Fiera Capital Corp lowered its position in Quest Diagnostics Incorporated (NYSE:DGX – Free Report) by 34.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,265 shares of the medical research company’s stock after selling 1,700 shares during the quarter. Fiera Capital Corp’s holdings in Quest Diagnostics were worth $447,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of DGX. Norges Bank bought a new position in Quest Diagnostics in the fourth quarter worth approximately $140,472,000. Nuance Investments LLC purchased a new stake in shares of Quest Diagnostics during the 4th quarter valued at $83,070,000. Van Lanschot Kempen Investment Management N.V. purchased a new stake in shares of Quest Diagnostics during the 2nd quarter valued at $48,783,000. M&G Plc purchased a new stake in shares of Quest Diagnostics during the 1st quarter valued at $46,432,000. Finally, Vanguard Group Inc. lifted its holdings 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 valued at $1,853,151,000 after purchasing an additional 345,754 shares during the last quarter. Institutional investors own 88.06% of the company’s stock.
Insider Activity
In other news, SVP Karthik Kuppusamy sold 1,990 shares of the firm’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 sale, the senior vice president now directly owns 11,459 shares in the company, valued at approximately $1,756,206.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Mark E. Delaney sold 420 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $143.08, for a total transaction of $60,093.60. Following the sale, the senior vice president now directly owns 5,019 shares in the company, valued at approximately $718,118.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Karthik Kuppusamy sold 1,990 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were 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 $1,756,206.34. The disclosure for this sale can be found here. Insiders own 0.79% of the company’s stock.
Quest Diagnostics Price Performance
Quest Diagnostics (NYSE:DGX – Get Free Report) last announced its quarterly earnings results 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 company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.39 billion. Quest Diagnostics had a return on equity of 15.35% and a net margin of 8.99%. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the firm earned $2.30 EPS. Research analysts predict that Quest Diagnostics Incorporated will post 8.89 earnings per share for the current year.
Quest Diagnostics Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Stockholders 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 dividend yield of 1.95%. The ex-dividend date of this dividend is Friday, October 4th. Quest Diagnostics’s dividend payout ratio (DPR) is presently 40.38%.
Wall Street Analyst Weigh In
Several analysts have recently commented on the company. Truist Financial increased their price objective on Quest Diagnostics from $150.00 to $158.00 and gave the company a “hold” rating in a report on Monday, July 15th. Piper Sandler raised their target price on Quest Diagnostics from $145.00 to $150.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Barclays raised their target price on 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 raised their target price on Quest Diagnostics from $153.00 to $154.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $154.33.
View Our Latest Research Report on Quest Diagnostics
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.
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