new position in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,460 shares of the medical research company's stock, valued at approximately $227,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Edgestream Partners L.P. bought a new stake in shares of Quest Diagnostics during the 4th quarter worth $4,178,000. Ashton Thomas Private Wealth LLC acquired a new position in Quest Diagnostics during the 4th quarter worth $630,000. Callan Family Office LLC bought a new stake in Quest Diagnostics during the fourth quarter valued at about $204,000. E Fund Management Co. Ltd. grew its position in shares of Quest Diagnostics by 74.1% in the fourth quarter. E Fund Management Co. Ltd. now owns 2,366 shares of the medical research company's stock valued at $357,000 after purchasing an additional 1,007 shares during the last quarter. Finally, Candriam S.C.A. increased its stake in shares of Quest Diagnostics by 15.0% in the fourth quarter. Candriam S.C.A. now owns 167,710 shares of the medical research company's stock worth $25,301,000 after purchasing an additional 21,881 shares during the period. Institutional investors own 88.06% of the company's stock.

Insider Activity

In other Quest Diagnostics news, EVP Catherine T. Doherty sold 5,370 shares of Quest Diagnostics 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 completion of the transaction, the executive vice president now owns 68,068 shares in the company, valued at approximately $11,852,680.84. The trade was a 7.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Vicky B. Gregg sold 1,250 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $164.57, for a total value of $205,712.50. Following the sale, 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. Over the last 90 days, insiders sold 9,514 shares of company stock worth $1,634,445. Insiders own 0.79% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Truist Financial increased their target price on Quest Diagnostics from $172.00 to $182.00 and gave the company a "hold" rating in a research note on Friday, January 31st. Mizuho increased their price objective on Quest Diagnostics from $177.00 to $178.00 and gave the company an "outperform" rating in a research report on Monday, February 3rd. Piper Sandler reaffirmed a "neutral" rating and set a $180.00 target price (up previously from $165.00) on shares of Quest Diagnostics in a research report on Monday, February 3rd. StockNews.com cut shares of Quest Diagnostics from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. raised their price target on shares of Quest Diagnostics from $173.00 to $180.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. Eight equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $178.23.

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Quest Diagnostics Stock Up 2.2 %

NYSE DGX opened at $175.49 on Friday. The stock's 50 day moving average is $161.74 and its two-hundred day moving average is $157.56. Quest Diagnostics Incorporated has a 1-year low of $125.09 and a 1-year high of $178.09. The company has a market capitalization of $19.48 billion, a price-to-earnings ratio of 22.82, a PEG ratio of 2.16 and a beta of 0.92. The company has a current ratio of 1.10, a quick ratio of 1.02 and a debt-to-equity ratio of 0.82.

Quest Diagnostics (NYSE:DGX - Get Free Report) last issued its earnings results on Thursday, January 30th. The medical research company reported $2.23 EPS for the quarter, beating the consensus estimate of $2.19 by $0.04. Quest Diagnostics had a net margin of 8.80% and a return on equity of 15.07%. Equities analysts forecast that Quest Diagnostics Incorporated will post 9.7 earnings per share 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. Stockholders of record on Monday, April 7th will be issued a dividend of $0.80 per share. This is a positive change from Quest Diagnostics's previous quarterly dividend of $0.75. The ex-dividend date is Monday, April 7th. This represents a $3.20 annualized dividend and a dividend yield of 1.82%. Quest Diagnostics's dividend payout ratio (DPR) is presently 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.

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