Quest Diagnostics Incorporated (NYSE:DGX) Position Boosted by UMB Bank n.a.

UMB Bank n.a. raised its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 1,524.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,023 shares of the medical research company’s stock after acquiring an additional 22,544 shares during the period. UMB Bank n.a.’s holdings in Quest Diagnostics were worth $3,624,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its stake in shares of Quest Diagnostics by 340.4% during the fourth quarter. Versant Capital Management Inc now owns 251 shares of the medical research company’s stock valued at $38,000 after purchasing an additional 194 shares in the last quarter. First Financial Corp IN acquired a new position in Quest Diagnostics during the 4th quarter valued at about $38,000. Sunbelt Securities Inc. bought a new stake in shares of Quest Diagnostics during the 2nd quarter worth about $40,000. Quarry LP acquired a new stake in shares of Quest Diagnostics in the 2nd quarter worth approximately $74,000. Finally, Sentry Investment Management LLC bought a new position in shares of Quest Diagnostics in the third quarter valued at approximately $82,000. Institutional investors and hedge funds own 88.06% of the company’s stock.

Quest Diagnostics Stock Performance

Shares of DGX stock opened at $151.31 on Tuesday. The company has a market capitalization of $16.89 billion, a price-to-earnings ratio of 20.34, a P/E/G ratio of 2.37 and a beta of 0.90. Quest Diagnostics Incorporated has a 1-year low of $123.04 and a 1-year high of $165.32. The company has a current ratio of 1.25, a quick ratio of 1.17 and a debt-to-equity ratio of 0.83. The stock’s fifty day simple moving average is $156.23 and its 200-day simple moving average is $152.83.

Quest Diagnostics (NYSE:DGX) last released its earnings results on Tuesday, October 22nd. The medical research company reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.04. The company had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.43 billion. Quest Diagnostics had a return on equity of 15.25% and a net margin of 8.82%. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.22 EPS. On average, sell-side analysts predict that Quest Diagnostics Incorporated will post 8.9 earnings per share for the current fiscal year.

Quest Diagnostics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Tuesday, January 14th will be paid a $0.75 dividend. The ex-dividend date is Tuesday, January 14th. This represents a $3.00 annualized dividend and a yield of 1.98%. Quest Diagnostics’s dividend payout ratio is presently 40.32%.

Analysts Set New Price Targets

A number of research firms have weighed in on DGX. Jefferies Financial Group restated a “buy” rating and issued a $185.00 target price (up from $175.00) on shares of Quest Diagnostics in a research report on Tuesday, December 10th. Morgan Stanley upgraded Quest Diagnostics from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $145.00 to $172.00 in a report on Tuesday, December 17th. Citigroup lifted their target price on Quest Diagnostics from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Mizuho upped their price target on shares of Quest Diagnostics from $160.00 to $174.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Robert W. Baird raised shares of Quest Diagnostics from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $157.00 to $182.00 in a research note on Wednesday, October 23rd. Seven 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $172.15.

Insiders Place Their Bets

In other news, SVP Karthik Kuppusamy sold 1,775 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $156.92, for a total transaction of $278,533.00. Following the completion of the sale, the senior vice president now directly owns 9,734 shares of the company’s stock, valued at $1,527,459.28. This trade represents a 15.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Michael J. Deppe sold 18,755 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $154.05, for a total value of $2,889,207.75. Following the completion of the sale, the chief accounting officer now directly owns 34,941 shares of the company’s stock, valued at approximately $5,382,661.05. The trade was a 34.93 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.79% of the company’s stock.

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.