Chicago Partners Investment Group LLC Buys New Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

Chicago Partners Investment Group LLC bought a new stake in Quest Diagnostics Incorporated (NYSE:DGX) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,146 shares of the medical research company’s stock, valued at approximately $202,000.

A number of other large investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its position in Quest Diagnostics by 0.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 740,838 shares of the medical research company’s stock valued at $125,350,000 after buying an additional 4,405 shares during the last quarter. ASR Vermogensbeheer N.V. purchased a new stake in Quest Diagnostics in the first quarter valued at approximately $1,408,000. Cary Street Partners Investment Advisory LLC boosted its position in Quest Diagnostics by 423.7% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 1,037 shares of the medical research company’s stock valued at $175,000 after buying an additional 839 shares during the last quarter. ING Groep NV boosted its position in Quest Diagnostics by 26.8% in the first quarter. ING Groep NV now owns 13,074 shares of the medical research company’s stock valued at $2,212,000 after buying an additional 2,764 shares during the last quarter. Finally, Blair William & Co. IL boosted its position in Quest Diagnostics by 31.0% in the first quarter. Blair William & Co. IL now owns 52,621 shares of the medical research company’s stock valued at $8,903,000 after buying an additional 12,464 shares during the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Insider Buying and Selling at Quest Diagnostics

In related news, SVP Karthik Kuppusamy sold 8,269 shares of the stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $167.40, for a total value of $1,384,230.60. Following the completion of the transaction, the senior vice president directly owned 10,660 shares of the company’s stock, valued at approximately $1,784,484. This represents a 43.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Patrick Plewman sold 5,535 shares of the stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $175.00, for a total value of $968,625.00. Following the completion of the transaction, the senior vice president directly owned 19,219 shares of the company’s stock, valued at approximately $3,363,325. This represents a 22.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,014 shares of company stock valued at $2,728,556. 8.16% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

DGX has been the topic of a number of recent research reports. UBS Group dropped their target price on Quest Diagnostics from $176.00 to $175.00 and set a “neutral” rating on the stock in a research report on Friday, July 18th. Piper Sandler upped their price objective on Quest Diagnostics from $180.00 to $200.00 and gave the stock a “neutral” rating in a research report on Monday, April 28th. Deutsche Bank Aktiengesellschaft upped their price objective on Quest Diagnostics from $160.00 to $178.00 and gave the stock a “hold” rating in a research report on Wednesday, July 23rd. Truist Financial upped their price objective on Quest Diagnostics from $190.00 to $192.00 and gave the stock a “hold” rating in a research report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. upped their price objective on Quest Diagnostics from $180.00 to $190.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $186.00.

Quest Diagnostics Stock Up 0.1%

NYSE DGX opened at $178.62 on Wednesday. The business has a fifty day moving average price of $174.37 and a 200 day moving average price of $171.40. Quest Diagnostics Incorporated has a one year low of $146.17 and a one year high of $182.38. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.99 and a current ratio of 1.09. The company has a market cap of $19.97 billion, a P/E ratio of 21.39, a P/E/G ratio of 2.37 and a beta of 0.46.

Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings data on Tuesday, July 22nd. The medical research company reported $2.62 EPS for the quarter, beating the consensus estimate of $2.57 by $0.05. Quest Diagnostics had a return on equity of 15.24% and a net margin of 9.01%. The firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.73 billion. During the same period in the prior year, the company earned $2.35 EPS. The firm’s revenue was up 15.2% compared to the same quarter last year. Research analysts anticipate that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

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.