Andra AP fonden Sells 15,000 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

Andra AP fonden decreased its holdings in Quest Diagnostics Incorporated (NYSE:DGX) by 31.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,000 shares of the medical research company’s stock after selling 15,000 shares during the quarter. Andra AP fonden’s holdings in Quest Diagnostics were worth $4,517,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of DGX. Norges Bank bought a new stake in shares of Quest Diagnostics in the fourth quarter worth $140,472,000. Van Lanschot Kempen Investment Management N.V. bought a new stake in shares of Quest Diagnostics in the second quarter worth $48,783,000. M&G Plc bought a new stake in shares of Quest Diagnostics in the first quarter worth $46,432,000. Vanguard Group Inc. grew its stake in shares of Quest Diagnostics by 2.5% in the first quarter. Vanguard Group Inc. now owns 13,921,955 shares of the medical research company’s stock worth $1,853,151,000 after purchasing an additional 345,754 shares during the last quarter. Finally, Pathstone Holdings LLC bought a new stake in Quest Diagnostics during the fourth quarter valued at $46,342,000. Institutional investors own 88.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on DGX. JPMorgan Chase & Co. upped their price target on shares of Quest Diagnostics from $152.00 to $155.00 and gave the company a “neutral” rating in a research report on Thursday, May 30th. Truist Financial increased their price objective on shares of Quest Diagnostics from $150.00 to $158.00 and gave the company a “hold” rating in a research note on Monday, July 15th. Evercore ISI started coverage on shares of Quest Diagnostics in a research note on Wednesday, August 28th. They issued an “in-line” rating and a $165.00 price objective for the company. Citigroup upgraded shares of Quest Diagnostics from a “neutral” rating to a “buy” rating and increased their price objective for the company from $145.00 to $165.00 in a research note on Wednesday, July 10th. Finally, StockNews.com upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Nine analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Quest Diagnostics has a consensus rating of “Hold” and a consensus target price of $154.33.

Insider Activity

In other news, SVP Karthik Kuppusamy sold 1,990 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $153.26, for a total transaction of $304,987.40. Following the sale, the senior vice president now owns 11,459 shares in the company, valued at approximately $1,756,206.34. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, SVP Mark E. Delaney sold 420 shares of the firm’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $143.08, for a total transaction of $60,093.60. Following the sale, the senior vice president now owns 5,019 shares in the company, valued at approximately $718,118.52. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Karthik Kuppusamy sold 1,990 shares of Quest Diagnostics stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $153.26, for a total transaction of $304,987.40. Following the completion of the transaction, the senior vice president now owns 11,459 shares in the company, valued at approximately $1,756,206.34. The disclosure for this sale can be found here. Corporate insiders own 0.79% of the company’s stock.

Quest Diagnostics Stock Up 0.5 %

Shares of NYSE:DGX opened at $153.56 on Thursday. The firm has a fifty day moving average price of $148.65 and a two-hundred day moving average price of $139.54. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.00 and a quick ratio of 0.91. Quest Diagnostics Incorporated has a one year low of $119.59 and a one year high of $159.36. The company has a market cap of $17.09 billion, a price-to-earnings ratio of 20.67, a PEG ratio of 2.79 and a beta of 0.89.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings results on Tuesday, July 23rd. The medical research company reported $2.35 EPS for the quarter, beating the consensus estimate of $2.31 by $0.04. The firm had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.39 billion. Quest Diagnostics had a net margin of 8.99% and a return on equity of 15.35%. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period last year, the firm earned $2.30 EPS. Analysts anticipate that Quest Diagnostics Incorporated will post 8.89 EPS for the current fiscal year.

Quest Diagnostics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Friday, October 4th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend is Friday, October 4th. Quest Diagnostics’s dividend payout ratio (DPR) is currently 40.38%.

About Quest Diagnostics

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.