Madison Investment Advisors LLC Takes Position in Quest Diagnostics Incorporated (NYSE:DGX)

Madison Investment Advisors LLC acquired a new position in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 7,817 shares of the medical research company's stock, valued at approximately $1,179,000.

Other hedge funds have also modified their holdings of the company. Thrivent Financial for Lutherans boosted its stake in shares of Quest Diagnostics by 98.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 18,967 shares of the medical research company's stock valued at $2,945,000 after buying an additional 9,396 shares during the period. Pathstone Holdings LLC lifted its stake in Quest Diagnostics by 4.5% in the third quarter. Pathstone Holdings LLC now owns 42,641 shares of the medical research company's stock worth $6,620,000 after acquiring an additional 1,820 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Quest Diagnostics during the 3rd quarter worth approximately $1,079,000. PNC Financial Services Group Inc. increased its position in shares of Quest Diagnostics by 4.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 36,441 shares of the medical research company's stock valued at $5,657,000 after purchasing an additional 1,509 shares during the last quarter. Finally, Landscape Capital Management L.L.C. acquired a new stake in shares of Quest Diagnostics in the 3rd quarter valued at $1,363,000. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Quest Diagnostics

In other news, EVP Catherine T. Doherty sold 5,370 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The shares were 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 of the company's stock, valued at $11,852,680.84. The trade was a 7.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Michael E. Prevoznik sold 4,643 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $170.00, for a total transaction of $789,310.00. Following the sale, the senior vice president now owns 38,117 shares in the company, valued at approximately $6,479,890. This trade represents a 10.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,157 shares of company stock valued at $2,423,755 over the last three months. 0.79% of the stock is currently owned by insiders.

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Quest Diagnostics Price Performance

Quest Diagnostics stock traded up $1.00 during trading hours on Wednesday, hitting $166.66. The stock had a trading volume of 573,843 shares, compared to its average volume of 876,544. The stock has a market capitalization of $18.50 billion, a price-to-earnings ratio of 21.67, a PEG ratio of 2.16 and a beta of 0.92. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.10 and a quick ratio of 1.02. Quest Diagnostics Incorporated has a 1-year low of $125.42 and a 1-year high of $178.87. The stock's fifty day moving average is $165.70 and its two-hundred day moving average is $158.82.

Quest Diagnostics (NYSE:DGX - Get Free Report) last announced its earnings results on Thursday, January 30th. The medical research company reported $2.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 predict that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal year.

Quest Diagnostics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be given a dividend of $0.80 per share. This is an increase 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 yield of 1.92%. Quest Diagnostics's dividend payout ratio (DPR) is presently 41.61%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Leerink Partnrs raised Quest Diagnostics from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. Jefferies Financial Group restated a "buy" rating and set a $185.00 price objective (up previously from $175.00) on shares of Quest Diagnostics in a research report on Tuesday, December 10th. StockNews.com cut Quest Diagnostics from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Piper Sandler reissued a "neutral" rating and issued a $180.00 target price (up from $165.00) on shares of Quest Diagnostics in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. raised their price target on Quest Diagnostics from $173.00 to $180.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 4th. Eight investment 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 company's stock. Based on data from MarketBeat.com, Quest Diagnostics has an average rating of "Moderate Buy" and a consensus target price of $178.38.

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.