Fjarde AP Fonden Fourth Swedish National Pension Fund Purchases 800 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 3.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,020 shares of the medical research company’s stock after purchasing an additional 800 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Quest Diagnostics were worth $3,775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Landscape Capital Management L.L.C. purchased a new position in shares of Quest Diagnostics in the 3rd quarter worth $1,363,000. Sanctuary Advisors LLC grew its position in shares of Quest Diagnostics by 85.5% during the third quarter. Sanctuary Advisors LLC now owns 17,969 shares of the medical research company’s stock worth $2,940,000 after purchasing an additional 8,282 shares in the last quarter. Natixis Advisors LLC raised its position in shares of Quest Diagnostics by 7.7% during the third quarter. Natixis Advisors LLC now owns 92,830 shares of the medical research company’s stock valued at $14,412,000 after buying an additional 6,619 shares during the last quarter. BankPlus Wealth Management LLC purchased a new stake in Quest Diagnostics in the 4th quarter worth $355,000. Finally, Van ECK Associates Corp lifted its position in shares of Quest Diagnostics by 980.3% in the fourth quarter. Van ECK Associates Corp now owns 24,198 shares of the medical research company’s stock worth $3,650,000 after buying an additional 21,958 shares in the last quarter. Institutional investors own 88.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Piper Sandler reiterated a “neutral” rating and set a $180.00 price objective (up previously from $165.00) on shares of Quest Diagnostics in a research report on Monday, February 3rd. Mizuho increased their target price on Quest Diagnostics from $177.00 to $178.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. UBS Group lifted their price target on shares of Quest Diagnostics from $166.00 to $170.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Leerink Partners upgraded shares of Quest Diagnostics from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $169.00 to $174.00 in a report on Monday, January 6th. Finally, Truist Financial lifted their price target on Quest Diagnostics from $172.00 to $182.00 and gave the company a “hold” rating in a report on Friday, January 31st. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Quest Diagnostics presently has an average rating of “Moderate Buy” and a consensus target price of $178.23.

Insider Transactions at Quest Diagnostics

In other news, EVP Catherine T. Doherty sold 535 shares of Quest Diagnostics stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $169.71, for a total value of $90,794.85. Following the sale, the executive vice president now owns 71,356 shares in the company, valued at $12,109,826.76. This trade represents a 0.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Mark E. Delaney sold 403 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $164.30, for a total value of $66,212.90. Following the transaction, the senior vice president now directly owns 4,624 shares of the company’s stock, valued at $759,723.20. The trade was a 8.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,792 shares of company stock valued at $465,998 in the last ninety days. 0.79% of the stock is currently owned by corporate insiders.

Quest Diagnostics Stock Performance

Shares of DGX stock opened at $175.69 on Wednesday. The business has a fifty day moving average of $157.99 and a 200 day moving average of $156.17. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.10 and a quick ratio of 1.02. The firm has a market capitalization of $19.50 billion, a price-to-earnings ratio of 22.85, a price-to-earnings-growth ratio of 2.16 and a beta of 0.91. Quest Diagnostics Incorporated has a 1 year low of $123.66 and a 1 year high of $176.44.

Quest Diagnostics (NYSE:DGX) last issued its earnings results on Thursday, January 30th. The medical research company reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.19 by $0.04. Quest Diagnostics had a net margin of 8.80% and a return on equity of 15.07%. As a group, research analysts expect that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current year.

Quest Diagnostics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be paid a $0.80 dividend. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Monday, April 7th. Quest Diagnostics’s payout ratio is currently 41.61%.

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.