Tredje AP fonden Sells 276 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

Tredje AP fonden cut its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 1.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,493 shares of the medical research company’s stock after selling 276 shares during the quarter. Tredje AP fonden’s holdings in Quest Diagnostics were worth $2,394,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Quest Diagnostics by 2.5% in 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. Wellington Management Group LLP grew its stake in shares of Quest Diagnostics by 0.7% during the fourth quarter. Wellington Management Group LLP now owns 2,632,326 shares of the medical research company’s stock valued at $362,945,000 after buying an additional 18,533 shares during the last quarter. Davis Selected Advisers increased its holdings in shares of Quest Diagnostics by 0.4% in the second quarter. Davis Selected Advisers now owns 2,390,828 shares of the medical research company’s stock worth $327,257,000 after buying an additional 9,665 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Quest Diagnostics by 6.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,109,515 shares of the medical research company’s stock valued at $288,758,000 after acquiring an additional 129,395 shares during the period. Finally, Norges Bank bought a new position in Quest Diagnostics during the 4th quarter worth approximately $140,472,000. 88.06% of the stock is currently owned by institutional investors.

Quest Diagnostics Trading Down 0.2 %

NYSE DGX opened at $155.12 on Friday. The stock’s 50 day moving average is $150.43 and its 200 day moving average is $140.68. The company has a quick ratio of 0.91, a current ratio of 1.00 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $17.23 billion, a PE ratio of 20.88, a P/E/G ratio of 2.80 and a beta of 0.89. Quest Diagnostics Incorporated has a twelve month low of $119.59 and a twelve month high of $159.36.

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

Quest Diagnostics Dividend Announcement

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

Insider Activity

In related news, SVP Karthik Kuppusamy sold 1,990 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $153.26, for a total value of $304,987.40. Following the sale, the senior vice president now owns 11,459 shares in the company, valued at approximately $1,756,206.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Mark E. Delaney sold 420 shares of Quest Diagnostics stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $143.08, for a total value of $60,093.60. Following the completion of the transaction, 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 legal filing with the SEC, which is available through the SEC website. Also, SVP Karthik Kuppusamy sold 1,990 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $153.26, for a total transaction of $304,987.40. Following the completion of the transaction, the senior vice president now owns 11,459 shares in the company, valued at approximately $1,756,206.34. The disclosure for this sale can be found here. Company insiders own 0.79% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on DGX shares. Citigroup upgraded Quest Diagnostics from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $145.00 to $165.00 in a research report on Wednesday, July 10th. Evercore ISI began coverage on shares of Quest Diagnostics in a research report on Wednesday, August 28th. They set an “in-line” rating and a $165.00 price target for the company. Truist Financial raised their price target on shares of Quest Diagnostics from $150.00 to $158.00 and gave the stock a “hold” rating in a report on Monday, July 15th. Barclays upped their price objective on shares of Quest Diagnostics from $144.00 to $154.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 27th. Finally, 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 research note on Thursday, May 30th. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Quest Diagnostics has an average rating of “Hold” and a consensus price target of $154.33.

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.