Dynamic Technology Lab Private Ltd Purchases 6,846 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

Dynamic Technology Lab Private Ltd raised its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 175.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,750 shares of the medical research company's stock after acquiring an additional 6,846 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in Quest Diagnostics were worth $1,622,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Sierra Ocean LLC purchased a new position in Quest Diagnostics during the fourth quarter valued at $33,000. Versant Capital Management Inc lifted its position in shares of Quest Diagnostics by 340.4% during the 4th quarter. Versant Capital Management Inc now owns 251 shares of the medical research company's stock valued at $38,000 after buying an additional 194 shares in the last quarter. First Financial Corp IN bought a new position in shares of Quest Diagnostics during the 4th quarter valued at approximately $38,000. FPC Investment Advisory Inc. purchased a new stake in Quest Diagnostics in the 4th quarter worth approximately $45,000. Finally, Global Trust Asset Management LLC bought a new stake in Quest Diagnostics during the 4th quarter worth approximately $49,000. Institutional investors own 88.06% of the company's stock.

Analysts Set New Price Targets

DGX has been the subject of a number of analyst reports. Truist Financial increased their price objective on shares of Quest Diagnostics from $172.00 to $182.00 and gave the stock a "hold" rating in a research note on Friday, January 31st. Morgan Stanley raised Quest Diagnostics from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $145.00 to $172.00 in a report on Tuesday, December 17th. Piper Sandler reiterated 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. Barclays boosted their price target on Quest Diagnostics from $168.00 to $175.00 and gave the stock an "equal weight" rating in a report on Friday, January 31st. Finally, Bank of America lifted their price objective on shares of Quest Diagnostics from $179.00 to $182.00 and gave the company a "buy" rating in a research report on Friday, December 13th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Quest Diagnostics presently has an average rating of "Moderate Buy" and an average target price of $181.33.

Insider Activity at Quest Diagnostics

In other Quest Diagnostics news, SVP Mark E. Delaney sold 403 shares of the company's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $164.30, for a total value of $66,212.90. Following the transaction, the senior vice president now owns 4,624 shares of the company's stock, valued at $759,723.20. This represents a 8.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available 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 completion of the sale, the director now owns 16,867 shares in the company, valued at approximately $2,775,802.19. The trade was a 6.90 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,903 shares of company stock worth $9,460,221. Insiders own 0.79% of the company's stock.

Quest Diagnostics Trading Up 0.1 %

NYSE DGX traded up $0.22 during trading hours on Thursday, hitting $164.28. 783,983 shares of the company were exchanged, compared to its average volume of 940,239. Quest Diagnostics Incorporated has a 52 week low of $125.42 and a 52 week high of $178.87. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.82. The stock has a 50-day moving average price of $168.48 and a 200 day moving average price of $159.77. The stock has a market cap of $18.23 billion, a PE ratio of 21.36, a price-to-earnings-growth ratio of 2.16 and a beta of 0.78.

Quest Diagnostics (NYSE:DGX - Get Free Report) last released its earnings results on Thursday, January 30th. The medical research company reported $2.23 earnings per share for the quarter, beating the consensus estimate of $2.19 by $0.04. Quest Diagnostics had a return on equity of 15.07% and a net margin of 8.80%. 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 declared a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, April 7th. This is a boost from Quest Diagnostics's previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.95%. Quest Diagnostics's 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.