BankPlus Trust Department Takes $1.60 Million Position in Quest Diagnostics Incorporated (NYSE:DGX)

BankPlus Trust Department purchased a new stake in shares of Quest Diagnostics Incorporated (NYSE:DGX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,582 shares of the medical research company’s stock, valued at approximately $1,596,000.

A number of other hedge funds also recently added to or reduced their stakes in DGX. IFP Advisors Inc increased its holdings in shares of Quest Diagnostics by 1,544.4% in the 4th quarter. IFP Advisors Inc now owns 15,523 shares of the medical research company’s stock worth $2,346,000 after purchasing an additional 14,579 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in Quest Diagnostics by 3.3% in the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 25,020 shares of the medical research company’s stock worth $3,775,000 after buying an additional 800 shares in the last quarter. Wealthspire Advisors LLC raised its position in Quest Diagnostics by 7.0% in the 4th quarter. Wealthspire Advisors LLC now owns 3,693 shares of the medical research company’s stock worth $557,000 after buying an additional 240 shares during the last quarter. FPC Investment Advisory Inc. bought a new position in Quest Diagnostics during the 4th quarter valued at about $45,000. Finally, Sigma Planning Corp boosted its holdings in shares of Quest Diagnostics by 2.3% during the 4th quarter. Sigma Planning Corp now owns 5,497 shares of the medical research company’s stock valued at $829,000 after acquiring an additional 124 shares during the last quarter. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

Quest Diagnostics Trading Up 0.2 %

Shares of NYSE:DGX opened at $172.44 on Monday. The stock has a 50 day moving average of $157.56 and a 200 day moving average of $156.00. The company has a market cap of $19.25 billion, a PE ratio of 22.42, a price-to-earnings-growth ratio of 2.16 and a beta of 0.91. Quest Diagnostics Incorporated has a 12-month low of $123.66 and a 12-month high of $172.91. The company has a current ratio of 1.10, a quick ratio of 1.02 and a debt-to-equity ratio of 0.82.

Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings results on Thursday, January 30th. The medical research company reported $2.23 earnings per share for the quarter, topping 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%. As a group, equities research analysts expect that Quest Diagnostics Incorporated will post 9.7 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. Shareholders of record on Monday, April 7th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.86%. 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 is presently 39.01%.

Insider Buying and Selling at Quest Diagnostics

In related news, SVP Michael E. Prevoznik sold 604 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $170.99, for a total value of $103,277.96. Following the transaction, the senior vice president now directly owns 39,845 shares of the company’s stock, valued at approximately $6,813,096.55. The trade was a 1.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Vicky B. Gregg sold 1,250 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $164.57, for a total transaction of $205,712.50. Following the sale, the director now directly owns 16,867 shares of the company’s stock, 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 2,792 shares of company stock valued at $465,998 over the last ninety days. 0.79% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on DGX. UBS Group boosted their price objective on shares of Quest Diagnostics from $166.00 to $170.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Jefferies Financial Group reiterated a “buy” rating and set a $185.00 target price (up from $175.00) on shares of Quest Diagnostics in a research note on Tuesday, December 10th. Robert W. Baird set a $189.00 price target on Quest Diagnostics in a research note on Friday, January 31st. Barclays upped their price objective on Quest Diagnostics from $168.00 to $175.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Finally, Leerink Partners raised Quest Diagnostics from a “market perform” rating to an “outperform” rating and increased their target price for the company from $169.00 to $174.00 in a report on Monday, January 6th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently 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.