Savant Capital LLC Boosts Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

Savant Capital LLC increased its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 380.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,953 shares of the medical research company's stock after purchasing an additional 9,467 shares during the period. Savant Capital LLC's holdings in Quest Diagnostics were worth $1,803,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC boosted its position in Quest Diagnostics by 18.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 6,178 shares of the medical research company's stock worth $959,000 after purchasing an additional 942 shares in the last quarter. Creative Planning boosted its holdings in Quest Diagnostics by 1.6% during the third quarter. Creative Planning now owns 11,592 shares of the medical research company's stock worth $1,800,000 after buying an additional 185 shares in the last quarter. Swedbank AB grew its position in Quest Diagnostics by 30.0% during the third quarter. Swedbank AB now owns 84,863 shares of the medical research company's stock valued at $13,175,000 after buying an additional 19,570 shares during the period. Kapitalo Investimentos Ltda purchased a new position in Quest Diagnostics in the third quarter valued at $201,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Quest Diagnostics by 2.4% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,339 shares of the medical research company's stock valued at $1,916,000 after buying an additional 289 shares in the last quarter. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Quest Diagnostics Price Performance

NYSE DGX traded up $0.25 during trading hours on Monday, hitting $168.97. 1,327,130 shares of the company's stock traded hands, compared to its average volume of 1,053,881. The company has a market capitalization of $18.86 billion, a PE ratio of 21.97, a PEG ratio of 2.04 and a beta of 0.91. 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 52-week low of $123.30 and a 52-week high of $171.30. The firm's 50-day moving average is $156.35 and its 200-day moving average is $155.31.

Quest Diagnostics (NYSE:DGX - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The medical research company reported $2.23 earnings per share (EPS) for the quarter, beating 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%. Equities analysts forecast 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. Stockholders of record on Monday, April 7th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.89%. 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. Quest Diagnostics's payout ratio is currently 39.01%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on DGX shares. Jefferies Financial Group restated a "buy" rating and set a $185.00 target price (up from $175.00) on shares of Quest Diagnostics in a research report on Tuesday, December 10th. Piper Sandler reissued a "neutral" rating and issued a $180.00 price objective (up from $165.00) on shares of Quest Diagnostics in a report on Monday, February 3rd. Robert W. Baird raised Quest Diagnostics from a "neutral" rating to an "outperform" rating and upped their target price for the stock from $157.00 to $182.00 in a research note on Wednesday, October 23rd. Barclays lifted their price target on shares of Quest Diagnostics from $168.00 to $175.00 and gave the company an "equal weight" rating in a research note on Friday, January 31st. Finally, Leerink Partners upgraded shares of Quest Diagnostics from a "market perform" rating to an "outperform" rating and upped their price objective for the stock from $169.00 to $174.00 in a research report on Monday, January 6th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $177.69.

Insider Activity

In other news, SVP Mark E. Delaney sold 403 shares of Quest Diagnostics stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $164.30, for a total transaction of $66,212.90. Following the sale, the senior vice president now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Vicky B. Gregg sold 1,250 shares of the company's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $164.57, for a total value of $205,712.50. Following the completion of the transaction, the director now owns 16,867 shares in the company, valued at $2,775,802.19. This represents a 6.90 % 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 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.