Van ECK Associates Corp Purchases 21,958 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

Van ECK Associates Corp raised its stake in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 980.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 24,198 shares of the medical research company's stock after buying an additional 21,958 shares during the period. Van ECK Associates Corp's holdings in Quest Diagnostics were worth $3,650,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Lester Murray Antman dba SimplyRich boosted its position in shares of Quest Diagnostics by 7.4% during the 4th quarter. Lester Murray Antman dba SimplyRich now owns 2,103 shares of the medical research company's stock valued at $317,000 after purchasing an additional 144 shares in the last quarter. Kentucky Trust Co acquired a new position in Quest Diagnostics during the 4th quarter worth approximately $227,000. Essex Financial Services Inc. raised its stake in Quest Diagnostics by 6.1% during the 4th quarter. Essex Financial Services Inc. now owns 2,287 shares of the medical research company's stock worth $345,000 after buying an additional 131 shares during the period. Savant Capital LLC raised its stake in Quest Diagnostics by 380.8% during the 4th quarter. Savant Capital LLC now owns 11,953 shares of the medical research company's stock worth $1,803,000 after buying an additional 9,467 shares during the period. Finally, WCM Investment Management LLC raised its stake in Quest Diagnostics by 86.9% during the 4th quarter. WCM Investment Management LLC now owns 3,542 shares of the medical research company's stock worth $535,000 after buying an additional 1,647 shares during the period. Institutional investors own 88.06% of the company's stock.

Insider Buying and Selling at Quest Diagnostics

In related news, Director Vicky B. Gregg sold 1,250 shares of the company'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 sale, the director now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Mark E. Delaney sold 403 shares of the stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 4,624 shares of the company's stock, valued at approximately $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 owned by company insiders.

Quest Diagnostics Price Performance

NYSE:DGX traded down $0.24 during trading hours on Friday, reaching $171.90. 302,019 shares of the company were exchanged, compared to its average volume of 1,022,813. The company has a current ratio of 1.10, a quick ratio of 1.02 and a debt-to-equity ratio of 0.82. The stock's 50-day moving average is $157.21 and its 200-day moving average is $155.68. The firm has a market cap of $19.19 billion, a PE ratio of 22.35, a price-to-earnings-growth ratio of 2.15 and a beta of 0.91. Quest Diagnostics Incorporated has a twelve month low of $123.66 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, sell-side analysts anticipate that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal year.

Quest Diagnostics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be paid a $0.80 dividend. 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 1.86%. Quest Diagnostics's payout ratio is presently 39.01%.

Analyst Ratings Changes

DGX has been the subject of several research reports. Morgan Stanley raised Quest Diagnostics from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $145.00 to $172.00 in a report on Tuesday, December 17th. Jefferies Financial Group restated a "buy" rating and set a $185.00 price target (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 note on Thursday, February 6th. UBS Group raised their target price on Quest Diagnostics from $166.00 to $170.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. Finally, Mizuho boosted their price target on Quest Diagnostics from $177.00 to $178.00 and gave the stock an "outperform" rating in a research report on Monday, February 3rd. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $177.69.

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.