Azzad Asset Management Inc. ADV Has $589,000 Stock Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

Azzad Asset Management Inc. ADV lifted its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 3.0% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 3,791 shares of the medical research company’s stock after buying an additional 111 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Quest Diagnostics were worth $589,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Quest Diagnostics by 2.5% during the first quarter. Vanguard Group Inc. now owns 13,921,955 shares of the medical research company’s stock worth $1,853,151,000 after acquiring an additional 345,754 shares during the period. Wellington Management Group LLP increased its position in 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 worth $362,945,000 after acquiring an additional 18,533 shares during the period. Davis Selected Advisers increased its position in Quest Diagnostics by 0.4% during the second quarter. Davis Selected Advisers now owns 2,390,828 shares of the medical research company’s stock worth $327,257,000 after acquiring an additional 9,665 shares during the period. Dimensional Fund Advisors LP increased its position in Quest Diagnostics by 6.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,109,515 shares of the medical research company’s stock worth $288,758,000 after acquiring an additional 129,395 shares during the period. Finally, Nuance Investments LLC increased its position in Quest Diagnostics by 13.1% during the first quarter. Nuance Investments LLC now owns 681,636 shares of the medical research company’s stock worth $90,733,000 after acquiring an additional 79,152 shares during the period. Institutional investors and hedge funds own 88.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Truist Financial raised their price target on shares of Quest Diagnostics from $158.00 to $165.00 and gave the stock a “hold” rating in a research report on Monday. Evercore ISI started coverage on shares of Quest Diagnostics in a report on Wednesday, August 28th. They issued an “in-line” rating and a $165.00 target price on the stock. Citigroup raised shares of Quest Diagnostics from a “neutral” rating to a “buy” rating and raised their target price for the company from $145.00 to $165.00 in a report on Wednesday, July 10th. Piper Sandler raised their target price on shares of Quest Diagnostics from $145.00 to $150.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Finally, Robert W. Baird raised their target price on shares of Quest Diagnostics from $153.00 to $154.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Ten investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Quest Diagnostics currently has a consensus rating of “Hold” and an average target price of $154.92.

Insider Buying and Selling

In related news, SVP Karthik Kuppusamy sold 1,990 shares of Quest Diagnostics 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 sale, the senior vice president now directly owns 11,459 shares in the company, valued at $1,756,206.34. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Karthik Kuppusamy sold 1,990 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $153.26, for a total value of $304,987.40. Following the transaction, the senior vice president now owns 11,459 shares in the company, valued at approximately $1,756,206.34. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Mark E. Delaney sold 420 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $143.08, for a total transaction of $60,093.60. Following the completion of the transaction, the senior vice president now owns 5,019 shares in the company, valued at $718,118.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.79% of the stock is owned by corporate insiders.

Quest Diagnostics Trading Up 1.3 %

Shares of Quest Diagnostics stock opened at $148.78 on Wednesday. The firm has a market capitalization of $16.53 billion, a PE ratio of 20.02, a price-to-earnings-growth ratio of 2.80 and a beta of 0.89. The company has a current ratio of 1.00, a quick ratio of 0.91 and a debt-to-equity ratio of 0.57. The firm’s 50 day moving average is $152.40 and its 200 day moving average is $143.13. Quest Diagnostics Incorporated has a 1 year low of $120.10 and a 1 year high of $159.36.

Quest Diagnostics (NYSE:DGX) last posted its earnings results on Tuesday, July 23rd. The medical research company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.31 by $0.04. Quest Diagnostics had a net margin of 8.99% and a return on equity of 15.35%. The business had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same period last year, the company earned $2.30 EPS. The firm’s revenue was up 2.5% compared to the same quarter last year. Equities 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. Investors of record on Friday, October 4th will be given a dividend of $0.75 per share. The ex-dividend date is Friday, October 4th. This represents a $3.00 annualized dividend and a yield of 2.02%. Quest Diagnostics’s dividend payout ratio is presently 40.38%.

About Quest Diagnostics

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.