Toronto Dominion Bank Buys 3,840 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

Toronto Dominion Bank grew its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 6.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,686 shares of the medical research company's stock after buying an additional 3,840 shares during the period. Toronto Dominion Bank owned 0.05% of Quest Diagnostics worth $9,004,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its holdings in shares of Quest Diagnostics by 42.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,490,278 shares of the medical research company's stock valued at $828,265,000 after buying an additional 1,637,525 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Quest Diagnostics by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 2,690,021 shares of the medical research company's stock worth $404,764,000 after purchasing an additional 73,368 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Quest Diagnostics by 60.4% in the 4th quarter. JPMorgan Chase & Co. now owns 2,433,913 shares of the medical research company's stock worth $367,180,000 after purchasing an additional 916,898 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC raised its position in shares of Quest Diagnostics by 1.2% in the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,268,990 shares of the medical research company's stock worth $342,300,000 after purchasing an additional 26,214 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Quest Diagnostics in the 4th quarter worth about $191,823,000. Institutional investors own 88.06% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on DGX. UBS Group lifted their price target on Quest Diagnostics from $166.00 to $170.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Robert W. Baird lifted their price target on Quest Diagnostics from $191.00 to $194.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 23rd. Redburn Partners set a $195.00 price target on Quest Diagnostics in a research report on Wednesday, April 2nd. Citigroup lowered Quest Diagnostics from a "buy" rating to a "neutral" rating and set a $185.00 price target for the company. in a research report on Tuesday, March 4th. Finally, Truist Financial lifted their price target on Quest Diagnostics from $182.00 to $190.00 and gave the stock a "hold" rating in a research report on Wednesday, April 23rd. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $185.73.

Quest Diagnostics Stock Performance

Shares of Quest Diagnostics stock traded up $0.97 during trading hours on Monday, reaching $174.31. 876,211 shares of the stock traded hands, compared to its average volume of 988,590. The company has a 50 day moving average price of $171.06 and a 200 day moving average price of $164.84. The firm has a market capitalization of $19.46 billion, a price-to-earnings ratio of 22.67, a P/E/G ratio of 2.16 and a beta of 0.52. Quest Diagnostics Incorporated has a one year low of $135.47 and a one year high of $179.99. 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 released its quarterly earnings results on Tuesday, April 22nd. The medical research company reported $2.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.06. The business 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 15.07% and a net margin of 8.80%. On average, equities research analysts expect that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal year.

Quest Diagnostics Dividend Announcement

The company also recently declared 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. The ex-dividend date is Monday, July 7th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.84%. Quest Diagnostics's dividend payout ratio is currently 40.46%.

Insider Buying and Selling at Quest Diagnostics

In related news, SVP Michael E. Prevoznik sold 4,643 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was 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. The trade was a 10.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Mark E. Delaney sold 874 shares of the business'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 value of $153,579.28. Following the transaction, the senior vice president now owns 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 disclosure for this sale can be found here. Insiders sold a total of 52,633 shares of company stock worth $8,914,433 in the last three months. 8.16% of the stock is currently owned by company 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.