Sivik Global Healthcare LLC Invests $4.14 Million in Quest Diagnostics Incorporated (NYSE:DGX)

Sivik Global Healthcare LLC purchased a new stake in Quest Diagnostics Incorporated (NYSE:DGX) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 30,000 shares of the medical research company’s stock, valued at approximately $4,136,000.

A number of other large investors also recently bought and sold shares of DGX. NBC Securities Inc. purchased a new position in shares of Quest Diagnostics in the third quarter worth about $25,000. VisionPoint Advisory Group LLC lifted its stake in Quest Diagnostics by 100.0% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 218 shares of the medical research company’s stock worth $27,000 after purchasing an additional 109 shares in the last quarter. BKM Wealth Management LLC acquired a new position in shares of Quest Diagnostics during the 4th quarter worth approximately $29,000. FinTrust Capital Advisors LLC boosted its holdings in shares of Quest Diagnostics by 1,100.0% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 264 shares of the medical research company’s stock worth $32,000 after purchasing an additional 242 shares during the last quarter. Finally, Alaska Permanent Fund Corp lifted its position in Quest Diagnostics by 79.3% during the fourth quarter. Alaska Permanent Fund Corp now owns 242 shares of the medical research company’s stock worth $33,000 after buying an additional 107 shares in the last quarter. Institutional investors and hedge funds own 88.06% of the company’s stock.

Quest Diagnostics Price Performance

DGX stock traded down $1.32 during midday trading on Tuesday, hitting $138.18. 1,067,313 shares of the stock were exchanged, compared to its average volume of 1,078,991. The stock has a market cap of $15.35 billion, a price-to-earnings ratio of 18.71, a PEG ratio of 2.92 and a beta of 0.91. Quest Diagnostics Incorporated has a fifty-two week low of $119.59 and a fifty-two week high of $145.58. The stock’s 50-day moving average price is $129.41 and its 200-day moving average price is $131.42. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.89 and a current ratio of 0.97.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings data on Tuesday, April 23rd. The medical research company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.18. Quest Diagnostics had a net margin of 9.11% and a return on equity of 15.52%. The business had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.29 billion. During the same period last year, the company posted $2.04 EPS. The company’s revenue was up 1.7% on a year-over-year basis. Research analysts predict that Quest Diagnostics Incorporated will post 8.78 earnings per share for the current year.

Quest Diagnostics Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, April 5th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.17%. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.71. Quest Diagnostics’s dividend payout ratio (DPR) is presently 38.22%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on DGX. TheStreet cut shares of Quest Diagnostics from a “b-” rating to a “c” rating in a research report on Monday, February 5th. SVB Leerink assumed coverage on shares of Quest Diagnostics in a research report on Monday, February 26th. They set a “market perform” rating and a $135.00 price target on the stock. StockNews.com upgraded Quest Diagnostics from a “hold” rating to a “buy” rating in a research report on Thursday, April 25th. Mizuho upped their price target on Quest Diagnostics from $150.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, Jefferies Financial Group upgraded Quest Diagnostics from a “hold” rating to a “buy” rating and increased their price target for the stock from $140.00 to $155.00 in a report on Wednesday, February 7th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $146.17.

Insider Buying and Selling

In related news, SVP Michael E. Prevoznik sold 5,611 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $125.88, for a total transaction of $706,312.68. Following the sale, the senior vice president now owns 38,478 shares in the company, valued at $4,843,610.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 5,611 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $125.88, for a total value of $706,312.68. Following the sale, the senior vice president now directly owns 38,478 shares of the company’s stock, valued at approximately $4,843,610.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Vicky B. Gregg sold 2,500 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $126.64, for a total transaction of $316,600.00. Following the transaction, the director now directly owns 16,329 shares of the company’s stock, valued at approximately $2,067,904.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,150 shares of company stock worth $1,913,202. 0.79% of the stock is owned by corporate insiders.

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.