Headlands Technologies LLC Increases Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

Headlands Technologies LLC lifted its position in Quest Diagnostics Incorporated (NYSE:DGX) by 91.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,195 shares of the medical research company’s stock after purchasing an additional 1,048 shares during the quarter. Headlands Technologies LLC’s holdings in Quest Diagnostics were worth $300,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Rothschild Investment LLC purchased a new position in shares of Quest Diagnostics in the second quarter worth about $26,000. Spartan Planning & Wealth Management purchased a new position in shares of Quest Diagnostics in the fourth quarter worth about $31,000. Larson Financial Group LLC raised its stake in shares of Quest Diagnostics by 77.5% in the second quarter. Larson Financial Group LLC now owns 229 shares of the medical research company’s stock worth $31,000 after purchasing an additional 100 shares during the last quarter. Innealta Capital LLC purchased a new position in shares of Quest Diagnostics in the second quarter worth about $31,000. Finally, TruNorth Capital Management LLC purchased a new position in shares of Quest Diagnostics in the second quarter worth about $33,000. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

Quest Diagnostics Stock Down 0.3 %

DGX opened at $154.36 on Friday. The company has a market cap of $17.18 billion, a PE ratio of 20.78, a price-to-earnings-growth ratio of 2.80 and a beta of 0.89. Quest Diagnostics Incorporated has a twelve month low of $119.59 and a twelve month high of $159.36. The company has a 50-day moving average price of $149.21 and a 200 day moving average price of $139.85. The company has a quick ratio of 0.91, a current ratio of 1.00 and a debt-to-equity ratio of 0.57.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Tuesday, July 23rd. The medical research company reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.04. The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.39 billion. Quest Diagnostics had a net margin of 8.99% and a return on equity of 15.35%. Quest Diagnostics’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period last year, the company posted $2.30 EPS. Sell-side analysts expect that Quest Diagnostics Incorporated will post 8.89 earnings per share for the current fiscal year.

Quest Diagnostics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Friday, October 4th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date is Friday, October 4th. Quest Diagnostics’s dividend payout ratio is presently 40.38%.

Insider Activity at Quest Diagnostics

In related news, SVP Mark E. Delaney sold 420 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $143.08, for a total value of $60,093.60. Following the transaction, the senior vice president now directly owns 5,019 shares of the company’s stock, valued at approximately $718,118.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Quest Diagnostics news, SVP Karthik Kuppusamy sold 1,990 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $153.26, for a total value of $304,987.40. Following the transaction, the senior vice president now directly owns 11,459 shares of the company’s stock, valued at approximately $1,756,206.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Mark E. Delaney sold 420 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $143.08, for a total transaction of $60,093.60. Following the completion of the transaction, the senior vice president now directly owns 5,019 shares in the company, valued at $718,118.52. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

DGX has been the topic of several analyst reports. JPMorgan Chase & Co. raised their target price on Quest Diagnostics from $152.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. StockNews.com raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Evercore ISI assumed coverage on shares of Quest Diagnostics in a report on Wednesday, August 28th. They set an “in-line” rating and a $165.00 target price for the company. Citigroup raised shares of Quest Diagnostics from a “neutral” rating to a “buy” rating and increased their price target for the stock from $145.00 to $165.00 in a report on Wednesday, July 10th. Finally, Piper Sandler lifted their price objective on shares of Quest Diagnostics from $145.00 to $150.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $154.33.

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.