Zurcher Kantonalbank Zurich Cantonalbank Has $17.70 Million Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Quest Diagnostics Incorporated (NYSE:DGX) by 6.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 114,003 shares of the medical research company’s stock after purchasing an additional 6,839 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.10% of Quest Diagnostics worth $17,699,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in DGX. Davis Selected Advisers increased its stake in Quest Diagnostics by 0.4% in the 2nd quarter. Davis Selected Advisers now owns 2,390,828 shares of the medical research company’s stock valued at $327,257,000 after buying an additional 9,665 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Quest Diagnostics by 6.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,109,515 shares of the medical research company’s stock worth $288,758,000 after acquiring an additional 129,395 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Quest Diagnostics by 2.1% in the third quarter. DekaBank Deutsche Girozentrale now owns 748,680 shares of the medical research company’s stock worth $115,621,000 after acquiring an additional 15,047 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Quest Diagnostics by 25.4% during the third quarter. BNP Paribas Financial Markets now owns 747,298 shares of the medical research company’s stock valued at $116,018,000 after purchasing an additional 151,365 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Quest Diagnostics by 1.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 708,100 shares of the medical research company’s stock valued at $109,933,000 after purchasing an additional 12,565 shares in the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DGX has been the subject of a number of recent research reports. Barclays raised their price target on Quest Diagnostics from $154.00 to $168.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 23rd. Mizuho boosted their target price on shares of Quest Diagnostics from $160.00 to $174.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Baird R W upgraded shares of Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 23rd. Evercore ISI started coverage on shares of Quest Diagnostics in a report on Wednesday, August 28th. They issued an “in-line” rating and a $165.00 price objective for the company. Finally, UBS Group raised their target price on Quest Diagnostics from $165.00 to $166.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Nine research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $164.58.

Insider Activity at Quest Diagnostics

In other Quest Diagnostics news, CAO Michael J. Deppe sold 18,755 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $154.05, for a total value of $2,889,207.75. Following the completion of the transaction, the chief accounting officer now owns 34,941 shares of the company’s stock, valued at $5,382,661.05. This represents a 34.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Karthik Kuppusamy sold 1,775 shares of Quest Diagnostics stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $156.92, for a total value of $278,533.00. Following the sale, the senior vice president now directly owns 9,734 shares in the company, valued at $1,527,459.28. The trade was a 15.42 % decrease in their position. The disclosure for this sale can be found here. 0.79% of the stock is owned by corporate insiders.

Quest Diagnostics Stock Performance

DGX opened at $162.75 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.25 and a debt-to-equity ratio of 0.83. The stock’s 50 day moving average price is $155.62 and its two-hundred day moving average price is $149.15. The firm has a market capitalization of $18.16 billion, a P/E ratio of 21.88, a price-to-earnings-growth ratio of 2.82 and a beta of 0.89. Quest Diagnostics Incorporated has a 12-month low of $123.04 and a 12-month high of $165.32.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings data on Tuesday, October 22nd. The medical research company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.04. The business had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.43 billion. Quest Diagnostics had a net margin of 8.82% and a return on equity of 15.25%. Quest Diagnostics’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the company posted $2.22 earnings per share. On average, equities analysts forecast that Quest Diagnostics Incorporated will post 8.9 earnings per share for the current year.

Quest Diagnostics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Tuesday, January 14th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend is Tuesday, January 14th. Quest Diagnostics’s dividend payout ratio is currently 40.32%.

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.