SGL Investment Advisors Inc. Invests $4.17 Million in Quest Diagnostics Incorporated (NYSE:DGX)

SGL Investment Advisors Inc. acquired a new stake in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 26,570 shares of the medical research company's stock, valued at approximately $4,167,000. Quest Diagnostics makes up about 2.1% of SGL Investment Advisors Inc.'s investment portfolio, making the stock its 19th largest position.

Several other institutional investors also recently bought and sold shares of the business. Mizuho Securities USA LLC lifted its holdings in shares of Quest Diagnostics by 5,168.5% during the 3rd quarter. Mizuho Securities USA LLC now owns 451,403 shares of the medical research company's stock valued at $70,080,000 after purchasing an additional 442,835 shares during the last quarter. Van Lanschot Kempen Investment Management N.V. acquired a new stake in Quest Diagnostics in the second quarter worth about $48,783,000. Wedge Capital Management L L P NC grew its stake in shares of Quest Diagnostics by 601.7% during the second quarter. Wedge Capital Management L L P NC now owns 277,561 shares of the medical research company's stock worth $37,993,000 after acquiring an additional 238,007 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Quest Diagnostics by 222.0% during the second quarter. Point72 Asset Management L.P. now owns 299,740 shares of the medical research company's stock valued at $41,028,000 after acquiring an additional 206,640 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new stake in Quest Diagnostics in the 2nd quarter worth approximately $22,049,000. 88.06% of the stock is owned by hedge funds and other institutional investors.

Quest Diagnostics Price Performance

Shares of DGX stock traded up $0.91 during trading hours on Monday, hitting $158.26. 524,272 shares of the company's stock were exchanged, compared to its average volume of 912,354. Quest Diagnostics Incorporated has a fifty-two week low of $123.04 and a fifty-two week high of $165.32. The firm has a market cap of $17.66 billion, a P/E ratio of 21.42, a P/E/G ratio of 2.72 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. The firm has a 50 day moving average of $156.24 and a two-hundred day moving average of $149.87.

Quest Diagnostics (NYSE:DGX - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The medical research company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.04. Quest Diagnostics had a return on equity of 15.25% and a net margin of 8.82%. The company had revenue of $2.49 billion for the quarter, compared to analysts' expectations of $2.43 billion. During the same period in the previous year, the firm posted $2.22 EPS. Quest Diagnostics's revenue was up 8.5% compared to the same quarter last year. Sell-side analysts forecast that Quest Diagnostics Incorporated will post 8.9 EPS for the current year.

Quest Diagnostics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Tuesday, January 14th will be issued a $0.75 dividend. The ex-dividend date is Tuesday, January 14th. This represents a $3.00 dividend on an annualized basis and a yield of 1.90%. Quest Diagnostics's payout ratio is 40.32%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on DGX shares. Evercore ISI initiated coverage on Quest Diagnostics in a research note on Wednesday, August 28th. They issued an "in-line" rating and a $165.00 target price for the company. StockNews.com downgraded Quest Diagnostics from a "buy" rating to a "hold" rating in a report on Monday, November 18th. UBS Group raised their price target on shares of Quest Diagnostics from $165.00 to $166.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 23rd. Truist Financial upped their price objective on shares of Quest Diagnostics from $158.00 to $165.00 and gave the company a "hold" rating in a report on Monday, October 7th. Finally, Barclays boosted their target price on shares of Quest Diagnostics from $154.00 to $168.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 23rd. Nine research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Quest Diagnostics has a consensus rating of "Hold" and an average target price of $164.58.

Insider Activity at Quest Diagnostics

In related news, SVP Karthik Kuppusamy sold 1,775 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $156.92, for a total transaction of $278,533.00. Following the completion of the transaction, the senior vice president now owns 9,734 shares of the company's stock, valued at approximately $1,527,459.28. This trade represents a 15.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Michael J. Deppe sold 18,755 shares of the firm's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $154.05, for a total value of $2,889,207.75. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.79% of the company's stock.

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.