Quest Diagnostics Incorporated (NYSE:DGX) Shares Acquired by National Bank of Canada FI

Key Points

• National Bank of Canada FI increased its stake in Quest Diagnostics by 43.3% in the first quarter, owning a total of 74,888 shares valued at approximately $12.67 million.
• Quest Diagnostics recently announced a quarterly dividend of $0.80 per share, yielding 1.8%, with a payout ratio of 38.32%.
• Analyst ratings for Quest Diagnostics show a consensus rating of "Moderate Buy", with an average target price of $186.00.

National Bank of Canada FI boosted its position in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 43.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 74,888 shares of the medical research company's stock after purchasing an additional 22,626 shares during the quarter. National Bank of Canada FI owned about 0.07% of Quest Diagnostics worth $12,672,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its holdings in shares of Quest Diagnostics by 42.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,490,278 shares of the medical research company's stock valued at $828,265,000 after acquiring an additional 1,637,525 shares during the period. Northern Trust Corp increased its holdings in shares of Quest Diagnostics by 18.7% in the 4th quarter. Northern Trust Corp now owns 1,196,429 shares of the medical research company's stock valued at $180,493,000 after acquiring an additional 188,402 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Quest Diagnostics by 14.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,002,379 shares of the medical research company's stock valued at $151,219,000 after acquiring an additional 128,285 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in shares of Quest Diagnostics by 2.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 765,938 shares of the medical research company's stock valued at $127,131,000 after acquiring an additional 17,258 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Quest Diagnostics by 0.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 740,838 shares of the medical research company's stock valued at $125,350,000 after acquiring an additional 4,405 shares during the period. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Truist Financial raised their price objective on Quest Diagnostics from $190.00 to $192.00 and gave the stock a "hold" rating in a research report on Wednesday, July 23rd. Robert W. Baird raised their price objective on Quest Diagnostics from $191.00 to $194.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 23rd. UBS Group lowered their price objective on Quest Diagnostics from $176.00 to $175.00 and set a "neutral" rating for the company in a research report on Friday, July 18th. Barclays raised their price objective on Quest Diagnostics from $175.00 to $185.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 23rd. Finally, Evercore ISI set a $185.00 price objective on Quest Diagnostics in a research report on Wednesday, July 23rd. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $186.00.

Quest Diagnostics Stock Up 0.7%

Shares of NYSE DGX traded up $1.23 during mid-day trading on Friday, hitting $179.67. The company had a trading volume of 810,247 shares, compared to its average volume of 1,287,668. The company has a market capitalization of $20.09 billion, a PE ratio of 21.52, a price-to-earnings-growth ratio of 2.37 and a beta of 0.46. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.09 and a quick ratio of 0.99. Quest Diagnostics Incorporated has a 1-year low of $146.17 and a 1-year high of $182.38. The business's 50-day simple moving average is $174.68 and its 200 day simple moving average is $171.73.

Quest Diagnostics (NYSE:DGX - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The medical research company reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.57 by $0.05. The business had revenue of $2.76 billion for the quarter, compared to analysts' expectations of $2.73 billion. Quest Diagnostics had a return on equity of 15.24% and a net margin of 9.01%. The company's revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period last year, the firm earned $2.35 earnings per share. On average, analysts predict that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current year.

Quest Diagnostics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Friday, October 3rd will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, October 3rd. Quest Diagnostics's dividend payout ratio (DPR) is presently 38.32%.

Insider Buying and Selling at Quest Diagnostics

In other Quest Diagnostics news, SVP Karthik Kuppusamy sold 2,210 shares of Quest Diagnostics stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $170.00, for a total transaction of $375,700.00. Following the completion of the sale, the senior vice president directly owned 8,450 shares of the company's stock, valued at $1,436,500. The trade was a 20.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Patrick Plewman sold 5,535 shares of Quest Diagnostics stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $175.00, for a total value of $968,625.00. Following the sale, the senior vice president directly owned 19,219 shares of the company's stock, valued at $3,363,325. This trade represents a 22.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,014 shares of company stock worth $2,728,556. Insiders own 8.16% of the company's stock.

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.