Sheaff Brock Investment Advisors LLC Takes Position in Quest Diagnostics Incorporated (NYSE:DGX)

Sheaff Brock Investment Advisors LLC acquired a new stake in shares of Quest Diagnostics Incorporated (NYSE:DGX) during the 4th quarter, Holdings Channel.com reports. The firm acquired 7,125 shares of the medical research company’s stock, valued at approximately $1,075,000.

Several other institutional investors have also modified their holdings of DGX. Landscape Capital Management L.L.C. acquired a new stake in Quest Diagnostics in the 3rd quarter valued at approximately $1,363,000. Natixis Advisors LLC boosted its holdings in shares of Quest Diagnostics by 7.7% in the 3rd quarter. Natixis Advisors LLC now owns 92,830 shares of the medical research company’s stock valued at $14,412,000 after buying an additional 6,619 shares during the last quarter. Sanctuary Advisors LLC grew its stake in shares of Quest Diagnostics by 85.5% in the third quarter. Sanctuary Advisors LLC now owns 17,969 shares of the medical research company’s stock valued at $2,940,000 after buying an additional 8,282 shares in the last quarter. BankPlus Wealth Management LLC acquired a new position in Quest Diagnostics during the fourth quarter worth $355,000. Finally, Icon Wealth Advisors LLC raised its position in Quest Diagnostics by 8,669.8% during the third quarter. Icon Wealth Advisors LLC now owns 62,178 shares of the medical research company’s stock worth $9,653,000 after acquiring an additional 61,469 shares in the last quarter. Institutional investors own 88.06% of the company’s stock.

Insiders Place Their Bets

In other news, Director Vicky B. Gregg sold 1,250 shares of Quest Diagnostics stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $164.57, for a total value of $205,712.50. Following the transaction, the director now owns 16,867 shares in the company, valued at approximately $2,775,802.19. This trade represents a 6.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Mark E. Delaney sold 403 shares of Quest Diagnostics stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $164.30, for a total value of $66,212.90. Following the completion of the transaction, the senior vice president now owns 4,624 shares in the company, valued at approximately $759,723.20. The trade was a 8.02 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.79% of the company’s stock.

Quest Diagnostics Trading Up 0.1 %

Shares of DGX stock opened at $168.97 on Monday. The stock has a market cap of $18.86 billion, a P/E ratio of 21.97, a price-to-earnings-growth ratio of 2.04 and a beta of 0.91. Quest Diagnostics Incorporated has a 1 year low of $123.30 and a 1 year high of $171.30. The company has a current ratio of 1.10, a quick ratio of 1.02 and a debt-to-equity ratio of 0.82. The stock has a 50 day simple moving average of $156.13 and a 200 day simple moving average of $155.17.

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

Quest Diagnostics Increases Dividend

The business 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 1.89%. 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 Analyst Weigh In

DGX has been the subject of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Quest Diagnostics from $173.00 to $180.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Barclays boosted 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. Piper Sandler reaffirmed 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. Jefferies Financial Group reissued a “buy” rating and set a $185.00 target price (up from $175.00) on shares of Quest Diagnostics in a report on Tuesday, December 10th. Finally, Citigroup raised their price target on Quest Diagnostics from $165.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Seven investment 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 company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $177.69.

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.