Mirae Asset Global Investments Co. Ltd. Increases Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

Mirae Asset Global Investments Co. Ltd. grew its position in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 27.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,229 shares of the medical research company's stock after acquiring an additional 2,884 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Quest Diagnostics were worth $2,015,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brooklyn Investment Group grew its stake in shares of Quest Diagnostics by 5.5% in the fourth quarter. Brooklyn Investment Group now owns 1,315 shares of the medical research company's stock valued at $198,000 after buying an additional 68 shares in the last quarter. Avestar Capital LLC boosted its holdings in Quest Diagnostics by 1.1% in the third quarter. Avestar Capital LLC now owns 6,288 shares of the medical research company's stock valued at $976,000 after purchasing an additional 71 shares during the period. Mather Group LLC. boosted its holdings in Quest Diagnostics by 10.4% in the fourth quarter. Mather Group LLC. now owns 764 shares of the medical research company's stock valued at $115,000 after purchasing an additional 72 shares during the period. Empirical Finance LLC boosted its holdings in Quest Diagnostics by 2.0% in the third quarter. Empirical Finance LLC now owns 3,948 shares of the medical research company's stock valued at $613,000 after purchasing an additional 76 shares during the period. Finally, Spire Wealth Management boosted its holdings in Quest Diagnostics by 8.0% in the fourth quarter. Spire Wealth Management now owns 1,139 shares of the medical research company's stock valued at $172,000 after purchasing an additional 84 shares during the period. Hedge funds and other institutional investors own 88.06% of the company's stock.

Quest Diagnostics Stock Performance

Shares of DGX traded up $0.25 during midday trading on Friday, reaching $168.97. 1,327,130 shares of the stock were exchanged, compared to its average volume of 1,028,481. The business's 50-day moving average price is $155.90 and its 200 day moving average price is $154.80. 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 twelve month low of $123.30 and a twelve month high of $171.30. The company has a market capitalization of $18.86 billion, a price-to-earnings ratio of 21.97, a PEG ratio of 2.04 and a beta of 0.91.

Quest Diagnostics (NYSE:DGX - Get Free Report) last posted its earnings results on Thursday, January 30th. The medical research company reported $2.23 EPS for the quarter, topping analysts' consensus estimates of $2.19 by $0.04. Quest Diagnostics had a return on equity of 15.07% and a net margin of 8.80%. On average, sell-side analysts expect that Quest Diagnostics Incorporated will post 9.7 EPS 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. Investors of record on Monday, April 7th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.89%. 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. Quest Diagnostics's payout ratio is 39.01%.

Insider Activity at Quest Diagnostics

In other Quest Diagnostics news, Director Vicky B. Gregg sold 1,250 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $164.57, for a total transaction of $205,712.50. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Mark E. Delaney sold 403 shares of the business's stock in a transaction that occurred 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 in the company, valued at $759,723.20. The trade was a 8.02 % decrease in their position. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on DGX. Robert W. Baird upgraded Quest Diagnostics from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $157.00 to $182.00 in a report on Wednesday, October 23rd. UBS Group lifted their price target on Quest Diagnostics from $166.00 to $170.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Citigroup lifted their price target on Quest Diagnostics from $165.00 to $185.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Baird R W raised Quest Diagnostics from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 23rd. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $185.00 price target (up from $175.00) on shares of Quest Diagnostics in a report on Tuesday, December 10th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $177.69.

Quest Diagnostics 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.