Massmutual Trust Co. FSB ADV Has $3.09 Million Position in Quest Diagnostics Incorporated (NYSE:DGX)

Massmutual Trust Co. FSB ADV cut its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 0.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,587 shares of the medical research company’s stock after selling 202 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Quest Diagnostics were worth $3,092,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Quest Diagnostics in the fourth quarter worth about $140,472,000. Nuance Investments LLC bought a new position in Quest Diagnostics in the 4th quarter valued at approximately $83,070,000. M&G Plc purchased a new position in shares of Quest Diagnostics in the 1st quarter worth $46,432,000. Vanguard Group Inc. increased its holdings in Quest Diagnostics by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 13,921,955 shares of the medical research company’s stock worth $1,853,151,000 after acquiring an additional 345,754 shares in the last quarter. Finally, Pathstone Holdings LLC purchased a new position in Quest Diagnostics during the fourth quarter valued at $46,342,000. 88.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. StockNews.com raised Quest Diagnostics from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Truist Financial increased their price objective on Quest Diagnostics from $150.00 to $158.00 and gave the company a “hold” rating in a report on Monday, July 15th. Piper Sandler raised their price target on Quest Diagnostics from $145.00 to $150.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Barclays boosted their price target on Quest Diagnostics from $138.00 to $144.00 and gave the company an “equal weight” rating in a report on Thursday, April 25th. Finally, Robert W. Baird raised their target price on Quest Diagnostics from $153.00 to $154.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $150.58.

Quest Diagnostics Stock Performance

Shares of NYSE:DGX traded down $4.39 on Monday, hitting $145.69. The company had a trading volume of 1,261,942 shares, compared to its average volume of 1,000,710. The stock has a market cap of $16.22 billion, a price-to-earnings ratio of 20.20, a P/E/G ratio of 2.69 and a beta of 0.89. The stock has a 50 day moving average price of $141.41 and a 200 day moving average price of $134.77. The company has a current ratio of 1.00, a quick ratio of 0.91 and a debt-to-equity ratio of 0.57. Quest Diagnostics Incorporated has a 1-year low of $119.59 and a 1-year high of $151.78.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Tuesday, July 23rd. The medical research company reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.04. The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.39 billion. Quest Diagnostics had a net margin of 8.99% and a return on equity of 15.35%. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.30 EPS. Analysts expect that Quest Diagnostics Incorporated will post 8.89 EPS for the current year.

Quest Diagnostics Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 22nd. Stockholders of record on Monday, July 8th were given a dividend of $0.75 per share. The ex-dividend date was Monday, July 8th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.06%. Quest Diagnostics’s dividend payout ratio (DPR) is presently 40.38%.

Insider Buying and Selling at Quest Diagnostics

In other news, SVP Mark E. Delaney sold 420 shares of Quest Diagnostics stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $143.08, for a total transaction of $60,093.60. Following the completion of the transaction, the senior vice president now directly owns 5,019 shares in the company, valued at $718,118.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.79% of the company’s stock.

About Quest Diagnostics

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.