Quest Diagnostics Incorporated (NYSE:DGX) Shares Bought by Waterloo Capital L.P.

Waterloo Capital L.P. raised its position in Quest Diagnostics Incorporated (NYSE:DGX) by 6.2% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 4,397 shares of the medical research company’s stock after buying an additional 255 shares during the quarter. Waterloo Capital L.P.’s holdings in Quest Diagnostics were worth $602,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. State of Alaska Department of Revenue increased its stake in Quest Diagnostics by 50.9% in the 1st quarter. State of Alaska Department of Revenue now owns 41,796 shares of the medical research company’s stock valued at $5,562,000 after buying an additional 14,090 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Quest Diagnostics by 5.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 135,148 shares of the medical research company’s stock worth $18,634,000 after purchasing an additional 7,415 shares during the period. Scarborough Advisors LLC acquired a new position in shares of Quest Diagnostics during the 4th quarter worth $1,562,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Quest Diagnostics by 16.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 131,329 shares of the medical research company’s stock worth $17,481,000 after purchasing an additional 18,642 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Quest Diagnostics by 2.5% during 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 purchasing an additional 345,754 shares during the period. 88.06% of the stock is owned by institutional investors and hedge funds.

Quest Diagnostics Trading Up 0.1 %

Shares of DGX stock opened at $155.48 on Thursday. The firm has a market cap of $17.27 billion, a P/E ratio of 20.93, a PEG ratio of 2.80 and a beta of 0.89. Quest Diagnostics Incorporated has a 1-year low of $119.59 and a 1-year high of $159.36. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.00 and a quick ratio of 0.91. The firm’s 50-day simple moving average is $150.20 and its 200-day simple moving average is $140.58.

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

Quest Diagnostics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Friday, October 4th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Friday, October 4th. Quest Diagnostics’s dividend payout ratio (DPR) is presently 40.38%.

Insider Buying and Selling

In related news, SVP Karthik Kuppusamy sold 1,990 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $153.26, for a total transaction of $304,987.40. Following the completion of the sale, the senior vice president now owns 11,459 shares of the company’s stock, valued at approximately $1,756,206.34. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, SVP Mark E. Delaney sold 420 shares of the stock in a transaction that occurred on 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 sale, the senior vice president now owns 5,019 shares of the company’s stock, valued at approximately $718,118.52. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Karthik Kuppusamy sold 1,990 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $153.26, for a total transaction of $304,987.40. Following the sale, the senior vice president now directly owns 11,459 shares of the company’s stock, valued at approximately $1,756,206.34. The disclosure for this sale can be found here. Corporate insiders own 0.79% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Piper Sandler boosted their price objective on shares of Quest Diagnostics from $145.00 to $150.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Evercore ISI assumed coverage on shares of Quest Diagnostics in a research report on Wednesday, August 28th. They issued an “in-line” rating and a $165.00 price objective on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Quest Diagnostics from $152.00 to $155.00 and gave the stock a “neutral” rating in a research report on Thursday, May 30th. StockNews.com upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Finally, Truist Financial boosted their price objective on shares of Quest Diagnostics from $150.00 to $158.00 and gave the stock a “hold” rating in a research report on Monday, July 15th. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Quest Diagnostics has a consensus rating of “Hold” and a consensus price target of $154.33.

Quest Diagnostics Company 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.