Mitsubishi UFJ Asset Management UK Ltd. Has $1.35 Million Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

Key Points

• Mitsubishi UFJ Asset Management UK Ltd. reduced its holdings in Quest Diagnostics by 63.6% in the first quarter, now owning 8,000 shares valued at approximately $1.35 million.
• Several institutional investors increased their stakes in Quest Diagnostics, with notable increases of 157.3% and 11,100% from Golden State Wealth Management and Continuum Advisory LLC, respectively.
• Quest Diagnostics recently announced a quarterly dividend of $0.80, resulting in an annualized yield of 1.8%, and reported a net margin of 9.01% with a quarterly revenue increase of 15.2% year-over-year.

Mitsubishi UFJ Asset Management UK Ltd. lessened its holdings in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 63.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,000 shares of the medical research company's stock after selling 14,000 shares during the period. Mitsubishi UFJ Asset Management UK Ltd.'s holdings in Quest Diagnostics were worth $1,354,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bruce G. Allen Investments LLC lifted its position in Quest Diagnostics by 57.8% during the 1st quarter. Bruce G. Allen Investments LLC now owns 183 shares of the medical research company's stock worth $31,000 after acquiring an additional 67 shares during the last quarter. First Horizon Advisors Inc. grew its position in Quest Diagnostics by 76.6% during the first quarter. First Horizon Advisors Inc. now owns 189 shares of the medical research company's stock worth $32,000 after buying an additional 82 shares in the last quarter. Golden State Wealth Management LLC grew its position in Quest Diagnostics by 157.3% during the first quarter. Golden State Wealth Management LLC now owns 193 shares of the medical research company's stock worth $33,000 after buying an additional 118 shares in the last quarter. NBC Securities Inc. acquired a new stake in shares of Quest Diagnostics during the 1st quarter worth approximately $35,000. Finally, Continuum Advisory LLC increased its position in shares of Quest Diagnostics by 11,100.0% during the first quarter. Continuum Advisory LLC now owns 224 shares of the medical research company's stock valued at $38,000 after purchasing an additional 222 shares during the period. Institutional investors and hedge funds own 88.06% of the company's stock.

Insider Activity at Quest Diagnostics

In related news, SVP Patrick Plewman sold 5,535 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $175.00, for a total value of $968,625.00. Following the transaction, the senior vice president directly owned 19,219 shares in the company, valued at $3,363,325. This represents a 22.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Karthik Kuppusamy sold 8,269 shares of the stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $167.40, for a total transaction of $1,384,230.60. Following the completion of the transaction, the senior vice president owned 10,660 shares in the company, valued at $1,784,484. This represents a 43.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,014 shares of company stock worth $2,728,556 over the last 90 days. 8.16% of the stock is currently owned by company insiders.

Quest Diagnostics Price Performance

Shares of DGX stock opened at $178.98 on Thursday. Quest Diagnostics Incorporated has a 1 year low of $146.17 and a 1 year high of $182.38. The firm's 50 day moving average is $174.48 and its 200-day moving average is $171.45. The firm has a market capitalization of $20.01 billion, a price-to-earnings ratio of 21.43, a PEG ratio of 2.37 and a beta of 0.46. The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 0.71.

Quest Diagnostics (NYSE:DGX - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The medical research company reported $2.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.57 by $0.05. Quest Diagnostics had a net margin of 9.01% and a return on equity of 15.24%. The company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.73 billion. During the same period in the prior year, the business earned $2.35 earnings per share. Quest Diagnostics's quarterly revenue was up 15.2% on a year-over-year basis. Sell-side analysts forecast that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Friday, October 3rd will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.8%. Quest Diagnostics's dividend payout ratio is currently 38.32%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. William Blair restated an "outperform" rating on shares of Quest Diagnostics in a research note on Wednesday, July 23rd. Truist Financial upped their target price on Quest Diagnostics from $190.00 to $192.00 and gave the company a "hold" rating in a research note on Wednesday, July 23rd. Evercore ISI set a $185.00 target price on shares of Quest Diagnostics in a research note on Wednesday, July 23rd. Barclays upped their target price on shares of Quest Diagnostics from $175.00 to $185.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 23rd. Finally, Piper Sandler upped their target price on shares of Quest Diagnostics from $180.00 to $200.00 and gave the company a "neutral" rating in a research note on Monday, April 28th. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Quest Diagnostics has a consensus rating of "Moderate Buy" and an average price target of $186.00.

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.

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