Handelsbanken Fonder AB Has $4.34 Million Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

Handelsbanken Fonder AB cut its stake in Quest Diagnostics Incorporated (NYSE:DGX) by 3.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,946 shares of the medical research company’s stock after selling 923 shares during the period. Handelsbanken Fonder AB’s holdings in Quest Diagnostics were worth $4,339,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Evercore Wealth Management LLC acquired a new position in Quest Diagnostics during the 4th quarter worth $262,000. Sei Investments Co. boosted its holdings in Quest Diagnostics by 0.8% in the fourth quarter. Sei Investments Co. now owns 246,025 shares of the medical research company’s stock valued at $33,922,000 after acquiring an additional 1,886 shares during the last quarter. Pathstone Holdings LLC acquired a new stake in Quest Diagnostics in the fourth quarter worth about $46,342,000. Wellington Wealth Strategies LLC. bought a new stake in Quest Diagnostics during the 4th quarter worth about $339,000. Finally, V Square Quantitative Management LLC lifted its position in Quest Diagnostics by 23.8% during the 4th quarter. V Square Quantitative Management LLC now owns 2,658 shares of the medical research company’s stock valued at $366,000 after purchasing an additional 511 shares during the period. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Karthik Kuppusamy sold 1,990 shares of the 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 directly owns 11,459 shares in the company, valued at approximately $1,756,206.34. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Karthik Kuppusamy sold 1,990 shares of the firm’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 transaction of $304,987.40. Following the completion of the transaction, the senior vice president now directly owns 11,459 shares of the company’s stock, valued at $1,756,206.34. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Mark E. Delaney sold 420 shares of Quest Diagnostics 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 in the company, valued at $718,118.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.79% of the company’s stock.

Quest Diagnostics Price Performance

Shares of DGX opened at $148.78 on Wednesday. The stock has a 50 day simple moving average of $152.40 and a 200 day simple moving average of $143.13. Quest Diagnostics Incorporated has a 52-week low of $120.10 and a 52-week high of $159.36. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.91 and a current ratio of 1.00. The firm has a market capitalization of $16.53 billion, a PE ratio of 20.02, a P/E/G ratio of 2.80 and a beta of 0.89.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings results on Tuesday, July 23rd. The medical research company reported $2.35 earnings per share for the quarter, beating 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 company had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.39 billion. During the same quarter in the prior year, the company earned $2.30 earnings per share. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. Sell-side analysts predict that Quest Diagnostics Incorporated will post 8.89 EPS for the current fiscal year.

Quest Diagnostics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Friday, October 4th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Friday, October 4th. Quest Diagnostics’s dividend payout ratio is 40.38%.

Analysts Set New Price Targets

DGX has been the subject of a number of recent research reports. Barclays boosted their price target on shares of Quest Diagnostics from $144.00 to $154.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 27th. Robert W. Baird upped their target price on shares of Quest Diagnostics from $153.00 to $154.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. StockNews.com downgraded Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Monday. Piper Sandler lifted their price objective on Quest Diagnostics from $145.00 to $150.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Finally, Truist Financial increased their target price on Quest Diagnostics from $158.00 to $165.00 and gave the company a “hold” rating in a research note on Monday. Ten investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $154.92.

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.