OneDigital Investment Advisors LLC Buys 209 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

OneDigital Investment Advisors LLC boosted its holdings in Quest Diagnostics Incorporated (NYSE:DGX) by 6.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,562 shares of the medical research company’s stock after purchasing an additional 209 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Quest Diagnostics were worth $553,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Van Lanschot Kempen Investment Management N.V. purchased a new position in Quest Diagnostics during the 2nd quarter valued at approximately $48,783,000. Wedge Capital Management L L P NC raised its stake in 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 valued at $37,993,000 after purchasing an additional 238,007 shares in the last quarter. Point72 Asset Management L.P. lifted its position in 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 purchasing an additional 206,640 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of Quest Diagnostics in the 2nd quarter worth $22,049,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Quest Diagnostics by 6.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,109,515 shares of the medical research company’s stock worth $288,758,000 after buying an additional 129,395 shares during the last quarter. 88.06% of the stock is currently owned by institutional investors.

Quest Diagnostics Price Performance

Shares of DGX opened at $161.38 on Thursday. The company has a market capitalization of $18.01 billion, a P/E ratio of 21.69, a P/E/G ratio of 2.77 and a beta of 0.89. The business’s 50-day moving average is $154.31 and its two-hundred day moving average is $147.89. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.17 and a current ratio of 1.25. Quest Diagnostics Incorporated has a fifty-two week low of $123.04 and a fifty-two week high of $162.88.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings results on Tuesday, October 22nd. The medical research company reported $2.30 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $2.43 billion. During the same period last year, the business earned $2.22 earnings per share. Quest Diagnostics’s quarterly revenue was up 8.5% on a year-over-year basis. Research analysts predict that Quest Diagnostics Incorporated will post 8.9 earnings per share for the current year.

Quest Diagnostics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Tuesday, January 14th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend is Tuesday, January 14th. Quest Diagnostics’s payout ratio is 40.32%.

Insider Buying and Selling

In other news, SVP Karthik Kuppusamy sold 1,775 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $156.92, for a total transaction of $278,533.00. Following the transaction, the senior vice president now directly owns 9,734 shares in the company, valued at $1,527,459.28. The trade was a 15.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Michael J. Deppe sold 18,755 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $154.05, for a total value of $2,889,207.75. Following the completion of the sale, the chief accounting officer now directly 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. In the last quarter, insiders sold 22,520 shares of company stock valued at $3,472,728. 0.79% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. UBS Group raised their price objective on Quest Diagnostics from $165.00 to $166.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Truist Financial upped their price target 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. Piper Sandler upped their target price on Quest Diagnostics from $150.00 to $165.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. Baird R W upgraded Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 23rd. Finally, Evercore ISI started coverage on shares of Quest Diagnostics in a report on Wednesday, August 28th. They issued an “in-line” rating and a $165.00 price target on the stock. Nine analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Quest Diagnostics currently has an average rating of “Hold” and a consensus price target of $164.58.

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.