Clean Yield Group Grows Stock Position in Quest Diagnostics Incorporated (NYSE:DGX)

Clean Yield Group boosted its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 17.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,428 shares of the medical research company's stock after purchasing an additional 3,983 shares during the quarter. Quest Diagnostics makes up 1.3% of Clean Yield Group's investment portfolio, making the stock its 25th biggest holding. Clean Yield Group's holdings in Quest Diagnostics were worth $3,987,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. Versant Capital Management Inc increased its stake in shares of Quest Diagnostics by 340.4% during the fourth quarter. Versant Capital Management Inc now owns 251 shares of the medical research company's stock worth $38,000 after buying an additional 194 shares during the period. Sunbelt Securities Inc. purchased a new stake in shares of Quest Diagnostics in the 2nd quarter valued at approximately $40,000. Quarry LP acquired a new stake in shares of Quest Diagnostics in the 2nd quarter valued at $74,000. Sentry Investment Management LLC purchased a new stake in shares of Quest Diagnostics during the 3rd quarter worth $82,000. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Quest Diagnostics by 250.2% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,089 shares of the medical research company's stock worth $169,000 after purchasing an additional 778 shares during the last quarter. Institutional investors and hedge funds own 88.06% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DGX. Jefferies Financial Group restated a "buy" rating and issued a $185.00 price target (up from $175.00) on shares of Quest Diagnostics in a research note on Tuesday, December 10th. Bank of America raised their target price on Quest Diagnostics from $179.00 to $182.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. Citigroup upped their price target on Quest Diagnostics from $165.00 to $185.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Robert W. Baird upgraded shares of Quest Diagnostics from a "neutral" rating to an "outperform" rating and increased their price target for the company from $157.00 to $182.00 in a research note on Wednesday, October 23rd. Finally, Morgan Stanley upgraded shares of Quest Diagnostics from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $145.00 to $172.00 in a research report on Tuesday, December 17th. Six analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $172.15.

Quest Diagnostics Stock Performance

DGX traded up $2.10 on Monday, hitting $153.89. 870,648 shares of the company traded hands, compared to its average volume of 716,032. Quest Diagnostics Incorporated has a 12-month low of $123.04 and a 12-month high of $165.32. The company has a 50 day moving average of $156.78 and a 200-day moving average of $152.38. The company has a quick ratio of 1.17, a current ratio of 1.25 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $17.18 billion, a PE ratio of 20.68, a PEG ratio of 2.68 and a beta of 0.90.

Quest Diagnostics (NYSE:DGX - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The medical research company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.26 by $0.04. Quest Diagnostics had a return on equity of 15.25% and a net margin of 8.82%. The business had revenue of $2.49 billion during the quarter, compared to analysts' expectations of $2.43 billion. During the same quarter in the prior year, the business earned $2.22 earnings per share. The company's quarterly revenue was up 8.5% compared to the same quarter last year. Sell-side analysts anticipate that Quest Diagnostics Incorporated will post 8.9 earnings per share for the current year.

Quest Diagnostics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Tuesday, January 14th will be issued a dividend of $0.75 per share. The ex-dividend date is Tuesday, January 14th. This represents a $3.00 annualized dividend and a yield of 1.95%. Quest Diagnostics's dividend payout ratio is currently 40.32%.

Insider Activity at Quest Diagnostics

In related news, CAO Michael J. Deppe sold 18,755 shares of the business's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $154.05, for a total transaction of $2,889,207.75. Following the sale, the chief accounting officer now owns 34,941 shares of the company's stock, valued at approximately $5,382,661.05. The trade was a 34.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Karthik Kuppusamy sold 1,775 shares of the company's stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $156.92, for a total transaction of $278,533.00. Following the transaction, the senior vice president now owns 9,734 shares in the company, valued at $1,527,459.28. The trade was a 15.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.79% of the stock is owned by insiders.

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.