MSH Capital Advisors LLC Invests $1.19 Million in Quest Diagnostics Incorporated (NYSE:DGX)

MSH Capital Advisors LLC acquired a new stake in Quest Diagnostics Incorporated (NYSE:DGX) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 7,856 shares of the medical research company’s stock, valued at approximately $1,185,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DGX. AGP Franklin LLC bought a new position in Quest Diagnostics in the 4th quarter worth approximately $858,000. Canada Post Corp Registered Pension Plan acquired a new position in shares of Quest Diagnostics during the fourth quarter valued at $303,000. Strategies Wealth Advisors LLC bought a new stake in shares of Quest Diagnostics during the fourth quarter valued at about $238,000. CreativeOne Wealth LLC lifted its holdings in Quest Diagnostics by 21.3% in the fourth quarter. CreativeOne Wealth LLC now owns 6,480 shares of the medical research company’s stock worth $977,000 after purchasing an additional 1,137 shares during the period. Finally, Mariner LLC grew its position in Quest Diagnostics by 4.8% in the 4th quarter. Mariner LLC now owns 52,153 shares of the medical research company’s stock valued at $7,868,000 after buying an additional 2,380 shares in the last quarter. 88.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Quest Diagnostics

In other news, EVP Catherine T. Doherty sold 535 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $169.71, for a total transaction of $90,794.85. Following the completion of the transaction, the executive vice president now owns 71,356 shares of the company’s stock, valued at approximately $12,109,826.76. This represents a 0.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO J. E. Davis sold 39,191 shares of Quest Diagnostics stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $168.46, for a total value of $6,602,115.86. Following the sale, the chief executive officer now directly owns 127,623 shares in the company, valued at approximately $21,499,370.58. This trade represents a 23.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 55,903 shares of company stock valued at $9,460,221. Insiders own 0.79% of the company’s stock.

Analyst Upgrades and Downgrades

DGX has been the topic of a number of research analyst reports. Morgan Stanley upgraded shares of Quest Diagnostics from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $145.00 to $172.00 in a research note on Tuesday, December 17th. Leerink Partnrs raised Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Redburn Partners set a $195.00 target price on Quest Diagnostics in a research note on Wednesday, April 2nd. Barclays boosted their price target 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. Finally, JPMorgan Chase & Co. raised their price objective on shares of Quest Diagnostics from $173.00 to $180.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Quest Diagnostics currently has a consensus rating of “Moderate Buy” and an average target price of $181.33.

Quest Diagnostics Stock Down 0.5 %

Quest Diagnostics stock opened at $167.22 on Wednesday. Quest Diagnostics Incorporated has a twelve month low of $125.42 and a twelve month high of $178.87. 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 $18.56 billion, a PE ratio of 21.75, a P/E/G ratio of 2.16 and a beta of 0.78. The firm’s 50 day moving average price is $168.67 and its two-hundred day moving average price is $160.10.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings data on Thursday, January 30th. The medical research company reported $2.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.19 by $0.04. Quest Diagnostics had a return on equity of 15.07% and a net margin of 8.80%. On average, research analysts predict that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal 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 paid a dividend of $0.80 per share. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.20 annualized dividend and a dividend yield of 1.91%. Quest Diagnostics’s dividend payout ratio is 41.61%.

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.