Prudential PLC Grows Stock Position in Quest Diagnostics Incorporated (NYSE:DGX)

Prudential PLC raised its holdings in Quest Diagnostics Incorporated (NYSE:DGXGet Rating) by 366.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,827 shares of the medical research company’s stock after acquiring an additional 18,721 shares during the quarter. Prudential PLC’s holdings in Quest Diagnostics were worth $3,169,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of DGX. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Quest Diagnostics by 5.8% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 11,867 shares of the medical research company’s stock worth $1,624,000 after buying an additional 654 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in Quest Diagnostics in the 1st quarter worth approximately $524,000. NorthCrest Asset Manangement LLC lifted its stake in shares of Quest Diagnostics by 515.2% during the 2nd quarter. NorthCrest Asset Manangement LLC now owns 16,013 shares of the medical research company’s stock worth $2,129,000 after purchasing an additional 13,410 shares during the period. Kentucky Retirement Systems boosted its holdings in shares of Quest Diagnostics by 14.8% during the second quarter. Kentucky Retirement Systems now owns 8,711 shares of the medical research company’s stock worth $1,158,000 after purchasing an additional 1,126 shares during the last quarter. Finally, Argent Trust Co grew its position in shares of Quest Diagnostics by 1.4% in the first quarter. Argent Trust Co now owns 27,237 shares of the medical research company’s stock valued at $3,728,000 after purchasing an additional 374 shares during the period. Hedge funds and other institutional investors own 88.87% of the company’s stock.

Quest Diagnostics Stock Performance

Shares of DGX opened at $148.46 on Thursday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.46 and a quick ratio of 1.34. The stock has a market cap of $16.91 billion, a price-to-earnings ratio of 14.60 and a beta of 1.02. Quest Diagnostics Incorporated has a one year low of $120.40 and a one year high of $174.16. The company has a 50-day moving average of $134.89 and a two-hundred day moving average of $134.74.

Quest Diagnostics (NYSE:DGXGet Rating) last posted its quarterly earnings data on Thursday, October 20th. The medical research company reported $2.36 earnings per share for the quarter, topping the consensus estimate of $2.19 by $0.17. The firm had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.34 billion. Quest Diagnostics had a net margin of 12.00% and a return on equity of 21.36%. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same period in the previous year, the company posted $3.96 EPS. On average, equities research analysts expect that Quest Diagnostics Incorporated will post 9.85 earnings per share for the current year.

Quest Diagnostics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 1st. Shareholders of record on Wednesday, January 18th will be given a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Tuesday, January 17th. Quest Diagnostics’s payout ratio is currently 25.96%.

Analysts Set New Price Targets

Several analysts have commented on the company. William Blair restated an “outperform” rating on shares of Quest Diagnostics in a report on Thursday, October 20th. Morgan Stanley raised their price target on shares of Quest Diagnostics from $142.00 to $146.00 and gave the company an “equal weight” rating in a report on Friday, October 21st. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Quest Diagnostics from $129.00 to $140.00 and gave the company a “hold” rating in a research report on Friday, October 21st. StockNews.com lowered Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Tuesday, November 8th. Finally, Citigroup downgraded Quest Diagnostics from a “neutral” rating to a “sell” rating and reduced their price target for the company from $145.00 to $125.00 in a report on Thursday, November 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $148.50.

Insider Activity

In other Quest Diagnostics news, Director Timothy M. Ring sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $144.06, for a total value of $288,120.00. Following the sale, the director now owns 24,149 shares of the company’s stock, valued at approximately $3,478,904.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Michael J. Deppe sold 15,497 shares of the company’s stock in a transaction on Wednesday, October 26th. The stock was sold at an average price of $145.00, for a total transaction of $2,247,065.00. Following the transaction, the chief accounting officer now owns 32,013 shares of the company’s stock, valued at $4,641,885. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Timothy M. Ring sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $144.06, for a total transaction of $288,120.00. Following the completion of the transaction, the director now directly owns 24,149 shares in the company, valued at approximately $3,478,904.94. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,497 shares of company stock worth $2,781,965. 1.70% of the stock is owned by corporate insiders.

Quest Diagnostics Profile

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Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic information services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.

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Institutional Ownership by Quarter for Quest Diagnostics (NYSE:DGX)

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