36,503 Shares in Quest Diagnostics Incorporated (NYSE:DGX) Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new position in Quest Diagnostics Incorporated (NYSE:DGX) during the fourth quarter, Holdings Channel reports. The institutional investor bought 36,503 shares of the medical research company’s stock, valued at approximately $5,507,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Raymond James Financial Inc. bought a new stake in shares of Quest Diagnostics in the 4th quarter worth approximately $67,447,000. BNP Paribas Financial Markets increased its position in Quest Diagnostics by 25.4% in the third quarter. BNP Paribas Financial Markets now owns 747,298 shares of the medical research company’s stock worth $116,018,000 after buying an additional 151,365 shares during the period. Bank of New York Mellon Corp lifted its stake in Quest Diagnostics by 14.8% in the fourth quarter. Bank of New York Mellon Corp now owns 881,764 shares of the medical research company’s stock valued at $133,023,000 after buying an additional 113,956 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Quest Diagnostics by 535.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 128,440 shares of the medical research company’s stock valued at $19,376,000 after acquiring an additional 108,224 shares during the period. Finally, Principal Financial Group Inc. grew its position in shares of Quest Diagnostics by 23.8% during the fourth quarter. Principal Financial Group Inc. now owns 543,472 shares of the medical research company’s stock worth $81,994,000 after acquiring an additional 104,495 shares during the last quarter. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Quest Diagnostics

In other Quest Diagnostics news, EVP Catherine T. Doherty sold 535 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $169.71, for a total transaction of $90,794.85. Following the sale, the executive vice president now directly owns 71,356 shares of the company’s stock, valued at $12,109,826.76. The trade was a 0.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Vicky B. Gregg sold 1,250 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $164.57, for a total value of $205,712.50. Following the completion of the sale, the director now directly owns 16,867 shares of the company’s stock, valued at approximately $2,775,802.19. This trade represents a 6.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,157 shares of company stock worth $2,423,755. 0.79% of the stock is owned by corporate insiders.

Quest Diagnostics Price Performance

NYSE DGX opened at $165.49 on Wednesday. The stock has a market capitalization of $18.37 billion, a P/E ratio of 21.52, a P/E/G ratio of 2.16 and a beta of 0.92. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.02 and a current ratio of 1.10. The business’s fifty day moving average is $165.70 and its two-hundred day moving average is $158.82. Quest Diagnostics Incorporated has a 1 year low of $125.42 and a 1 year high of $178.87.

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

Quest Diagnostics Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.93%. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.75. Quest Diagnostics’s payout ratio is currently 41.61%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on DGX shares. Truist Financial boosted their target price on shares of Quest Diagnostics from $172.00 to $182.00 and gave the company a “hold” rating in a research note on Friday, January 31st. Robert W. Baird boosted their price objective on Quest Diagnostics from $190.00 to $191.00 and gave the stock an “outperform” rating in a research report on Thursday, March 20th. Jefferies Financial Group restated a “buy” rating and issued a $185.00 target price (up from $175.00) on shares of Quest Diagnostics in a research report on Tuesday, December 10th. Citigroup lowered Quest Diagnostics from a “buy” rating to a “neutral” rating and set a $185.00 price target for the company. in a research report on Tuesday, March 4th. Finally, Mizuho raised their price target on Quest Diagnostics from $177.00 to $178.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $178.38.

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.