Capital Wealth Planning LLC Raises Position in Quest Diagnostics Incorporated (NYSE:DGX)

Capital Wealth Planning LLC raised its holdings in Quest Diagnostics Incorporated (NYSE:DGX) by 70.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,738 shares of the medical research company’s stock after buying an additional 15,946 shares during the period. Capital Wealth Planning LLC’s holdings in Quest Diagnostics were worth $5,844,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DGX. Wealth Enhancement Advisory Services LLC boosted its position in Quest Diagnostics by 14.5% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 10,657 shares of the medical research company’s stock valued at $1,655,000 after buying an additional 1,346 shares during the period. Janney Montgomery Scott LLC lifted its position in shares of Quest Diagnostics by 20.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 16,348 shares of the medical research company’s stock worth $2,538,000 after purchasing an additional 2,805 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Quest Diagnostics by 114.9% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 10,169 shares of the medical research company’s stock worth $1,579,000 after purchasing an additional 5,436 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of Quest Diagnostics by 10.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 124,484 shares of the medical research company’s stock worth $19,326,000 after purchasing an additional 12,083 shares during the last quarter. Finally, Forum Financial Management LP lifted its position in shares of Quest Diagnostics by 5.4% during the 3rd quarter. Forum Financial Management LP now owns 1,940 shares of the medical research company’s stock worth $301,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Insider Transactions at Quest Diagnostics

In other news, SVP Mark E. Delaney sold 403 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $164.30, for a total transaction of $66,212.90. Following the transaction, the senior vice president now directly owns 4,624 shares in the company, valued at $759,723.20. The trade was a 8.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Vicky B. Gregg sold 1,250 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $164.57, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,144 shares of company stock worth $699,367 over the last ninety days. 0.79% of the stock is currently owned by company insiders.

Quest Diagnostics Trading Up 0.8 %

NYSE DGX opened at $172.86 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.02 and a current ratio of 1.10. The firm has a market cap of $19.18 billion, a PE ratio of 22.48, a P/E/G ratio of 2.16 and a beta of 0.91. Quest Diagnostics Incorporated has a one year low of $123.66 and a one year high of $176.44. The firm’s fifty day moving average is $159.63 and its two-hundred day moving average is $156.78.

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, beating analysts’ consensus estimates of $2.19 by $0.04. Quest Diagnostics had a net margin of 8.80% and a return on equity of 15.07%. Analysts expect that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current year.

Quest Diagnostics Increases Dividend

The firm 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 $0.80 dividend. The ex-dividend date is Monday, April 7th. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a yield of 1.85%. Quest Diagnostics’s payout ratio is currently 41.61%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on DGX shares. Barclays lifted their price objective on shares of Quest Diagnostics from $168.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Jefferies Financial Group reaffirmed a “buy” rating and set a $185.00 price objective (up from $175.00) on shares of Quest Diagnostics in a research report on Tuesday, December 10th. StockNews.com cut shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Bank of America boosted their price target on shares of Quest Diagnostics from $179.00 to $182.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, Mizuho boosted their price target on shares of Quest Diagnostics from $177.00 to $178.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $178.23.

About Quest Diagnostics

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.