MOKAN Wealth Management Inc. Takes $545,000 Position in Quest Diagnostics Incorporated (NYSE:DGX)

MOKAN Wealth Management Inc. purchased a new position in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,609 shares of the medical research company's stock, valued at approximately $545,000.

Several other institutional investors have also made changes to their positions in the stock. State Street Corp boosted its holdings in shares of Quest Diagnostics by 1.4% during the third quarter. State Street Corp now owns 5,263,231 shares of the medical research company's stock worth $817,117,000 after purchasing an additional 70,578 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Quest Diagnostics by 1.5% during the third quarter. Geode Capital Management LLC now owns 2,616,653 shares of the medical research company's stock worth $404,838,000 after purchasing an additional 39,217 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in Quest Diagnostics by 2.1% in the third quarter. DekaBank Deutsche Girozentrale now owns 748,680 shares of the medical research company's stock valued at $115,621,000 after acquiring an additional 15,047 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in Quest Diagnostics by 25.4% in the third quarter. BNP Paribas Financial Markets now owns 747,298 shares of the medical research company's stock valued at $116,018,000 after acquiring an additional 151,365 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Quest Diagnostics by 1.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 708,100 shares of the medical research company's stock valued at $109,933,000 after acquiring an additional 12,565 shares during the last quarter. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Quest Diagnostics Price Performance

Shares of NYSE:DGX traded down $0.46 on Thursday, hitting $171.29. The stock had a trading volume of 98,783 shares, compared to its average volume of 1,012,019. The firm's 50 day moving average price is $156.89 and its 200-day moving average price is $155.57. The company has a market capitalization of $19.12 billion, a price-to-earnings ratio of 22.32, a price-to-earnings-growth ratio of 2.13 and a beta of 0.91. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.02 and a current ratio of 1.10. Quest Diagnostics Incorporated has a twelve month low of $123.30 and a twelve month high of $172.64.

Quest Diagnostics (NYSE:DGX - Get Free Report) last issued its quarterly 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%. On average, equities research analysts predict that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current year.

Quest Diagnostics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors 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 of this dividend is Monday, April 7th. This represents a $3.20 annualized dividend and a yield of 1.87%. Quest Diagnostics's dividend payout ratio is 39.01%.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Citigroup lifted their target price on shares of Quest Diagnostics from $165.00 to $185.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Robert W. Baird raised shares of Quest Diagnostics from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $157.00 to $182.00 in a research report on Wednesday, October 23rd. Jefferies Financial Group reaffirmed a "buy" rating and set a $185.00 target price (up previously from $175.00) on shares of Quest Diagnostics in a research report on Tuesday, December 10th. JPMorgan Chase & Co. boosted their target price on shares of Quest Diagnostics from $173.00 to $180.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. Finally, Truist Financial boosted their target price 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 research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $177.69.

Insider Buying and Selling at Quest Diagnostics

In other Quest Diagnostics news, Director Vicky B. Gregg sold 1,250 shares of the company's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $164.57, for a total transaction of $205,712.50. Following the transaction, the director now directly owns 16,867 shares in the company, valued at approximately $2,775,802.19. This represents a 6.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction, 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. Corporate insiders own 0.79% of the company's stock.

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.