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

IFM Investors Pty Ltd grew its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 7.2% during the 1st quarter, according to its most recent 13F filing with the Securities and 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 reporting period.

Several other large investors have also recently bought and sold shares of the business. Bruce G. Allen Investments LLC grew its stake in shares of Quest Diagnostics by 57.8% during the 1st quarter. Bruce G. Allen Investments LLC now owns 183 shares of the medical research company's stock worth $31,000 after purchasing an additional 67 shares during the period. First Horizon Advisors Inc. grew its position in Quest Diagnostics by 76.6% during the first quarter. First Horizon Advisors Inc. now owns 189 shares of the medical research company's stock worth $32,000 after buying an additional 82 shares during the period. Golden State Wealth Management LLC increased its holdings in Quest Diagnostics by 157.3% in the first quarter. Golden State Wealth Management LLC now owns 193 shares of the medical research company's stock valued at $33,000 after buying an additional 118 shares in the last quarter. NBC Securities Inc. acquired a new stake in shares of Quest Diagnostics during the 1st quarter valued at approximately $35,000. Finally, Continuum Advisory LLC boosted its stake in shares of Quest Diagnostics by 11,100.0% during the 1st quarter. Continuum Advisory LLC now owns 224 shares of the medical research company's stock worth $38,000 after acquiring an additional 222 shares in the last quarter. Hedge funds and other institutional investors own 88.06% of the company's stock.

Wall Street Analysts Forecast Growth

DGX has been the subject of several recent research reports. Mizuho raised their target price on shares of Quest Diagnostics from $178.00 to $189.00 and gave the company an "outperform" rating in a report on Wednesday, April 9th. Barclays lifted 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. Piper Sandler increased their target price on Quest Diagnostics from $180.00 to $200.00 and gave the company a "neutral" rating in a report on Monday, April 28th. Evercore ISI boosted 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. Finally, Wall Street Zen cut Quest Diagnostics from a "buy" rating to a "hold" rating in a research report on Saturday, June 7th. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Quest Diagnostics has a consensus rating of "Moderate Buy" and a consensus target price of $185.73.

Quest Diagnostics Stock Up 0.6%

Shares of DGX traded up $1.06 during trading hours on Wednesday, hitting $173.56. 870,970 shares of the company were exchanged, compared to its average volume of 992,548. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.31 and a current ratio of 1.44. The company has a market cap of $19.38 billion, a PE ratio of 21.94, a PEG ratio of 2.41 and a beta of 0.49. The firm's 50 day moving average is $176.29 and its 200-day moving average is $168.16. Quest Diagnostics Incorporated has a 52 week low of $137.71 and a 52 week high of $182.38.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.06. Quest Diagnostics had a return on equity of 15.11% and a net margin of 8.81%. The firm had revenue of $2.65 billion during the quarter, compared to analysts' expectations of $2.63 billion. On average, equities research analysts forecast that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Investors 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 yield of 1.84%. Quest Diagnostics's dividend payout ratio (DPR) is presently 40.46%.

Insiders Place Their Bets

In other news, SVP Mark E. Delaney sold 874 shares of the firm's 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 sale, the senior vice president directly owned 8,372 shares of the company's stock, valued at approximately $1,471,127.84. This trade represents a 9.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.16% of the stock is currently owned by corporate insiders.

Quest Diagnostics 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.