Natixis Advisors LLC Boosts Position in Quest Diagnostics Incorporated (NYSE:DGX)

Key Points

• Natixis Advisors LLC has increased its stake in Quest Diagnostics by 7.9%, owning 112,232 shares valued at approximately $18.99 million at the end of the last quarter.
• Quest Diagnostics announced a quarterly dividend of $0.80 per share, representing an annual yield of 1.9%, with a payout ratio of 38.32%.
• The company reported a 15.2% increase in quarterly revenue year-over-year, achieving $2.76 billion, along with earnings per share of $2.62, surpassing analysts' expectations.

Natixis Advisors LLC boosted its holdings in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 7.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 112,232 shares of the medical research company's stock after purchasing an additional 8,257 shares during the quarter. Natixis Advisors LLC owned about 0.10% of Quest Diagnostics worth $18,990,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its position in shares of Quest Diagnostics by 42.5% during the fourth 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 last quarter. Geode Capital Management LLC boosted its holdings in shares of Quest Diagnostics by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 2,690,021 shares of the medical research company's stock worth $404,764,000 after acquiring an additional 73,368 shares during the period. Grantham Mayo Van Otterloo & Co. LLC increased its position in shares of Quest Diagnostics by 1.2% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,268,990 shares of the medical research company's stock valued at $342,300,000 after buying an additional 26,214 shares during the period. Northern Trust Corp raised its position in shares of Quest Diagnostics by 18.7% in the fourth quarter. Northern Trust Corp now owns 1,196,429 shares of the medical research company's stock worth $180,493,000 after buying an additional 188,402 shares in the last quarter. Finally, FMR LLC lifted its position in Quest Diagnostics by 2.1% during the fourth quarter. FMR LLC now owns 1,137,114 shares of the medical research company's stock valued at $171,545,000 after purchasing an additional 23,425 shares during the last quarter. Institutional investors and hedge funds own 88.06% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on DGX shares. William Blair reiterated an "outperform" rating on shares of Quest Diagnostics in a research report on Wednesday, July 23rd. Truist Financial boosted their target price on shares of Quest Diagnostics from $190.00 to $192.00 and gave the company a "hold" rating in a report on Wednesday, July 23rd. Evercore ISI set a $185.00 target price on shares of Quest Diagnostics in a report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft lifted their price target on Quest Diagnostics from $160.00 to $178.00 and gave the stock a "hold" rating in a research report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. boosted their target price on Quest Diagnostics from $180.00 to $190.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $186.00.

Insider Buying and Selling at Quest Diagnostics

In related news, SVP Karthik Kuppusamy sold 2,210 shares of the 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 transaction, the senior vice president owned 8,450 shares of the company's stock, valued at approximately $1,436,500. This represents a 20.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Mark E. Delaney sold 874 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $175.72, for a total value of $153,579.28. Following the transaction, the senior vice president directly owned 8,372 shares in the company, valued at approximately $1,471,127.84. The trade was a 9.45% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,353 shares of company stock valued at $1,913,510. 8.16% of the stock is owned by company insiders.

Quest Diagnostics Trading Up 0.7%

DGX stock traded up $1.28 during midday trading on Thursday, reaching $174.28. The company's stock had a trading volume of 622,388 shares, compared to its average volume of 1,188,656. The firm has a market capitalization of $19.49 billion, a price-to-earnings ratio of 20.87, a PEG ratio of 2.30 and a beta of 0.46. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.99 and a current ratio of 1.09. Quest Diagnostics Incorporated has a 1 year low of $145.43 and a 1 year high of $182.38. The stock has a fifty day simple moving average of $174.07 and a two-hundred day simple moving average of $170.59.

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

Quest Diagnostics Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Monday, July 7th were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.8%. The ex-dividend date was Monday, July 7th. Quest Diagnostics's dividend payout ratio is presently 38.32%.

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.