Stevens Capital Management LP Takes Position in Quest Diagnostics Incorporated (NYSE:DGX)

Stevens Capital Management LP purchased a new stake in Quest Diagnostics Incorporated (NYSE:DGX) in the fourth quarter, Holdings Channel reports. The firm purchased 2,361 shares of the medical research company’s stock, valued at approximately $356,000.

A number of other large investors have also made changes to their positions in DGX. Sierra Ocean LLC purchased a new stake in shares of Quest Diagnostics in the fourth quarter valued at approximately $33,000. Versant Capital Management Inc grew its position in Quest Diagnostics by 340.4% in the fourth quarter. Versant Capital Management Inc now owns 251 shares of the medical research company’s stock worth $38,000 after acquiring an additional 194 shares during the period. First Financial Corp IN purchased a new position in Quest Diagnostics in the fourth quarter worth approximately $38,000. FPC Investment Advisory Inc. purchased a new position in Quest Diagnostics in the fourth quarter worth approximately $45,000. Finally, Global Trust Asset Management LLC purchased a new position in Quest Diagnostics in the fourth quarter worth approximately $49,000. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

Quest Diagnostics Stock Up 0.3 %

Shares of NYSE DGX opened at $166.96 on Monday. The stock has a market cap of $18.53 billion, a P/E ratio of 21.71, a PEG ratio of 2.16 and a beta of 0.92. The company has a current ratio of 1.10, a quick ratio of 1.02 and a debt-to-equity ratio of 0.82. Quest Diagnostics Incorporated has a 12-month low of $125.42 and a 12-month high of $178.87. The business’s fifty day simple moving average is $165.18 and its 200-day simple moving average is $158.64.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings data on Thursday, January 30th. The medical research company reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.19 by $0.04. Quest Diagnostics had a return on equity of 15.07% and a net margin of 8.80%. As a group, equities analysts predict that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Monday, April 7th. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a yield of 1.92%. Quest Diagnostics’s dividend payout ratio (DPR) is currently 41.61%.

Insider Buying and Selling at Quest Diagnostics

In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 604 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $170.99, for a total value of $103,277.96. Following the sale, the senior vice president now directly owns 39,845 shares in the company, valued at $6,813,096.55. This trade represents a 1.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Vicky B. Gregg sold 1,250 shares of Quest Diagnostics stock in a transaction dated Wednesday, February 5th. The stock was 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. This trade represents a 6.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,157 shares of company stock worth $2,423,755 over the last ninety days. Corporate insiders own 0.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Leerink Partnrs upgraded Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Piper Sandler reiterated a “neutral” rating and issued a $180.00 price objective (up from $165.00) on shares of Quest Diagnostics in a research report on Monday, February 3rd. Morgan Stanley upgraded Quest Diagnostics from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $145.00 to $172.00 in a research report on Tuesday, December 17th. Barclays raised their price target on Quest Diagnostics from $168.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Finally, StockNews.com lowered Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Eight investment analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $178.38.

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.