Renaissance Technologies LLC Has $11.51 Million Stake in Quest Diagnostics Incorporated (NYSE:DGX)

Renaissance Technologies LLC lowered its position in Quest Diagnostics Incorporated (NYSE:DGX) by 57.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 84,100 shares of the medical research company’s stock after selling 114,763 shares during the period. Renaissance Technologies LLC owned 0.08% of Quest Diagnostics worth $11,512,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DGX. Gryphon Financial Partners LLC raised its holdings in shares of Quest Diagnostics by 10.9% during the 4th quarter. Gryphon Financial Partners LLC now owns 2,260 shares of the medical research company’s stock valued at $314,000 after purchasing an additional 223 shares in the last quarter. Corient Private Wealth LLC lifted its position in shares of Quest Diagnostics by 14.7% in the fourth quarter. Corient Private Wealth LLC now owns 41,413 shares of the medical research company’s stock worth $5,710,000 after buying an additional 5,308 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of Quest Diagnostics during the 4th quarter worth about $1,473,000. Assetmark Inc. increased its holdings in shares of Quest Diagnostics by 13.7% during the 4th quarter. Assetmark Inc. now owns 5,788 shares of the medical research company’s stock valued at $798,000 after acquiring an additional 699 shares during the last quarter. Finally, US Bancorp DE raised its stake in shares of Quest Diagnostics by 0.8% in the 4th quarter. US Bancorp DE now owns 23,716 shares of the medical research company’s stock valued at $3,270,000 after acquiring an additional 186 shares in the last quarter. Institutional investors own 88.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. upped their target price on Quest Diagnostics from $152.00 to $155.00 and gave the stock a “neutral” rating in a research report on Thursday, May 30th. 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 research note on Wednesday, July 24th. Barclays boosted their target price on shares of Quest Diagnostics from $144.00 to $154.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 27th. Evercore ISI began coverage on Quest Diagnostics in a research report on Wednesday, August 28th. They issued an “in-line” rating and a $165.00 price target on the stock. Finally, Truist Financial boosted their price objective on Quest Diagnostics from $150.00 to $158.00 and gave the stock a “hold” rating in a research report on Monday, July 15th. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $154.33.

Quest Diagnostics Trading Down 1.4 %

Shares of DGX opened at $152.99 on Monday. The stock’s 50-day moving average price is $150.61 and its 200 day moving average price is $141.09. 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 $17.00 billion, a price-to-earnings ratio of 20.59, a P/E/G ratio of 2.80 and a beta of 0.89. Quest Diagnostics Incorporated has a 12-month low of $119.59 and a 12-month high of $159.36.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings data on Tuesday, July 23rd. The medical research company reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.04. The business had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.39 billion. Quest Diagnostics had a return on equity of 15.35% and a net margin of 8.99%. Quest Diagnostics’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the business posted $2.30 earnings per share. As a group, 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. The ex-dividend date of this dividend is Friday, October 4th. This represents a $3.00 annualized dividend and a dividend yield of 1.96%. Quest Diagnostics’s dividend payout ratio (DPR) is currently 40.38%.

Insider Activity at Quest Diagnostics

In other Quest Diagnostics news, 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 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 $1,756,206.34. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Quest Diagnostics news, SVP Mark E. Delaney sold 420 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $143.08, for a total value of $60,093.60. Following 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 accessible through this hyperlink. Also, SVP Karthik Kuppusamy sold 1,990 shares of Quest Diagnostics stock in a transaction 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 directly owns 11,459 shares of the company’s stock, valued at $1,756,206.34. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by insiders.

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.