Quest Diagnostics Incorporated (NYSE:DGX) Shares Bought by Board of the Pension Protection Fund

Board of the Pension Protection Fund lifted its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 316.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,500 shares of the medical research company's stock after buying an additional 1,900 shares during the period. Board of the Pension Protection Fund's holdings in Quest Diagnostics were worth $423,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Brighton Jones LLC acquired a new position in Quest Diagnostics during the fourth quarter worth $323,000. Atria Wealth Solutions Inc. boosted its holdings in shares of Quest Diagnostics by 16.0% during the fourth quarter. Atria Wealth Solutions Inc. now owns 3,075 shares of the medical research company's stock worth $464,000 after purchasing an additional 425 shares during the last quarter. Global Retirement Partners LLC grew its holdings in Quest Diagnostics by 45.3% in the 4th quarter. Global Retirement Partners LLC now owns 555 shares of the medical research company's stock valued at $84,000 after buying an additional 173 shares during the period. Wealthspire Advisors LLC grew its holdings in Quest Diagnostics by 7.0% in the fourth quarter. Wealthspire Advisors LLC now owns 3,693 shares of the medical research company's stock valued at $557,000 after purchasing an additional 240 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Quest Diagnostics by 14.8% during the 4th quarter. Bank of New York Mellon Corp now owns 881,764 shares of the medical research company's stock worth $133,023,000 after buying an additional 113,956 shares during the last quarter. Institutional investors and hedge funds own 88.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on DGX shares. Wall Street Zen lowered shares of Quest Diagnostics from a "buy" rating to a "hold" rating in a report on Saturday, June 7th. Redburn Partners set a $195.00 target price on Quest Diagnostics in a research note on Wednesday, April 2nd. JPMorgan Chase & Co. boosted 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. Redburn Atlantic assumed coverage on shares of Quest Diagnostics in a report on Wednesday, April 2nd. They set a "buy" rating and a $195.00 target price on the stock. Finally, Piper Sandler increased their price target on Quest Diagnostics from $180.00 to $200.00 and gave the stock a "neutral" rating in a research report on Monday, April 28th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $185.73.

Insiders Place Their Bets

In other news, SVP Karthik Kuppusamy sold 2,555 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $170.00, for a total transaction of $434,350.00. Following the transaction, the senior vice president now owns 10,575 shares of the company's stock, valued at approximately $1,797,750. This represents a 19.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Mark E. Delaney sold 874 shares of Quest Diagnostics stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $175.72, for a total transaction of $153,579.28. Following the completion of the transaction, the senior vice president now directly owns 8,372 shares in the company, valued at approximately $1,471,127.84. This represents a 9.45% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,620 shares of company stock worth $7,190,045. 8.16% of the stock is currently owned by company insiders.

Quest Diagnostics Stock Performance

DGX opened at $177.10 on Friday. The business has a 50 day moving average price of $175.49 and a two-hundred day moving average price of $166.81. Quest Diagnostics Incorporated has a 1-year low of $135.47 and a 1-year high of $182.38. The company has a market capitalization of $19.77 billion, a price-to-earnings ratio of 22.39, a price-to-earnings-growth ratio of 2.49 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 announced its quarterly earnings data on Tuesday, April 22nd. The medical research company reported $2.21 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.06. The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.63 billion. Quest Diagnostics had a return on equity of 15.11% and a net margin of 8.81%. Research analysts predict that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Shareholders of record on Monday, July 7th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.81%. The ex-dividend date is Monday, July 7th. Quest Diagnostics's dividend payout ratio (DPR) is currently 40.46%.

About Quest Diagnostics

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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