Quest Diagnostics Incorporated (NYSE:DGX) Stake Boosted by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 14.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,002,379 shares of the medical research company's stock after purchasing an additional 128,285 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.90% of Quest Diagnostics worth $151,219,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Woodline Partners LP grew its stake in Quest Diagnostics by 6.7% in the 4th quarter. Woodline Partners LP now owns 504,596 shares of the medical research company's stock valued at $76,123,000 after acquiring an additional 31,535 shares during the period. Victrix Investment Advisors purchased a new stake in Quest Diagnostics during the fourth quarter worth about $241,000. Vident Advisory LLC increased its stake in Quest Diagnostics by 31.7% during the fourth quarter. Vident Advisory LLC now owns 2,423 shares of the medical research company's stock worth $366,000 after purchasing an additional 583 shares during the period. WBI Investments LLC purchased a new stake in Quest Diagnostics during the fourth quarter worth about $4,176,000. Finally, Twinbeech Capital LP purchased a new stake in Quest Diagnostics during the fourth quarter worth about $3,025,000. 88.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on DGX. Citigroup lowered shares of Quest Diagnostics from a "buy" rating to a "neutral" rating and set a $185.00 target price on the stock. in a research note on Tuesday, March 4th. JPMorgan Chase & Co. increased their price objective on Quest Diagnostics from $180.00 to $190.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Evercore ISI increased their price target on Quest Diagnostics from $175.00 to $180.00 and gave the stock an "in-line" rating in a report on Wednesday, April 23rd. Truist Financial increased their price objective on Quest Diagnostics from $182.00 to $190.00 and gave the stock a "hold" rating in a research report on Wednesday, April 23rd. Finally, Barclays raised their price target on Quest Diagnostics from $175.00 to $185.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 23rd. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Quest Diagnostics has a consensus rating of "Moderate Buy" and a consensus price target of $185.73.

Quest Diagnostics Stock Up 0.1%

DGX stock traded up $0.15 during mid-day trading on Thursday, reaching $171.53. 203,604 shares of the company traded hands, compared to its average volume of 988,682. Quest Diagnostics Incorporated has a fifty-two week low of $135.47 and a fifty-two week high of $179.99. The firm's 50 day moving average price is $170.67 and its 200 day moving average price is $164.50. The stock has a market cap of $19.15 billion, a price-to-earnings ratio of 22.32, a P/E/G ratio of 2.16 and a beta of 0.52. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.82.

Quest Diagnostics (NYSE:DGX - Get Free Report) last announced its quarterly earnings data 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 net margin of 8.80% and a return on equity of 15.07%. The business had revenue of $2.65 billion for the quarter, compared to analysts' expectations of $2.63 billion. As a group, equities research analysts predict that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 21st. Stockholders 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 annualized dividend and a dividend yield of 1.87%. Quest Diagnostics's dividend payout ratio is currently 40.46%.

Insider Activity

In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 4,643 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $170.00, for a total transaction of $789,310.00. Following the completion of the transaction, the senior vice president now directly owns 38,117 shares in the company, valued at approximately $6,479,890. This represents a 10.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Catherine T. Doherty sold 5,370 shares of the company's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $174.13, for a total transaction of $935,078.10. Following the sale, the executive vice president now directly owns 68,068 shares of the company's stock, valued at $11,852,680.84. The trade was a 7.31% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,633 shares of company stock worth $8,914,433. 8.16% of the stock is currently owned by corporate insiders.

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.