Avantax Advisory Services Inc. Boosts Stock Position in Quest Diagnostics Incorporated (NYSE:DGX)

Avantax Advisory Services Inc. boosted its position in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 97.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,455 shares of the medical research company's stock after purchasing an additional 4,164 shares during the period. Avantax Advisory Services Inc.'s holdings in Quest Diagnostics were worth $1,275,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Sierra Ocean LLC purchased a new position in Quest Diagnostics in the fourth quarter valued at approximately $33,000. Versant Capital Management Inc lifted its stake in Quest Diagnostics by 340.4% in the fourth quarter. Versant Capital Management Inc now owns 251 shares of the medical research company's stock valued at $38,000 after purchasing an additional 194 shares during the last quarter. First Financial Corp IN purchased a new position in Quest Diagnostics in the fourth quarter valued at approximately $38,000. FPC Investment Advisory Inc. purchased a new position in Quest Diagnostics in the fourth quarter valued at approximately $45,000. Finally, Global Trust Asset Management LLC purchased a new position in Quest Diagnostics in the fourth quarter valued at approximately $49,000. Hedge funds and other institutional investors own 88.06% of the company's stock.

Quest Diagnostics Price Performance

Shares of Quest Diagnostics stock traded up $0.50 during trading on Friday, hitting $166.96. The stock had a trading volume of 1,437,214 shares, compared to its average volume of 877,392. The firm has a market cap of $18.53 billion, a price-to-earnings ratio of 21.71, a P/E/G ratio of 2.16 and a beta of 0.92. Quest Diagnostics Incorporated has a 12 month low of $125.42 and a 12 month high of $178.87. The business's 50-day moving average is $165.18 and its 200 day moving average is $158.60. The company has a current ratio of 1.10, a quick ratio of 1.02 and a debt-to-equity ratio of 0.82.

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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 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%. As a group, sell-side analysts anticipate that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current year.

Quest Diagnostics Increases Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Monday, April 7th. This is a positive change from Quest Diagnostics's previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a yield of 1.92%. Quest Diagnostics's payout ratio is 41.61%.

Insider Buying and Selling

In related news, SVP Mark E. Delaney sold 403 shares of the company's stock in a transaction on Wednesday, February 5th. The shares were 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 in the company, valued at approximately $759,723.20. The trade was a 8.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, the director now owns 16,867 shares of the company's stock, valued at approximately $2,775,802.19. The trade was a 6.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,157 shares of company stock worth $2,423,755. Corporate insiders own 0.79% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DGX. StockNews.com cut shares of Quest Diagnostics from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Leerink Partnrs raised shares of Quest Diagnostics from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. Truist Financial boosted their target price on shares of Quest Diagnostics from $172.00 to $182.00 and gave the company a "hold" rating in a report on Friday, January 31st. Barclays boosted their target price on shares of Quest Diagnostics from $168.00 to $175.00 and gave the company an "equal weight" rating in a report on Friday, January 31st. Finally, Piper Sandler reissued a "neutral" rating and set a $180.00 target price (up previously from $165.00) on shares of Quest Diagnostics in a report on Monday, February 3rd. Eight investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Quest Diagnostics presently has a consensus rating of "Moderate Buy" and an average 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.