Quest Diagnostics Incorporated (NYSE:DGX) Shares Sold by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. decreased its position in Quest Diagnostics Incorporated (NYSE:DGX) by 3.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,338 shares of the medical research company’s stock after selling 2,000 shares during the period. Royal London Asset Management Ltd.’s holdings in Quest Diagnostics were worth $7,164,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in DGX. Davis Selected Advisers increased its stake in Quest Diagnostics by 0.4% during the second quarter. Davis Selected Advisers now owns 2,390,828 shares of the medical research company’s stock worth $327,257,000 after acquiring an additional 9,665 shares during the last quarter. Prudential PLC increased its position in shares of Quest Diagnostics by 1.8% during the 2nd quarter. Prudential PLC now owns 72,060 shares of the medical research company’s stock worth $9,864,000 after purchasing an additional 1,300 shares during the last quarter. Quest Partners LLC raised its holdings in Quest Diagnostics by 18.4% in the 2nd quarter. Quest Partners LLC now owns 18,087 shares of the medical research company’s stock valued at $2,476,000 after buying an additional 2,814 shares during the period. Oak Thistle LLC acquired a new position in Quest Diagnostics in the second quarter valued at about $361,000. Finally, Caprock Group LLC increased its position in shares of Quest Diagnostics by 22.2% during the second quarter. Caprock Group LLC now owns 3,259 shares of the medical research company’s stock valued at $446,000 after acquiring an additional 593 shares during the last quarter. Institutional investors and hedge funds own 88.06% of the company’s stock.

Quest Diagnostics Stock Down 0.3 %

Shares of Quest Diagnostics stock opened at $154.36 on Friday. Quest Diagnostics Incorporated has a 52-week low of $119.59 and a 52-week high of $159.36. The company has a 50 day moving average of $149.21 and a 200 day moving average of $139.85. The company has a quick ratio of 0.91, a current ratio of 1.00 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $17.18 billion, a P/E ratio of 20.78, a P/E/G ratio of 2.80 and a beta of 0.89.

Quest Diagnostics (NYSE:DGX) last issued its earnings results on Tuesday, July 23rd. The medical research company reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.04. Quest Diagnostics had a net margin of 8.99% and a return on equity of 15.35%. The firm had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the previous year, the firm posted $2.30 earnings per share. The company’s revenue was up 2.5% compared to the same quarter last year. As a group, research analysts forecast that Quest Diagnostics Incorporated will post 8.89 EPS for the current fiscal year.

Quest Diagnostics Dividend Announcement

The firm also recently announced 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 1.94%. The ex-dividend date is Friday, October 4th. Quest Diagnostics’s dividend payout ratio (DPR) is presently 40.38%.

Analysts Set New Price Targets

DGX has been the topic of several recent analyst reports. Robert W. Baird upped their price objective on shares of Quest Diagnostics from $153.00 to $154.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Barclays raised their price target on Quest Diagnostics from $144.00 to $154.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 27th. StockNews.com upgraded Quest Diagnostics from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. JPMorgan Chase & Co. raised their target price on Quest Diagnostics from $152.00 to $155.00 and gave the company a “neutral” rating in a report on Thursday, May 30th. Finally, Piper Sandler boosted their price target on shares of Quest Diagnostics from $145.00 to $150.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. 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 presently has an average rating of “Hold” and an average price target of $154.33.

Insider Buying and Selling

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