MML Investors Services LLC raised its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX – Free Report) by 2.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,983 shares of the medical research company’s stock after buying an additional 106 shares during the period. MML Investors Services LLC’s holdings in Quest Diagnostics were worth $618,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of DGX. Mizuho Securities USA LLC raised its holdings in shares of Quest Diagnostics by 5,168.5% during the third quarter. Mizuho Securities USA LLC now owns 451,403 shares of the medical research company’s stock worth $70,080,000 after acquiring an additional 442,835 shares in the last quarter. Point72 Asset Management L.P. raised its stake in shares of Quest Diagnostics by 222.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 299,740 shares of the medical research company’s stock worth $41,028,000 after purchasing an additional 206,640 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of Quest Diagnostics during the 2nd quarter valued at about $22,049,000. BNP Paribas Financial Markets grew its stake in shares of Quest Diagnostics by 25.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 747,298 shares of the medical research company’s stock valued at $116,018,000 after buying an additional 151,365 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Quest Diagnostics by 6.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,109,515 shares of the medical research company’s stock worth $288,758,000 after buying an additional 129,395 shares during the last quarter. 88.06% of the stock is currently owned by hedge funds and other institutional investors.
Quest Diagnostics Price Performance
NYSE:DGX opened at $153.10 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.25 and a quick ratio of 1.17. The stock has a market cap of $17.09 billion, a P/E ratio of 20.58, a PEG ratio of 2.69 and a beta of 0.89. The company has a fifty day moving average price of $157.03 and a 200 day moving average price of $150.80. Quest Diagnostics Incorporated has a one year low of $123.04 and a one year high of $165.32.
Quest Diagnostics Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Tuesday, January 14th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Tuesday, January 14th. Quest Diagnostics’s dividend payout ratio is presently 40.32%.
Analyst Ratings Changes
Several analysts have commented on DGX shares. Jefferies Financial Group reissued a “buy” rating and issued a $185.00 target price (up from $175.00) on shares of Quest Diagnostics in a research report on Tuesday, December 10th. StockNews.com raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a research report on Friday. Evercore ISI began coverage on Quest Diagnostics in a research report on Wednesday, August 28th. They issued an “in-line” rating and a $165.00 price target for the company. Morgan Stanley raised Quest Diagnostics from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $145.00 to $172.00 in a report on Tuesday, December 17th. Finally, Piper Sandler boosted their target price on Quest Diagnostics from $150.00 to $165.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $169.15.
Check Out Our Latest Analysis on Quest Diagnostics
Insider Activity at Quest Diagnostics
In other news, CAO Michael J. Deppe sold 18,755 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $154.05, for a total value of $2,889,207.75. Following the completion of the transaction, the chief accounting officer now owns 34,941 shares in the company, valued at approximately $5,382,661.05. This represents a 34.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Karthik Kuppusamy sold 1,775 shares of Quest Diagnostics stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $156.92, for a total transaction of $278,533.00. Following the sale, the senior vice president now owns 9,734 shares in the company, valued at approximately $1,527,459.28. This trade represents a 15.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by corporate 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.
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