Harvest Fund Management Co. Ltd Makes New $409,000 Investment in Quest Diagnostics Incorporated (NYSE:DGX)

Harvest Fund Management Co. Ltd bought a new stake in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,711 shares of the medical research company's stock, valued at approximately $409,000.

A number of other institutional investors and hedge funds have also bought and sold shares of DGX. Sierra Ocean LLC acquired a new stake in Quest Diagnostics during the 4th quarter worth approximately $33,000. Versant Capital Management Inc increased its holdings in Quest Diagnostics by 340.4% in the fourth quarter. Versant Capital Management Inc now owns 251 shares of the medical research company's stock valued at $38,000 after purchasing an additional 194 shares during the period. First Financial Corp IN bought a new position in Quest Diagnostics during the 4th quarter worth $38,000. FPC Investment Advisory Inc. acquired a new position in Quest Diagnostics during the 4th quarter worth about $45,000. Finally, Global Trust Asset Management LLC acquired a new stake in shares of Quest Diagnostics in the fourth quarter valued at about $49,000. Institutional investors and hedge funds own 88.06% of the company's stock.

Quest Diagnostics Stock Up 0.6 %

DGX traded up $1.00 during midday trading on Wednesday, reaching $166.66. 573,844 shares of the company were exchanged, compared to its average volume of 1,108,427. The company has a market cap of $18.50 billion, a price-to-earnings ratio of 21.67, a price-to-earnings-growth ratio of 2.16 and a beta of 0.92. Quest Diagnostics Incorporated has a one year low of $125.42 and a one year high of $178.87. The company's fifty day moving average price is $165.70 and its 200 day moving average price is $158.82. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.02 and a current ratio of 1.10.

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Quest Diagnostics (NYSE:DGX - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The medical research company reported $2.23 earnings per share for the quarter, topping 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%. As a group, analysts expect that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be given a dividend of $0.80 per share. The ex-dividend date is Monday, April 7th. This is a positive change from Quest Diagnostics's previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a dividend yield of 1.92%. Quest Diagnostics's dividend payout ratio (DPR) is currently 41.61%.

Analysts Set New Price Targets

DGX has been the topic of several analyst reports. UBS Group upped their target price on Quest Diagnostics from $166.00 to $170.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Leerink Partnrs upgraded shares of Quest Diagnostics from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. Truist Financial boosted their target price on shares of Quest Diagnostics from $172.00 to $182.00 and gave the company a "hold" rating in a report on Friday, January 31st. Morgan Stanley raised shares of Quest Diagnostics from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $145.00 to $172.00 in a research report on Tuesday, December 17th. Finally, Barclays boosted their price objective on Quest Diagnostics from $168.00 to $175.00 and gave the company an "equal weight" rating in a research note on Friday, January 31st. Eight analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Quest Diagnostics presently has a consensus rating of "Moderate Buy" and a consensus target price of $178.38.

Insider Buying and Selling

In other Quest Diagnostics news, EVP Catherine T. Doherty sold 5,370 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $174.13, for a total transaction of $935,078.10. Following the sale, the executive vice president now owns 68,068 shares of the company's stock, valued at $11,852,680.84. The trade was a 7.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Mark E. Delaney sold 403 shares of the business's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $164.30, for a total value of $66,212.90. Following the sale, the senior vice president now owns 4,624 shares in the company, valued at approximately $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. In the last ninety days, insiders have sold 14,157 shares of company stock valued at $2,423,755. 0.79% of the stock is owned by insiders.

Quest Diagnostics Company Profile

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.