Fifth Third Bancorp Has $1.67 Million Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

Fifth Third Bancorp lifted its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 110.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,843 shares of the medical research company's stock after purchasing an additional 5,167 shares during the quarter. Fifth Third Bancorp's holdings in Quest Diagnostics were worth $1,665,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Bruce G. Allen Investments LLC boosted its position in Quest Diagnostics by 57.8% in the first quarter. Bruce G. Allen Investments LLC now owns 183 shares of the medical research company's stock valued at $31,000 after buying an additional 67 shares in the last quarter. NBC Securities Inc. acquired a new position in shares of Quest Diagnostics during the first quarter worth $35,000. Sierra Ocean LLC bought a new position in shares of Quest Diagnostics in the 4th quarter valued at $33,000. FPC Investment Advisory Inc. acquired a new stake in shares of Quest Diagnostics during the 4th quarter valued at $45,000. Finally, SBI Securities Co. Ltd. bought a new stake in Quest Diagnostics during the 4th quarter worth $54,000. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on DGX shares. Truist Financial increased their target price on Quest Diagnostics from $182.00 to $190.00 and gave the company a "hold" rating in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. upped their price objective on Quest Diagnostics from $180.00 to $190.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Redburn Atlantic started coverage on shares of Quest Diagnostics in a research report on Wednesday, April 2nd. They set a "buy" rating and a $195.00 target price on the stock. Piper Sandler upped their price target on shares of Quest Diagnostics from $180.00 to $200.00 and gave the company a "neutral" rating in a research report on Monday, April 28th. Finally, Mizuho raised their price target on shares of Quest Diagnostics from $178.00 to $189.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $185.73.

Quest Diagnostics Trading Down 1.7%

Shares of DGX traded down $3.12 during trading hours on Tuesday, hitting $178.95. 871,876 shares of the stock were exchanged, compared to its average volume of 990,224. Quest Diagnostics Incorporated has a fifty-two week low of $135.47 and a fifty-two week high of $182.38. The business has a 50-day moving average of $173.21 and a 200-day moving average of $165.82. The firm has a market capitalization of $19.98 billion, a P/E ratio of 20.03, a price-to-earnings-growth ratio of 2.54 and a beta of 0.49. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.44 and a quick ratio of 1.31.

Quest Diagnostics (NYSE:DGX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The medical research company reported $2.21 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.06. Quest Diagnostics had a return on equity of 15.11% and a net margin of 8.81%. The firm had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.63 billion. On average, research analysts expect that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Shareholders of record on Monday, July 7th will be issued a $0.80 dividend. The ex-dividend date is Monday, July 7th. This represents a $3.20 dividend on an annualized basis and a yield of 1.79%. Quest Diagnostics's payout ratio is currently 40.46%.

Insider Buying and Selling at Quest Diagnostics

In other news, SVP Karthik Kuppusamy sold 2,555 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $170.00, for a total transaction of $434,350.00. Following the completion of the sale, the senior vice president now owns 10,575 shares of the company's stock, valued at $1,797,750. This trade represents a 19.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO J. E. Davis sold 39,191 shares of the business's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $168.46, for a total transaction of $6,602,115.86. Following the transaction, the chief executive officer now owns 127,623 shares in the company, valued at $21,499,370.58. The trade was a 23.49% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,620 shares of company stock valued at $7,190,045. 8.16% of the stock is currently owned by company insiders.

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.