Quest Diagnostics Incorporated (NYSE:DGX) Shares Bought by DnB Asset Management AS

DnB Asset Management AS lifted its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 2.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,366 shares of the medical research company’s stock after purchasing an additional 451 shares during the quarter. DnB Asset Management AS’s holdings in Quest Diagnostics were worth $2,922,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Sierra Ocean LLC purchased a new stake in Quest Diagnostics during the fourth quarter worth about $33,000. Versant Capital Management Inc lifted its position in shares of Quest Diagnostics by 340.4% during the 4th quarter. Versant Capital Management Inc now owns 251 shares of the medical research company’s stock valued at $38,000 after acquiring an additional 194 shares during the period. First Financial Corp IN purchased a new stake in shares of Quest Diagnostics during the 4th quarter worth approximately $38,000. FPC Investment Advisory Inc. acquired a new stake in shares of Quest Diagnostics in the 4th quarter worth approximately $45,000. Finally, Global Trust Asset Management LLC purchased a new position in Quest Diagnostics in the 4th quarter valued at approximately $49,000. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Stock Performance

Quest Diagnostics stock opened at $169.39 on Tuesday. The stock has a fifty day moving average price of $167.00 and a 200 day moving average price of $159.20. Quest Diagnostics Incorporated has a 52 week low of $125.42 and a 52 week high of $178.87. The firm has a market capitalization of $18.80 billion, a P/E ratio of 22.03, a PEG ratio of 2.16 and a beta of 0.92. The company has a current ratio of 1.10, a quick ratio of 1.02 and a debt-to-equity ratio of 0.82.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings data on Thursday, January 30th. The medical research company reported $2.23 earnings per share for the quarter, topping the consensus estimate of $2.19 by $0.04. Quest Diagnostics had a net margin of 8.80% and a return on equity of 15.07%. Equities research analysts anticipate that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current year.

Quest Diagnostics Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.89%. This is an increase from Quest Diagnostics’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Monday, April 7th. Quest Diagnostics’s dividend payout ratio is presently 41.61%.

Wall Street Analyst Weigh In

DGX has been the topic of several research reports. StockNews.com lowered Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Leerink Partnrs upgraded shares of Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Bank of America upped their price target on shares of Quest Diagnostics from $179.00 to $182.00 and gave the company a “buy” rating in a report on Friday, December 13th. Morgan Stanley raised shares of Quest Diagnostics from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $145.00 to $172.00 in a research note on Tuesday, December 17th. Finally, Truist Financial upped their target price on Quest Diagnostics from $172.00 to $182.00 and gave the company a “hold” rating in a research note on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Quest Diagnostics presently has a consensus rating of “Moderate Buy” and a consensus target price of $178.38.

Insider Activity at Quest Diagnostics

In other news, SVP Mark E. Delaney sold 403 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $164.30, for a total value of $66,212.90. Following the transaction, the senior vice president now directly owns 4,624 shares in the company, valued at $759,723.20. This trade represents a 8.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Michael E. Prevoznik sold 604 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $170.99, for a total value of $103,277.96. Following the sale, the senior vice president now owns 39,845 shares of the company’s stock, valued at $6,813,096.55. The trade was a 1.49 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,157 shares of company stock worth $2,423,755. 0.79% of the stock is owned by insiders.

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.