Quest Diagnostics Incorporated (NYSE:DGX) Shares Bought by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC increased its position in shares of Quest Diagnostics Incorporated (NYSE:DGXFree Report) by 1.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,294 shares of the medical research company’s stock after purchasing an additional 116 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Quest Diagnostics were worth $950,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of DGX. Versant Capital Management Inc raised its holdings in shares of Quest Diagnostics by 340.4% during the fourth quarter. Versant Capital Management Inc now owns 251 shares of the medical research company’s stock valued at $38,000 after buying an additional 194 shares during the last quarter. First Financial Corp IN bought a new stake in Quest Diagnostics during the fourth quarter worth approximately $38,000. Sunbelt Securities Inc. acquired a new stake in Quest Diagnostics in the second quarter worth approximately $40,000. Global Trust Asset Management LLC acquired a new position in shares of Quest Diagnostics during the 4th quarter valued at $49,000. Finally, Quarry LP bought a new stake in Quest Diagnostics in the second quarter worth about $74,000. 88.06% of the stock is owned by institutional investors and hedge funds.

Quest Diagnostics Trading Down 1.7 %

Shares of NYSE DGX opened at $157.29 on Wednesday. Quest Diagnostics Incorporated has a twelve month low of $123.04 and a twelve month high of $165.32. The stock has a market cap of $17.55 billion, a price-to-earnings ratio of 21.14, a P/E/G ratio of 2.36 and a beta of 0.90. 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 company’s fifty day moving average is $155.54 and its 200-day moving average is $153.42.

Quest Diagnostics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Tuesday, January 14th will be paid 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 1.91%. Quest Diagnostics’s payout ratio is 40.32%.

Insiders Place Their Bets

In related news, CAO Michael J. Deppe sold 18,755 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 34,941 shares in the company, valued at approximately $5,382,661.05. The trade was a 34.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on DGX shares. Bank of America lifted their price target on shares of Quest Diagnostics from $179.00 to $182.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Robert W. Baird upgraded Quest Diagnostics from a “neutral” rating to an “outperform” rating and increased their price target for the company from $157.00 to $182.00 in a research report on Wednesday, October 23rd. Piper Sandler lifted their target price on shares of Quest Diagnostics from $150.00 to $165.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Leerink Partnrs upgraded shares of Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Finally, Leerink Partners upgraded Quest Diagnostics from a “market perform” rating to an “outperform” rating and upped their target price for the company from $169.00 to $174.00 in a report on Monday, January 6th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $172.15.

Check Out Our Latest Research Report on DGX

About Quest Diagnostics

(Free Report)

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.

See Also

Want to see what other hedge funds are holding DGX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quest Diagnostics Incorporated (NYSE:DGXFree Report).

Institutional Ownership by Quarter for Quest Diagnostics (NYSE:DGX)

Receive News & Ratings for Quest Diagnostics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quest Diagnostics and related companies with MarketBeat.com's FREE daily email newsletter.