Tredje AP fonden Sells 8,746 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

Tredje AP fonden lessened its stake in Quest Diagnostics Incorporated (NYSE:DGX) by 50.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,747 shares of the medical research company’s stock after selling 8,746 shares during the quarter. Tredje AP fonden’s holdings in Quest Diagnostics were worth $1,320,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sierra Ocean LLC bought a new stake in Quest Diagnostics in the fourth quarter valued at about $33,000. Versant Capital Management Inc increased its holdings in Quest Diagnostics by 340.4% in the fourth quarter. Versant Capital Management Inc now owns 251 shares of the medical research company’s stock valued at $38,000 after purchasing an additional 194 shares during the last quarter. First Financial Corp IN bought a new stake in Quest Diagnostics in the fourth quarter valued at about $38,000. FPC Investment Advisory Inc. bought a new stake in Quest Diagnostics in the fourth quarter valued at about $45,000. Finally, Global Trust Asset Management LLC bought a new stake in Quest Diagnostics in the fourth quarter valued at about $49,000. Institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Stock Performance

Shares of NYSE DGX opened at $170.20 on Friday. The stock has a 50 day moving average price of $163.56 and a 200 day moving average price of $158.13. Quest Diagnostics Incorporated has a 52 week low of $125.42 and a 52 week high of $178.87. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.02 and a current ratio of 1.10. The stock has a market capitalization of $18.89 billion, a PE ratio of 22.13, a price-to-earnings-growth ratio of 2.16 and a beta of 0.92.

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

Quest Diagnostics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be given a dividend of $0.80 per share. The ex-dividend date is Monday, April 7th. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a yield of 1.88%. Quest Diagnostics’s dividend payout ratio is 41.61%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on DGX shares. Piper Sandler reiterated a “neutral” rating and issued a $180.00 price objective (up previously from $165.00) on shares of Quest Diagnostics in a report on Monday, February 3rd. Bank of America boosted their target price on Quest Diagnostics from $179.00 to $182.00 and gave the company a “buy” rating in a research note on Friday, December 13th. UBS Group boosted their target price on Quest Diagnostics from $166.00 to $170.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Truist Financial boosted 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. Finally, Citigroup cut Quest Diagnostics from a “buy” rating to a “neutral” rating and set a $185.00 target price for the company. in a research note on Tuesday, March 4th. Eight analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $178.23.

Insider Activity at Quest Diagnostics

In other Quest Diagnostics news, SVP Mark E. Delaney sold 403 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $164.30, for a total value of $66,212.90. Following the sale, the senior vice president now owns 4,624 shares in the company, valued at $759,723.20. This represents a 8.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Vicky B. Gregg sold 1,250 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $164.57, for a total value of $205,712.50. Following the completion of the sale, the director now owns 16,867 shares in the company, valued at $2,775,802.19. This represents a 6.90 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,514 shares of company stock valued at $1,634,445. Insiders own 0.79% of the company’s stock.

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.