IFM Investors Pty Ltd Increases Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

IFM Investors Pty Ltd increased its position in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 7.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,360 shares of the medical research company's stock after acquiring an additional 1,505 shares during the quarter. IFM Investors Pty Ltd's holdings in Quest Diagnostics were worth $3,471,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of DGX. First Horizon Advisors Inc. boosted its position in Quest Diagnostics by 76.6% in the first quarter. First Horizon Advisors Inc. now owns 189 shares of the medical research company's stock valued at $32,000 after buying an additional 82 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Quest Diagnostics by 9.5% in the first quarter. Janney Montgomery Scott LLC now owns 18,010 shares of the medical research company's stock worth $3,047,000 after acquiring an additional 1,566 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Quest Diagnostics by 10.2% during the first 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 purchasing an additional 1,348 shares during the period. Perigon Wealth Management LLC purchased a new stake in Quest Diagnostics in the first quarter valued at $221,000. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Quest Diagnostics by 23.5% in the 1st 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 during the period. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

DGX has been the subject of several recent research reports. Redburn Atlantic assumed coverage on Quest Diagnostics in a research report on Wednesday, April 2nd. They set a "buy" rating and a $195.00 price target for the company. Wall Street Zen lowered shares of Quest Diagnostics from a "buy" rating to a "hold" rating in a report on Saturday, June 7th. Robert W. Baird increased their price target on shares of Quest Diagnostics from $191.00 to $194.00 and gave the stock an "outperform" rating in a report on Wednesday, April 23rd. Redburn Partners set a $195.00 price objective on shares of Quest Diagnostics in a report on Wednesday, April 2nd. Finally, Truist Financial upped their price objective on shares of Quest Diagnostics from $182.00 to $190.00 and gave the stock a "hold" rating in a research report on Wednesday, April 23rd. Eight research 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 stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $185.73.

Insider Activity

In related news, SVP Mark E. Delaney sold 874 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $175.72, for a total value of $153,579.28. Following the completion of the transaction, the senior vice president directly owned 8,372 shares in the company, 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 legal filing with the SEC, which is accessible through this link. 8.16% of the stock is owned by corporate insiders.

Quest Diagnostics Price Performance

Shares of NYSE:DGX traded down $1.67 during midday trading on Thursday, hitting $171.95. The company's stock had a trading volume of 338,012 shares, compared to its average volume of 990,096. The company has a market cap of $19.20 billion, a P/E ratio of 21.74, a price-to-earnings-growth ratio of 2.41 and a beta of 0.49. Quest Diagnostics Incorporated has a 12-month low of $137.71 and a 12-month high of $182.38. The business's 50 day simple moving average is $176.19 and its 200 day simple moving average is $168.20. 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 released its earnings results 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 8.81% and a return on equity of 15.11%. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.63 billion. On average, analysts forecast that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, July 7th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Monday, July 7th. This represents a $3.20 annualized dividend and a dividend yield of 1.86%. Quest Diagnostics's dividend payout ratio (DPR) is 40.46%.

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.