Zurcher Kantonalbank Zurich Cantonalbank reduced its position in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 4.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 55,055 shares of the medical research company's stock after selling 2,627 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Quest Diagnostics were worth $9,315,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bruce G. Allen Investments LLC raised its stake in Quest Diagnostics by 57.8% during the first 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. raised 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 purchasing an additional 82 shares during the period. Golden State Wealth Management LLC lifted its stake in shares of Quest Diagnostics by 157.3% in the 1st quarter. Golden State Wealth Management LLC now owns 193 shares of the medical research company's stock valued at $33,000 after purchasing an additional 118 shares during the last quarter. NBC Securities Inc. purchased a new position in shares of Quest Diagnostics during the 1st quarter worth $35,000. Finally, Continuum Advisory LLC increased its position 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 purchasing an additional 222 shares during the last quarter. Institutional investors and hedge funds own 88.06% of the company's stock.
Insider Buying and Selling at Quest Diagnostics
In other news, SVP Mark E. Delaney sold 874 shares of Quest Diagnostics stock in a transaction 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 sale, the senior vice president owned 8,372 shares of the company's stock, valued at $1,471,127.84. The trade was a 9.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Karthik Kuppusamy sold 8,269 shares of the firm's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $167.40, for a total value of $1,384,230.60. Following the completion of the sale, the senior vice president directly owned 10,660 shares in the company, valued at approximately $1,784,484. The trade was a 43.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,353 shares of company stock valued at $1,913,510 over the last quarter. 8.16% of the stock is currently owned by insiders.
Quest Diagnostics Price Performance
NYSE:DGX traded up $3.40 during mid-day trading on Friday, hitting $170.81. 1,421,070 shares of the company's stock traded hands, compared to its average volume of 1,363,318. Quest Diagnostics Incorporated has a 1 year low of $144.87 and a 1 year high of $182.38. The company has a market cap of $19.10 billion, a PE ratio of 20.46, a price-to-earnings-growth ratio of 2.22 and a beta of 0.46. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.99 and a current ratio of 1.09. The firm's 50 day simple moving average is $174.02 and its 200 day simple moving average is $170.01.
Quest Diagnostics (NYSE:DGX - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The medical research company reported $2.62 EPS for the quarter, beating analysts' consensus estimates of $2.57 by $0.05. The firm had revenue of $2.76 billion for the quarter, compared to analysts' expectations of $2.73 billion. Quest Diagnostics had a return on equity of 15.24% and a net margin of 9.01%. Quest Diagnostics's quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.35 EPS. Sell-side analysts expect that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.
Quest Diagnostics Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Monday, July 7th were issued a $0.80 dividend. The ex-dividend date was Monday, July 7th. This represents a $3.20 annualized dividend and a yield of 1.9%. Quest Diagnostics's payout ratio is 38.32%.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on DGX shares. Deutsche Bank Aktiengesellschaft increased their target price on shares of Quest Diagnostics from $160.00 to $178.00 and gave the stock a "hold" rating in a research note on Wednesday, July 23rd. Robert W. Baird raised their target price on Quest Diagnostics from $191.00 to $194.00 and gave the company an "outperform" rating in a report on Wednesday, April 23rd. Evercore ISI set a $185.00 price objective on shares of Quest Diagnostics in a report on Wednesday, July 23rd. Mizuho upped their price objective on Quest Diagnostics from $178.00 to $189.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 9th. Finally, Truist Financial upped their price target on Quest Diagnostics from $190.00 to $192.00 and gave the stock a "hold" rating in a report on Wednesday, July 23rd. Nine research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $186.00.
Check Out Our Latest Stock Analysis on Quest Diagnostics
About Quest Diagnostics
(
Free Report)
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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