YANKCOM Partnership Takes $1.07 Million Position in Quest Diagnostics Incorporated (NYSE:DGX)

YANKCOM Partnership acquired a new position in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 7,063 shares of the medical research company's stock, valued at approximately $1,066,000.

A number of other large investors have also recently added to or reduced their stakes in DGX. Versant Capital Management Inc raised its stake in Quest Diagnostics by 340.4% in the 4th 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 acquired a new stake in Quest Diagnostics during the fourth quarter worth approximately $38,000. Global Trust Asset Management LLC acquired a new stake in Quest Diagnostics during the fourth quarter worth approximately $49,000. Sentry Investment Management LLC acquired a new position in Quest Diagnostics in the 3rd quarter valued at $82,000. Finally, Board of the Pension Protection Fund acquired a new stake in shares of Quest Diagnostics during the fourth quarter worth $91,000. 88.06% of the stock is owned by institutional investors and hedge funds.

Quest Diagnostics Stock Up 0.0 %

Shares of DGX traded up $0.02 during mid-day trading on Friday, reaching $162.66. 499,450 shares of the stock traded hands, compared to its average volume of 1,053,881. The stock has a fifty day simple moving average of $155.44 and a 200 day simple moving average of $154.27. Quest Diagnostics Incorporated has a 12-month low of $123.30 and a 12-month high of $167.08. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.82. The firm has a market cap of $18.15 billion, a price-to-earnings ratio of 21.15, a P/E/G ratio of 2.04 and a beta of 0.91.

Quest Diagnostics (NYSE:DGX - Get Free Report) last released 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%. Sell-side analysts expect that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.97%. 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 dividend payout ratio (DPR) is 39.01%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DGX. StockNews.com lowered Quest Diagnostics from a "buy" rating to a "hold" rating in a research note on Thursday. Jefferies Financial Group reaffirmed a "buy" rating and set a $185.00 price target (up previously from $175.00) on shares of Quest Diagnostics in a research note on Tuesday, December 10th. Leerink Partnrs upgraded Quest Diagnostics from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. Piper Sandler reissued a "neutral" rating and set a $180.00 price target (up previously from $165.00) on shares of Quest Diagnostics in a research report on Monday, February 3rd. Finally, Morgan Stanley upgraded Quest Diagnostics from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $145.00 to $172.00 in a report on Tuesday, December 17th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $177.69.

Insiders Place Their Bets

In related news, SVP Mark E. Delaney sold 403 shares of the business's stock in a transaction dated 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 sale, the senior vice president now directly owns 4,624 shares of the company's stock, valued at $759,723.20. The trade was a 8.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 sale, the director now owns 16,867 shares in the company, valued at $2,775,802.19. The trade was a 6.90 % decrease in their position. The disclosure for this sale can be found here. 0.79% of the stock is owned by company insiders.

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.