Quest Diagnostics Incorporated (NYSE:DGX) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale lessened its position in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 4.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 733,633 shares of the medical research company’s stock after selling 32,305 shares during the quarter. DekaBank Deutsche Girozentrale owned approximately 0.66% of Quest Diagnostics worth $100,805,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue raised its holdings in Quest Diagnostics by 50.9% in the 1st quarter. State of Alaska Department of Revenue now owns 41,796 shares of the medical research company’s stock valued at $5,562,000 after acquiring an additional 14,090 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Quest Diagnostics by 5.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 135,148 shares of the medical research company’s stock valued at $18,634,000 after acquiring an additional 7,415 shares during the last quarter. Scarborough Advisors LLC purchased a new position in shares of Quest Diagnostics during the 4th quarter worth about $1,562,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Quest Diagnostics by 16.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 131,329 shares of the medical research company’s stock worth $17,481,000 after purchasing an additional 18,642 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake 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 purchasing an additional 345,754 shares during the period. 88.06% of the stock is owned by institutional investors and hedge funds.

Quest Diagnostics Price Performance

Shares of DGX opened at $154.36 on Friday. 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 has a market cap of $17.18 billion, a price-to-earnings ratio of 20.78, a PEG ratio of 2.80 and a beta of 0.89. Quest Diagnostics Incorporated has a 52 week low of $119.59 and a 52 week high of $159.36. The stock has a 50 day moving average of $149.21 and a 200-day moving average of $139.85.

Quest Diagnostics (NYSE:DGX) last issued its earnings results on Tuesday, July 23rd. The medical research company reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $2.39 billion. During the same period in the prior year, the company earned $2.30 earnings per share. The firm’s revenue was up 2.5% compared to the same quarter last year. As a group, analysts forecast that Quest Diagnostics Incorporated will post 8.89 EPS for the current year.

Quest Diagnostics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Friday, October 4th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.94%. The ex-dividend date is Friday, October 4th. Quest Diagnostics’s dividend payout ratio (DPR) is 40.38%.

Insider Activity at Quest Diagnostics

In other Quest Diagnostics news, SVP Karthik Kuppusamy sold 1,990 shares of the business’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 directly owns 11,459 shares of the company’s stock, valued at approximately $1,756,206.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Mark E. Delaney sold 420 shares of the company’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 value of $60,093.60. Following the completion of the sale, the senior vice president now directly owns 5,019 shares of the company’s stock, valued at approximately $718,118.52. The sale was disclosed in a document filed with the SEC, 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 shares were sold at an average price of $153.26, for a total transaction 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 disclosure for this sale can be found here. Insiders own 0.79% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. StockNews.com raised Quest Diagnostics from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Robert W. Baird lifted their price target 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. Citigroup raised shares of Quest Diagnostics from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $145.00 to $165.00 in a research report on Wednesday, July 10th. Evercore ISI initiated coverage on Quest Diagnostics in a report on Wednesday, August 28th. They issued an “in-line” rating and a $165.00 price target for the company. Finally, Piper Sandler boosted 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. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Quest Diagnostics presently has an average rating of “Hold” and a consensus price target of $154.33.

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.