Envestnet Asset Management Inc. Purchases 6,230 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

Envestnet Asset Management Inc. raised its position in Quest Diagnostics Incorporated (NYSE:DGX) by 2.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 226,598 shares of the medical research company’s stock after purchasing an additional 6,230 shares during the period. Envestnet Asset Management Inc. owned approximately 0.20% of Quest Diagnostics worth $31,017,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Quest Diagnostics in the fourth quarter valued at approximately $140,472,000. Van Lanschot Kempen Investment Management N.V. acquired a new position in shares of Quest Diagnostics in the second quarter valued at approximately $48,783,000. M&G Plc acquired a new position in shares of Quest Diagnostics in the first quarter valued at approximately $46,432,000. Vanguard Group Inc. boosted its holdings in shares of Quest Diagnostics by 2.5% in the first quarter. Vanguard Group Inc. now owns 13,921,955 shares of the medical research company’s stock valued at $1,853,151,000 after buying an additional 345,754 shares during the period. Finally, Pathstone Holdings LLC acquired a new position in shares of Quest Diagnostics in the fourth quarter valued at approximately $46,342,000. Institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Stock Performance

Shares of NYSE DGX opened at $152.99 on Friday. Quest Diagnostics Incorporated has a 12 month low of $119.59 and a 12 month high of $159.36. The stock has a 50 day moving average of $150.61 and a 200-day moving average of $140.88. 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 company has a market capitalization of $17.00 billion, a P/E ratio of 20.59, a P/E/G ratio of 2.80 and a beta of 0.89.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings data on Tuesday, July 23rd. The medical research company reported $2.35 EPS for the quarter, beating the consensus estimate of $2.31 by $0.04. The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate 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 period in the previous year, the company earned $2.30 earnings per share. As a group, equities research analysts predict that Quest Diagnostics Incorporated will post 8.89 EPS for the current year.

Quest Diagnostics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Shareholders 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 1.96%. Quest Diagnostics’s dividend payout ratio (DPR) is presently 40.38%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on DGX. StockNews.com upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. Robert W. Baird increased their target price on shares of Quest Diagnostics from $153.00 to $154.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Barclays lifted their price target 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. Piper Sandler increased their price objective on shares of Quest Diagnostics from $145.00 to $150.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Finally, JPMorgan Chase & Co. lifted their target price on Quest Diagnostics from $152.00 to $155.00 and gave the company a “neutral” rating in a research report on Thursday, May 30th. Nine analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Quest Diagnostics presently has an average rating of “Hold” and a consensus price target of $154.33.

Insiders Place Their Bets

In other Quest Diagnostics news, SVP Mark E. Delaney sold 420 shares of the firm’s 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 directly owns 5,019 shares in the company, valued at $718,118.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Quest Diagnostics news, SVP Mark E. Delaney sold 420 shares of the firm’s 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 directly owns 5,019 shares in the company, valued at $718,118.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Karthik Kuppusamy sold 1,990 shares of the firm’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 transaction of $304,987.40. Following the sale, the senior vice president now owns 11,459 shares of the company’s stock, valued at $1,756,206.34. The disclosure for this sale can be found here. Company insiders own 0.79% of the company’s stock.

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.