Teachers Retirement System of The State of Kentucky Has $1.36 Million Stake in Quest Diagnostics Incorporated (NYSE:DGX)

Teachers Retirement System of The State of Kentucky lowered its stake in Quest Diagnostics Incorporated (NYSE:DGXFree Report) by 2.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,881 shares of the medical research company’s stock after selling 220 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Quest Diagnostics were worth $1,362,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Raymond James & Associates raised its position in shares of Quest Diagnostics by 103.3% during the fourth quarter. Raymond James & Associates now owns 148,251 shares of the medical research company’s stock worth $20,441,000 after acquiring an additional 75,315 shares during the last quarter. CHURCHILL MANAGEMENT Corp bought a new stake in Quest Diagnostics during the 4th quarter worth about $1,483,000. Wellington Management Group LLP lifted its position in Quest Diagnostics by 14.6% during the 3rd quarter. Wellington Management Group LLP now owns 2,613,793 shares of the medical research company’s stock valued at $318,517,000 after purchasing an additional 333,947 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Quest Diagnostics by 5.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 135,148 shares of the medical research company’s stock valued at $18,634,000 after purchasing an additional 7,415 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its stake in shares of Quest Diagnostics by 201.5% in the 4th quarter. Pacer Advisors Inc. now owns 31,912 shares of the medical research company’s stock valued at $4,400,000 after purchasing an additional 21,327 shares during the last quarter. Institutional investors own 88.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. UBS Group increased their price objective on shares of Quest Diagnostics from $139.00 to $146.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Truist Financial raised their price target on Quest Diagnostics from $145.00 to $150.00 and gave the stock a “hold” rating in a research report on Wednesday, April 24th. Leerink Partnrs reiterated a “market perform” rating on shares of Quest Diagnostics in a report on Monday, February 26th. JPMorgan Chase & Co. raised their target price on Quest Diagnostics from $152.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. Finally, StockNews.com raised Quest Diagnostics from a “hold” rating to a “buy” rating in a research note on Saturday, June 15th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $146.67.

Get Our Latest Stock Report on Quest Diagnostics

Insider Buying and Selling at Quest Diagnostics

In other news, SVP Karthik Kuppusamy sold 1,760 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $140.00, for a total transaction of $246,400.00. Following the completion of the transaction, the senior vice president now directly owns 13,435 shares of the company’s stock, valued at approximately $1,880,900. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.79% of the company’s stock.

Quest Diagnostics Stock Performance

Shares of DGX opened at $138.96 on Monday. The firm has a market cap of $15.44 billion, a P/E ratio of 18.70, a PEG ratio of 3.00 and a beta of 0.89. Quest Diagnostics Incorporated has a twelve month low of $119.59 and a twelve month high of $145.62. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.89 and a current ratio of 0.97. The firm’s 50 day moving average price is $138.00 and its two-hundred day moving average price is $133.71.

Quest Diagnostics (NYSE:DGXGet Free Report) last posted its quarterly earnings data on Tuesday, April 23rd. The medical research company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.86 by $0.18. Quest Diagnostics had a net margin of 9.11% and a return on equity of 15.52%. The business had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.29 billion. During the same period in the previous year, the firm posted $2.04 EPS. The firm’s revenue was up 1.7% compared to the same quarter last year. On average, analysts forecast that Quest Diagnostics Incorporated will post 8.79 EPS for the current fiscal year.

Quest Diagnostics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 22nd. Investors of record on Monday, July 8th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend is Monday, July 8th. Quest Diagnostics’s dividend payout ratio is presently 40.38%.

Quest Diagnostics Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Quest Diagnostics (NYSE:DGX)

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