Quest Diagnostics Incorporated (NYSE:DGX) Shares Bought by Custom Index Systems LLC

Custom Index Systems LLC raised its position in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 10.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,854 shares of the medical research company’s stock after acquiring an additional 655 shares during the quarter. Custom Index Systems LLC’s holdings in Quest Diagnostics were worth $1,034,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Versant Capital Management Inc boosted its position in Quest Diagnostics by 340.4% during 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 last quarter. First Financial Corp IN acquired a new position in shares of Quest Diagnostics during the 4th quarter worth approximately $38,000. Sunbelt Securities Inc. acquired a new position in shares of Quest Diagnostics during the 2nd quarter worth approximately $40,000. Global Trust Asset Management LLC purchased a new stake in shares of Quest Diagnostics in the fourth quarter valued at approximately $49,000. Finally, Quarry LP acquired a new stake in shares of Quest Diagnostics in the second quarter valued at approximately $74,000. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Stock Down 0.9 %

Shares of NYSE DGX opened at $162.77 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.25 and a debt-to-equity ratio of 0.83. The business’s 50 day moving average is $155.42 and its two-hundred day moving average is $153.50. Quest Diagnostics Incorporated has a 52-week low of $123.04 and a 52-week high of $167.08. The firm has a market cap of $18.17 billion, a price-to-earnings ratio of 21.88, a PEG ratio of 2.43 and a beta of 0.90.

Quest Diagnostics (NYSE:DGX) last posted 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 15.25% and a net margin of 8.82%. Research analysts predict that Quest Diagnostics Incorporated will post 8.9 EPS for the current year.

Quest Diagnostics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.97%. 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. Quest Diagnostics’s dividend payout ratio is currently 40.32%.

Wall Street Analyst Weigh In

DGX has been the topic of a number of recent research reports. Leerink Partners raised Quest Diagnostics from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $169.00 to $174.00 in a research note on Monday, January 6th. Robert W. Baird raised shares of Quest Diagnostics from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $157.00 to $182.00 in a research report on Wednesday, October 23rd. Mizuho raised their price objective on shares of Quest Diagnostics from $160.00 to $174.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Barclays boosted their target price on shares of Quest Diagnostics from $168.00 to $175.00 and gave the company an “equal weight” rating in a report on Friday. Finally, UBS Group raised their price target on shares of Quest Diagnostics from $165.00 to $166.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $174.00.

Insider Activity

In other news, CAO Michael J. Deppe sold 18,755 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $154.05, for a total value of $2,889,207.75. Following the sale, the chief accounting officer now directly owns 34,941 shares in the company, valued at approximately $5,382,661.05. This trade represents a 34.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.