Mitsubishi UFJ Asset Management Co. Ltd. Has $26.95 Million Position in Quest Diagnostics Incorporated (NYSE:DGX)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Quest Diagnostics Incorporated (NYSE:DGX) by 5.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 177,389 shares of the medical research company’s stock after purchasing an additional 8,665 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Quest Diagnostics were worth $26,949,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Sierra Ocean LLC acquired a new stake in shares of Quest Diagnostics in the fourth quarter valued at approximately $33,000. Versant Capital Management Inc raised its holdings in Quest Diagnostics by 340.4% in the 4th quarter. Versant Capital Management Inc now owns 251 shares of the medical research company’s stock valued at $38,000 after acquiring an additional 194 shares in the last quarter. First Financial Corp IN bought a new stake in shares of Quest Diagnostics during the 4th quarter valued at $38,000. FPC Investment Advisory Inc. acquired a new stake in shares of Quest Diagnostics during the 4th quarter worth $45,000. Finally, Global Trust Asset Management LLC acquired a new stake in shares of Quest Diagnostics during the 4th quarter worth $49,000. Institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Stock Performance

NYSE:DGX opened at $167.28 on Monday. The stock’s 50-day moving average is $166.64 and its 200-day moving average is $159.09. Quest Diagnostics Incorporated has a 1-year low of $125.42 and a 1-year high of $178.87. The company has a current ratio of 1.10, a quick ratio of 1.02 and a debt-to-equity ratio of 0.82. The stock has a market cap of $18.56 billion, a P/E ratio of 21.75, a price-to-earnings-growth ratio of 2.16 and a beta of 0.92.

Quest Diagnostics (NYSE:DGX) last posted its earnings results on Thursday, January 30th. The medical research company reported $2.23 earnings per share for the quarter, topping analysts’ consensus estimates of $2.19 by $0.04. Quest Diagnostics had a net margin of 8.80% and a return on equity of 15.07%. Equities research analysts anticipate that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current year.

Quest Diagnostics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Monday, April 7th. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.75. Quest Diagnostics’s payout ratio is 41.61%.

Insider Activity

In related news, EVP Catherine T. Doherty sold 535 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $169.71, for a total value of $90,794.85. Following the transaction, the executive vice president now owns 71,356 shares in the company, valued at $12,109,826.76. The trade was a 0.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Mark E. Delaney sold 403 shares of Quest Diagnostics stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $164.30, for a total value of $66,212.90. Following the completion of the sale, the senior vice president now owns 4,624 shares of the company’s stock, valued at approximately $759,723.20. The trade was a 8.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,157 shares of company stock valued at $2,423,755. Company insiders own 0.79% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on DGX. Morgan Stanley raised shares of Quest Diagnostics from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $145.00 to $172.00 in a research report on Tuesday, December 17th. Citigroup downgraded shares of Quest Diagnostics from a “buy” rating to a “neutral” rating and set a $185.00 price target for the company. in a report on Tuesday, March 4th. Truist Financial lifted their price objective on shares of Quest Diagnostics from $172.00 to $182.00 and gave the company a “hold” rating in a research note on Friday, January 31st. Leerink Partnrs upgraded Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, UBS Group lifted their price target on Quest Diagnostics from $166.00 to $170.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Eight equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Quest Diagnostics has a consensus rating of “Moderate Buy” and an average price target of $178.38.

Quest Diagnostics Company 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.