Parkman Healthcare Partners LLC Invests $8.54 Million in Quest Diagnostics Incorporated (NYSE:DGX)

Parkman Healthcare Partners LLC acquired a new position in shares of Quest Diagnostics Incorporated (NYSE:DGX) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 55,000 shares of the medical research company’s stock, valued at approximately $8,539,000.

A number of other large investors have also recently bought and sold shares of DGX. Rothschild Investment LLC bought a new stake in Quest Diagnostics in the second quarter valued at $26,000. Innealta Capital LLC bought a new position in Quest Diagnostics in the 2nd quarter worth about $31,000. Larson Financial Group LLC increased its stake in shares of Quest Diagnostics by 77.5% in the second quarter. Larson Financial Group LLC now owns 229 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 100 shares during the period. TruNorth Capital Management LLC bought a new stake in shares of Quest Diagnostics during the second quarter valued at approximately $33,000. Finally, EdgeRock Capital LLC acquired a new position in shares of Quest Diagnostics during the second quarter worth approximately $35,000. Institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Trading Up 0.3 %

Shares of DGX stock opened at $161.94 on Wednesday. The business’s 50 day moving average is $155.95 and its two-hundred day moving average is $149.54. The company has a quick ratio of 1.17, a current ratio of 1.25 and a debt-to-equity ratio of 0.83. Quest Diagnostics Incorporated has a 12 month low of $123.04 and a 12 month high of $165.32. The company has a market cap of $18.07 billion, a PE ratio of 21.77, a price-to-earnings-growth ratio of 2.79 and a beta of 0.89.

Quest Diagnostics (NYSE:DGX) last announced 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 firm had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.43 billion. Quest Diagnostics had a return on equity of 15.25% and a net margin of 8.82%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.22 EPS. Equities analysts predict that Quest Diagnostics Incorporated will post 8.9 EPS for the current year.

Quest Diagnostics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Tuesday, January 14th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Tuesday, January 14th. Quest Diagnostics’s dividend payout ratio (DPR) is 40.32%.

Wall Street Analysts Forecast Growth

DGX has been the subject of a number of analyst reports. Barclays boosted their price target on Quest Diagnostics from $154.00 to $168.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. Piper Sandler raised their price objective on Quest Diagnostics from $150.00 to $165.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Truist Financial increased their price target on Quest Diagnostics from $158.00 to $165.00 and gave the company a “hold” rating in a research report on Monday, October 7th. UBS Group upped their price objective on shares of Quest Diagnostics from $165.00 to $166.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Evercore ISI started coverage on shares of Quest Diagnostics in a research report on Wednesday, August 28th. They issued an “in-line” rating and a $165.00 price target for the company. Nine analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $164.58.

Insider Buying and Selling at Quest Diagnostics

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