Thrivent Financial for Lutherans Has $2.66 Million Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

Thrivent Financial for Lutherans decreased its stake in Quest Diagnostics Incorporated (NYSE:DGX) by 7.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,621 shares of the medical research company’s stock after selling 1,346 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Quest Diagnostics were worth $2,658,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in shares of Quest Diagnostics in the 4th quarter valued at $67,447,000. Bank of New York Mellon Corp boosted its position in Quest Diagnostics by 14.8% in the fourth quarter. Bank of New York Mellon Corp now owns 881,764 shares of the medical research company’s stock valued at $133,023,000 after buying an additional 113,956 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Quest Diagnostics by 535.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 128,440 shares of the medical research company’s stock worth $19,376,000 after buying an additional 108,224 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Quest Diagnostics by 23.8% during the fourth quarter. Principal Financial Group Inc. now owns 543,472 shares of the medical research company’s stock worth $81,994,000 after buying an additional 104,495 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new position in shares of Quest Diagnostics in the fourth quarter valued at approximately $14,392,000. 88.06% of the stock is currently owned by institutional investors.

Quest Diagnostics Stock Performance

DGX stock opened at $166.13 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.82. Quest Diagnostics Incorporated has a twelve month low of $125.42 and a twelve month high of $178.87. The business’s fifty day moving average is $166.32 and its 200-day moving average is $158.92. The company has a market cap of $18.44 billion, a P/E ratio of 21.60, a price-to-earnings-growth ratio of 2.16 and a beta of 0.92.

Quest Diagnostics (NYSE:DGX) last released its earnings results on Thursday, January 30th. The medical research company reported $2.23 earnings per share 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%. Equities research analysts forecast that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Monday, April 7th. This is an increase from Quest Diagnostics’s previous quarterly dividend of $0.75. Quest Diagnostics’s dividend payout ratio (DPR) is presently 41.61%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on DGX shares. Truist Financial increased their price target on Quest Diagnostics from $172.00 to $182.00 and gave the stock a “hold” rating in a research report on Friday, January 31st. Mizuho raised their target price on Quest Diagnostics from $177.00 to $178.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Robert W. Baird lifted their price target on Quest Diagnostics from $190.00 to $191.00 and gave the company an “outperform” rating in a report on Thursday, March 20th. Citigroup lowered shares of Quest Diagnostics from a “buy” rating to a “neutral” rating and set a $185.00 price objective on the stock. in a report on Tuesday, March 4th. Finally, Leerink Partners raised shares of Quest Diagnostics from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $169.00 to $174.00 in a research note on Monday, January 6th. Eight analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $178.38.

Insiders Place Their Bets

In related news, Director Vicky B. Gregg sold 1,250 shares of Quest Diagnostics stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $164.57, for a total value of $205,712.50. Following the sale, the director now owns 16,867 shares of the company’s stock, valued at approximately $2,775,802.19. This trade represents a 6.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Catherine T. Doherty sold 5,370 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $174.13, for a total transaction of $935,078.10. Following the completion of the sale, the executive vice president now directly owns 68,068 shares in the company, valued at approximately $11,852,680.84. This represents a 7.31 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,157 shares of company stock worth $2,423,755. Corporate insiders own 0.79% of the company’s stock.

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.