Naples Money Management LLC Purchases Shares of 19,000 Quest Diagnostics Incorporated (NYSE:DGX)

Naples Money Management LLC acquired a new position in Quest Diagnostics Incorporated (NYSE:DGX) during the fourth quarter, Holdings Channel reports. The firm acquired 19,000 shares of the medical research company’s stock, valued at approximately $2,620,000. Quest Diagnostics makes up approximately 2.5% of Naples Money Management LLC’s holdings, making the stock its 12th biggest holding.

Other institutional investors have also modified their holdings of the company. Chilton Capital Management LLC bought a new stake in Quest Diagnostics during the first quarter worth approximately $28,000. NBC Securities Inc. bought a new stake in shares of Quest Diagnostics during the 3rd quarter worth $25,000. BKM Wealth Management LLC acquired a new position in shares of Quest Diagnostics in the 4th quarter worth $29,000. VisionPoint Advisory Group LLC raised its position in shares of Quest Diagnostics by 100.0% during the third quarter. VisionPoint Advisory Group LLC now owns 218 shares of the medical research company’s stock worth $27,000 after purchasing an additional 109 shares during the period. Finally, FinTrust Capital Advisors LLC lifted its holdings in shares of Quest Diagnostics by 1,100.0% during the third quarter. FinTrust Capital Advisors LLC now owns 264 shares of the medical research company’s stock valued at $32,000 after purchasing an additional 242 shares during the last quarter. Institutional investors and hedge funds own 88.06% of the company’s stock.

Quest Diagnostics Stock Up 2.0 %

Shares of NYSE:DGX traded up $2.53 during midday trading on Friday, hitting $128.44. 1,557,566 shares of the stock were exchanged, compared to its average volume of 1,035,946. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.20 and a current ratio of 1.31. Quest Diagnostics Incorporated has a 52-week low of $119.59 and a 52-week high of $148.62. The business’s fifty day simple moving average is $128.28 and its two-hundred day simple moving average is $130.72. The company has a market capitalization of $14.26 billion, a PE ratio of 17.15, a P/E/G ratio of 2.74 and a beta of 0.91.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings data on Thursday, February 1st. The medical research company reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.11 by $0.04. Quest Diagnostics had a return on equity of 15.79% and a net margin of 9.23%. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same period last year, the company earned $1.98 earnings per share. Quest Diagnostics’s quarterly revenue was down 1.9% compared to the same quarter last year. As a group, research analysts predict that Quest Diagnostics Incorporated will post 8.75 earnings per share for the current fiscal year.

Quest Diagnostics Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 22nd. Investors of record on Monday, April 8th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.34%. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.71. The ex-dividend date is Friday, April 5th. Quest Diagnostics’s dividend payout ratio (DPR) is currently 37.92%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. SVB Leerink started coverage on Quest Diagnostics in a report on Monday, February 26th. They set a “market perform” rating and a $135.00 price objective on the stock. StockNews.com downgraded shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Wednesday. TheStreet cut shares of Quest Diagnostics from a “b-” rating to a “c” rating in a research report on Monday, February 5th. Truist Financial restated a “hold” rating and issued a $145.00 target price on shares of Quest Diagnostics in a report on Wednesday, March 20th. Finally, Barclays initiated coverage on Quest Diagnostics in a report on Wednesday, January 3rd. They issued an “equal weight” rating and a $145.00 target price for the company. Ten equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $144.18.

Insider Buying and Selling

In related news, SVP Michael E. Prevoznik sold 661 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $126.14, for a total transaction of $83,378.54. Following the completion of the sale, the senior vice president now directly owns 40,206 shares in the company, valued at $5,071,584.84. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Quest Diagnostics news, EVP Catherine T. Doherty sold 821 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $126.14, for a total transaction of $103,560.94. Following the transaction, the executive vice president now directly owns 70,800 shares of the company’s stock, valued at $8,930,712. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael E. Prevoznik sold 661 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $126.14, for a total transaction of $83,378.54. Following the transaction, the senior vice president now directly owns 40,206 shares in the company, valued at $5,071,584.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,150 shares of company stock worth $1,913,202. Corporate insiders own 0.79% of the company’s stock.

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.