Quest Diagnostics Incorporated $DGX is Peterson Wealth Services’ 8th Largest Position

Peterson Wealth Services lifted its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 33,812.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 61,042 shares of the medical research company’s stock after buying an additional 60,862 shares during the quarter. Quest Diagnostics makes up approximately 2.6% of Peterson Wealth Services’ investment portfolio, making the stock its 8th largest position. Peterson Wealth Services’ holdings in Quest Diagnostics were worth $11,633,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in DGX. Brighton Jones LLC acquired a new stake in Quest Diagnostics during the 4th quarter worth approximately $323,000. Janney Montgomery Scott LLC raised its stake in shares of Quest Diagnostics by 11.8% during the second quarter. Janney Montgomery Scott LLC now owns 20,142 shares of the medical research company’s stock worth $3,618,000 after purchasing an additional 2,132 shares during the last quarter. PFG Investments LLC lifted its holdings in shares of Quest Diagnostics by 4.9% during the second quarter. PFG Investments LLC now owns 1,952 shares of the medical research company’s stock worth $351,000 after purchasing an additional 92 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Quest Diagnostics by 5.7% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,407 shares of the medical research company’s stock valued at $2,768,000 after buying an additional 830 shares during the last quarter. Finally, Ameritas Advisory Services LLC acquired a new position in Quest Diagnostics in the 2nd quarter valued at $35,000. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Stock Down 1.2%

DGX stock opened at $184.85 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 1.04 and a debt-to-equity ratio of 0.71. The company’s 50-day moving average price is $181.25 and its 200 day moving average price is $180.84. Quest Diagnostics Incorporated has a 52 week low of $157.20 and a 52 week high of $197.55. The company has a market cap of $20.56 billion, a P/E ratio of 21.70, a P/E/G ratio of 2.37 and a beta of 0.66.

Quest Diagnostics Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 28th. Investors of record on Tuesday, January 13th were issued a $0.80 dividend. The ex-dividend date was Tuesday, January 13th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.7%. Quest Diagnostics’s dividend payout ratio is currently 37.56%.

Insider Buying and Selling

In other Quest Diagnostics news, SVP Mark E. Delaney sold 7,946 shares of the company’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $187.35, for a total value of $1,488,683.10. Following the sale, the senior vice president owned 7,530 shares of the company’s stock, valued at approximately $1,410,745.50. This represents a 51.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO J. E. Davis sold 55,093 shares of the firm’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $192.22, for a total value of $10,589,976.46. Following the completion of the transaction, the chief executive officer owned 120,480 shares of the company’s stock, valued at approximately $23,158,665.60. This represents a 31.38% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 64,289 shares of company stock worth $12,318,360 in the last quarter. Company insiders own 8.16% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on DGX shares. Truist Financial raised their target price on shares of Quest Diagnostics from $195.00 to $205.00 and gave the stock a “hold” rating in a research note on Wednesday, October 22nd. Weiss Ratings reissued a “buy (b-)” rating on shares of Quest Diagnostics in a report on Monday, December 29th. Mizuho raised their price objective on shares of Quest Diagnostics from $190.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Evercore ISI boosted their target price on Quest Diagnostics from $185.00 to $190.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 8th. Finally, UBS Group increased their target price on Quest Diagnostics from $180.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday, October 17th. Eight investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $198.27.

About Quest Diagnostics

Quest Diagnostics (NYSE: DGX) is a leading provider of diagnostic information services that supports clinical decision-making for patients, physicians and healthcare organizations. The company operates a network of clinical laboratories and patient service centers that perform a broad range of laboratory tests and diagnostic assays used in routine care, disease diagnosis, monitoring and screening.

Its services span core clinical laboratory testing, anatomic pathology, molecular and genomic diagnostics, infectious disease testing and toxicology.