Jericho Financial LLP Makes New $590,000 Investment in Quest Diagnostics Incorporated (NYSE:DGX)

Jericho Financial LLP acquired a new stake in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,910 shares of the medical research company's stock, valued at approximately $590,000.

Other hedge funds have also added to or reduced their stakes in the company. Landscape Capital Management L.L.C. acquired a new stake in shares of Quest Diagnostics during the third quarter worth $1,363,000. Natixis Advisors LLC boosted its position in shares of Quest Diagnostics by 7.7% during the 3rd quarter. Natixis Advisors LLC now owns 92,830 shares of the medical research company's stock worth $14,412,000 after purchasing an additional 6,619 shares in the last quarter. Sanctuary Advisors LLC grew its stake in shares of Quest Diagnostics by 85.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 17,969 shares of the medical research company's stock valued at $2,940,000 after buying an additional 8,282 shares during the period. BankPlus Wealth Management LLC acquired a new stake in Quest Diagnostics in the fourth quarter valued at approximately $355,000. Finally, Icon Wealth Advisors LLC raised its position in shares of Quest Diagnostics by 8,669.8% during the third quarter. Icon Wealth Advisors LLC now owns 62,178 shares of the medical research company's stock worth $9,653,000 after purchasing an additional 61,469 shares during the period. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Quest Diagnostics Price Performance

DGX traded up $0.02 during trading on Friday, reaching $162.66. 499,450 shares of the company were exchanged, compared to its average volume of 1,053,881. 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 company has a market cap of $18.15 billion, a price-to-earnings ratio of 21.15, a P/E/G ratio of 2.04 and a beta of 0.91. Quest Diagnostics Incorporated has a 12-month low of $123.30 and a 12-month high of $167.08. The company's 50-day moving average is $155.44 and its two-hundred day moving average is $154.17.

Quest Diagnostics (NYSE:DGX - Get Free Report) last posted its earnings results on Thursday, January 30th. The medical research company reported $2.23 earnings per share (EPS) 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%. Research analysts forecast that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal year.

Quest Diagnostics Increases Dividend

The firm also recently declared 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. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Monday, April 7th. This is an increase from Quest Diagnostics's previous quarterly dividend of $0.75. Quest Diagnostics's dividend payout ratio (DPR) is 39.01%.

Wall Street Analysts Forecast Growth

DGX has been the subject of a number of recent research reports. Mizuho boosted their price objective on Quest Diagnostics from $177.00 to $178.00 and gave the stock an "outperform" rating in a report on Monday, February 3rd. Citigroup increased their price target on Quest Diagnostics from $165.00 to $185.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. upped their target price on shares of Quest Diagnostics from $173.00 to $180.00 and gave the stock a "neutral" rating in a research note on Tuesday. Baird R W raised shares of Quest Diagnostics from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 23rd. Finally, Truist Financial upped their price objective on shares of Quest Diagnostics from $172.00 to $182.00 and gave the stock a "hold" rating in a research report on Friday, January 31st. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Quest Diagnostics currently has an average rating of "Moderate Buy" and a consensus target price of $177.69.

Insider Buying and Selling

In other news, Director Vicky B. Gregg sold 1,250 shares of the company's stock in a transaction on Wednesday, February 5th. The shares were 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 of the company's stock, valued at approximately $2,775,802.19. This represents a 6.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Mark E. Delaney sold 403 shares of the company's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $164.30, for a total transaction of $66,212.90. Following the sale, the senior vice president now owns 4,624 shares of the company's stock, 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. 0.79% of the stock is owned by company 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.