Quest Diagnostics Incorporated (NYSE:DGX) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. grew its position in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 0.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 370,133 shares of the medical research company’s stock after purchasing an additional 2,436 shares during the quarter. Principal Financial Group Inc. owned 0.33% of Quest Diagnostics worth $50,664,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Altshuler Shaham Ltd acquired a new position in Quest Diagnostics during the fourth quarter worth about $26,000. Spartan Planning & Wealth Management acquired a new position in shares of Quest Diagnostics in the 4th quarter worth approximately $31,000. Innealta Capital LLC acquired a new position in shares of Quest Diagnostics in the 2nd quarter worth approximately $31,000. TruNorth Capital Management LLC acquired a new stake in Quest Diagnostics during the second quarter valued at approximately $33,000. Finally, Riverview Trust Co acquired a new stake in Quest Diagnostics during the first quarter valued at approximately $33,000. Institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Stock Up 0.5 %

Shares of DGX stock opened at $156.97 on Friday. Quest Diagnostics Incorporated has a one year low of $119.59 and a one year high of $157.34. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.00 and a quick ratio of 0.91. The stock has a fifty day moving average price of $146.02 and a 200 day moving average price of $137.85. The stock has a market cap of $17.44 billion, a P/E ratio of 21.13, a price-to-earnings-growth ratio of 2.69 and a beta of 0.89.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings data 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. The company 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 firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the firm earned $2.30 EPS. Analysts predict that Quest Diagnostics Incorporated will post 8.89 earnings per share for the current year.

Quest Diagnostics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Friday, October 4th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.91%. Quest Diagnostics’s payout ratio is presently 40.38%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Barclays increased their price objective on Quest Diagnostics from $144.00 to $154.00 and gave the company an “equal weight” rating in a research report on Tuesday. Citigroup raised shares of Quest Diagnostics from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $145.00 to $165.00 in a research report on Wednesday, July 10th. Evercore ISI assumed coverage on Quest Diagnostics in a report on Wednesday. They issued an “in-line” rating and a $165.00 price objective on the stock. Robert W. Baird raised their target price on Quest Diagnostics from $153.00 to $154.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Finally, Truist Financial lifted their price objective on Quest Diagnostics from $150.00 to $158.00 and gave the stock a “hold” rating in a research note on Monday, July 15th. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Quest Diagnostics presently has a consensus 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 company’s stock in a transaction 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 sale, the senior vice president now directly owns 11,459 shares in the company, valued at $1,756,206.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Mark E. Delaney sold 420 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 5,019 shares of the company’s stock, valued at $718,118.52. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Karthik Kuppusamy sold 1,990 shares of the 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 sale, the senior vice president now owns 11,459 shares in the company, valued at $1,756,206.34. The disclosure for this sale can be found here. 0.79% of the stock is owned by corporate insiders.

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.