IFM Investors Pty Ltd Acquires 1,505 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

IFM Investors Pty Ltd lifted its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 7.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,360 shares of the medical research company's stock after purchasing an additional 1,505 shares during the period. IFM Investors Pty Ltd's holdings in Quest Diagnostics were worth $3,471,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. First Horizon Advisors Inc. lifted its position in shares of Quest Diagnostics by 76.6% during the 1st quarter. First Horizon Advisors Inc. now owns 189 shares of the medical research company's stock worth $32,000 after purchasing an additional 82 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Quest Diagnostics by 9.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 18,010 shares of the medical research company's stock valued at $3,047,000 after purchasing an additional 1,566 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Quest Diagnostics by 10.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,577 shares of the medical research company's stock valued at $2,439,000 after acquiring an additional 1,348 shares in the last quarter. Perigon Wealth Management LLC bought a new stake in shares of Quest Diagnostics during the first quarter worth approximately $221,000. Finally, Cambridge Investment Research Advisors Inc. raised its position in shares of Quest Diagnostics by 23.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,908 shares of the medical research company's stock valued at $1,507,000 after buying an additional 1,693 shares in the last quarter. Hedge funds and other institutional investors own 88.06% of the company's stock.

Quest Diagnostics Trading Down 1.6%

NYSE:DGX traded down $2.71 during trading hours on Friday, reaching $168.74. The company's stock had a trading volume of 90,986 shares, compared to its average volume of 989,801. The firm has a market capitalization of $18.84 billion, a price-to-earnings ratio of 21.35, a PEG ratio of 2.42 and a beta of 0.49. The firm has a 50-day simple moving average of $176.08 and a 200-day simple moving average of $168.33. Quest Diagnostics Incorporated has a 1 year low of $137.71 and a 1 year high of $182.38. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.31 and a current ratio of 1.44.

Quest Diagnostics (NYSE:DGX - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The medical research company reported $2.21 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.06. The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.63 billion. Quest Diagnostics had a net margin of 8.81% and a return on equity of 15.11%. Research analysts expect that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, July 7th will be issued a dividend of $0.80 per share. The ex-dividend date is Monday, July 7th. This represents a $3.20 annualized dividend and a dividend yield of 1.90%. Quest Diagnostics's payout ratio is 40.46%.

Insider Buying and Selling

In other Quest Diagnostics news, SVP Mark E. Delaney sold 874 shares of the company's 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 sale, the senior vice president directly owned 8,372 shares of the company's stock, valued at approximately $1,471,127.84. This represents a 9.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.16% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Wall Street Zen cut shares of Quest Diagnostics from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. Barclays upped their price target on shares of Quest Diagnostics from $175.00 to $185.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. upped their price target on shares of Quest Diagnostics from $180.00 to $190.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Robert W. Baird upped their price target on shares of Quest Diagnostics from $191.00 to $194.00 and gave the company an "outperform" rating in a research report on Wednesday, April 23rd. Finally, Piper Sandler increased their price objective on shares of Quest Diagnostics from $180.00 to $200.00 and gave the stock a "neutral" rating in a research report on Monday, April 28th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $185.73.

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.