Sanctuary Advisors LLC Raises Stock Position in Quest Diagnostics Incorporated (NYSE:DGX)

Sanctuary Advisors LLC increased its position in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 85.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,969 shares of the medical research company's stock after purchasing an additional 8,282 shares during the period. Sanctuary Advisors LLC's holdings in Quest Diagnostics were worth $2,940,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rothschild Investment LLC purchased a new position in Quest Diagnostics during the second quarter valued at $26,000. Larson Financial Group LLC grew its stake in Quest Diagnostics by 77.5% during the second quarter. Larson Financial Group LLC now owns 229 shares of the medical research company's stock valued at $31,000 after acquiring an additional 100 shares in the last quarter. Innealta Capital LLC purchased a new position in Quest Diagnostics during the second quarter valued at $31,000. EdgeRock Capital LLC purchased a new position in Quest Diagnostics during the second quarter valued at $35,000. Finally, Sunbelt Securities Inc. purchased a new position in Quest Diagnostics during the second quarter valued at $40,000. 88.06% of the stock is currently owned by institutional investors.

Quest Diagnostics Trading Down 2.7 %

DGX traded down $4.24 on Wednesday, reaching $151.25. 972,448 shares of the company traded hands, compared to its average volume of 914,632. Quest Diagnostics Incorporated has a one year low of $123.04 and a one year high of $165.32. The firm has a fifty day simple moving average of $156.82 and a two-hundred day simple moving average of $150.64. The company has a market cap of $16.88 billion, a P/E ratio of 20.33, a price-to-earnings-growth ratio of 2.69 and a beta of 0.89. The company has a quick ratio of 1.17, a current ratio of 1.25 and a debt-to-equity ratio of 0.83.

Quest Diagnostics (NYSE:DGX - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The medical research company reported $2.30 earnings per share for the quarter, beating analysts' consensus estimates of $2.26 by $0.04. Quest Diagnostics had a net margin of 8.82% and a return on equity of 15.25%. The company had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same quarter last year, the business posted $2.22 EPS. The firm's revenue for the quarter was up 8.5% on a year-over-year basis. As a group, equities research analysts expect that Quest Diagnostics Incorporated will post 8.9 earnings per share for the current year.

Quest Diagnostics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Tuesday, January 14th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, January 14th. This represents a $3.00 annualized dividend and a dividend yield of 1.98%. Quest Diagnostics's dividend payout ratio is currently 40.32%.

Insider Activity

In other news, SVP Karthik Kuppusamy sold 1,775 shares of the business's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $156.92, for a total value of $278,533.00. Following the completion of the sale, the senior vice president now owns 9,734 shares in the company, valued at approximately $1,527,459.28. The trade was a 15.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Michael J. Deppe sold 18,755 shares of the business's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $154.05, for a total transaction of $2,889,207.75. Following the completion of the sale, the chief accounting officer now owns 34,941 shares of the company's stock, valued at approximately $5,382,661.05. This represents a 34.93 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.79% of the company's stock.

Wall Street Analysts Forecast Growth

DGX has been the subject of several research analyst reports. Mizuho raised their target price on shares of Quest Diagnostics from $160.00 to $174.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Barclays lifted their price objective on shares of Quest Diagnostics from $154.00 to $168.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 23rd. Evercore ISI began coverage on shares of Quest Diagnostics in a research note on Wednesday, August 28th. They issued an "in-line" rating and a $165.00 price objective for the company. Piper Sandler lifted their price objective on shares of Quest Diagnostics from $150.00 to $165.00 and gave the stock a "neutral" rating in a research note on Monday, October 28th. Finally, Bank of America lifted their price objective on shares of Quest Diagnostics from $179.00 to $182.00 and gave the stock a "buy" rating in a research note on Friday, December 13th. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $169.15.

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.