Quantbot Technologies LP Invests $2.12 Million in Quest Diagnostics Incorporated (NYSE:DGX)

Quantbot Technologies LP acquired a new position in Quest Diagnostics Incorporated (NYSE:DGX) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 15,955 shares of the medical research company’s stock, valued at approximately $2,124,000.

Several other institutional investors have also recently made changes to their positions in the business. Victory Capital Management Inc. lifted its stake in shares of Quest Diagnostics by 1.8% in the 4th quarter. Victory Capital Management Inc. now owns 3,476,628 shares of the medical research company’s stock worth $479,357,000 after purchasing an additional 62,114 shares during the period. Wellington Management Group LLP lifted its stake in shares of Quest Diagnostics by 0.7% in the 4th quarter. Wellington Management Group LLP now owns 2,632,326 shares of the medical research company’s stock worth $362,945,000 after purchasing an additional 18,533 shares during the period. Norges Bank bought a new stake in Quest Diagnostics during the 4th quarter worth approximately $140,472,000. Charles Schwab Investment Management Inc. raised its stake in Quest Diagnostics by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 663,917 shares of the medical research company’s stock worth $91,541,000 after acquiring an additional 17,085 shares during the period. Finally, Nuance Investments LLC bought a new stake in Quest Diagnostics during the 4th quarter worth approximately $83,070,000. Institutional investors own 88.06% of the company’s stock.

Insider Activity at Quest Diagnostics

In related news, SVP Karthik Kuppusamy sold 1,760 shares of Quest Diagnostics stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $140.00, for a total value of $246,400.00. Following the completion of the sale, the senior vice president now directly owns 13,435 shares in the company, valued at $1,880,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.79% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Mizuho raised their target price on shares of Quest Diagnostics from $150.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Truist Financial raised their target price on shares of Quest Diagnostics from $145.00 to $150.00 and gave the stock a “hold” rating in a research note on Wednesday, April 24th. Robert W. Baird raised their target price on shares of Quest Diagnostics from $145.00 to $153.00 and gave the stock a “neutral” rating in a research note on Friday, July 5th. Barclays raised their target price on shares of Quest Diagnostics from $138.00 to $144.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 25th. Finally, JPMorgan Chase & Co. raised their target price on shares of Quest Diagnostics from $152.00 to $155.00 and gave the stock a “neutral” rating in a research note on Thursday, May 30th. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Quest Diagnostics has an average rating of “Hold” and a consensus target price of $148.69.

Quest Diagnostics Trading Up 0.4 %

Shares of NYSE:DGX traded up $0.61 on Friday, hitting $144.11. 580,792 shares of the company’s stock were exchanged, compared to its average volume of 981,783. Quest Diagnostics Incorporated has a 12 month low of $119.59 and a 12 month high of $145.62. The stock has a market capitalization of $16.01 billion, a price-to-earnings ratio of 19.40, a price-to-earnings-growth ratio of 3.05 and a beta of 0.89. The business’s 50 day simple moving average is $139.84 and its two-hundred day simple moving average is $134.04. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.97 and a quick ratio of 0.89.

Quest Diagnostics (NYSE:DGX) last released its earnings results on Tuesday, April 23rd. The medical research company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.18. Quest Diagnostics had a return on equity of 15.52% and a net margin of 9.11%. The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.29 billion. During the same period last year, the company earned $2.04 earnings per share. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. Analysts anticipate that Quest Diagnostics Incorporated will post 8.79 EPS for the current fiscal year.

Quest Diagnostics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 22nd. Investors of record on Monday, July 8th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Monday, July 8th. This represents a $3.00 annualized dividend and a dividend yield of 2.08%. Quest Diagnostics’s payout ratio is currently 40.38%.

Quest Diagnostics 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.