Envestnet Asset Management Inc. Has $31.02 Million Stake in Quest Diagnostics Incorporated (NYSE:DGX)

Envestnet Asset Management Inc. increased its holdings in Quest Diagnostics Incorporated (NYSE:DGX) by 2.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 226,598 shares of the medical research company’s stock after buying an additional 6,230 shares during the period. Envestnet Asset Management Inc.’s holdings in Quest Diagnostics were worth $31,017,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rothschild Investment LLC acquired a new stake in shares of Quest Diagnostics in the second quarter valued at approximately $26,000. Spartan Planning & Wealth Management acquired a new stake in shares of Quest Diagnostics in the fourth quarter valued at approximately $31,000. Innealta Capital LLC acquired a new stake in shares of Quest Diagnostics in the second quarter valued at approximately $31,000. Larson Financial Group LLC raised its position in shares of Quest Diagnostics by 77.5% in the second quarter. Larson Financial Group LLC now owns 229 shares of the medical research company’s stock valued at $31,000 after buying an additional 100 shares in the last quarter. Finally, Riverview Trust Co acquired a new stake in shares of Quest Diagnostics in the first quarter valued at approximately $33,000. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Quest Diagnostics news, SVP Karthik Kuppusamy sold 1,990 shares of the 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 completion of the sale, the senior vice president now owns 11,459 shares of the company’s stock, valued at approximately $1,756,206.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Mark E. Delaney sold 420 shares of the business’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 transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Karthik Kuppusamy sold 1,990 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were 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 approximately $1,756,206.34. The disclosure for this sale can be found here. 0.79% of the stock is owned by insiders.

Quest Diagnostics Stock Performance

NYSE DGX opened at $152.99 on Friday. The firm’s fifty day moving average price is $150.61 and its two-hundred day moving average price is $140.88. The stock has a market cap of $17.00 billion, a PE ratio of 20.59, a PEG ratio of 2.80 and a beta of 0.89. Quest Diagnostics Incorporated has a fifty-two week low of $119.59 and a fifty-two week high of $159.36. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.91 and a current ratio of 1.00.

Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings data on Tuesday, July 23rd. The medical research company reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.04. The business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.39 billion. Quest Diagnostics had a return on equity of 15.35% and a net margin of 8.99%. Quest Diagnostics’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.30 earnings per share. On average, equities analysts expect that Quest Diagnostics Incorporated will post 8.89 EPS for the current fiscal year.

Quest Diagnostics Dividend Announcement

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. The ex-dividend date is Friday, October 4th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.96%. Quest Diagnostics’s dividend payout ratio (DPR) is 40.38%.

Analyst Ratings Changes

Several research analysts have commented on DGX shares. Evercore ISI started coverage on shares of Quest Diagnostics in a research report on Wednesday, August 28th. They set an “in-line” rating and a $165.00 price objective for the company. Truist Financial boosted their price objective on shares of Quest Diagnostics from $150.00 to $158.00 and gave the company a “hold” rating in a research report on Monday, July 15th. Robert W. Baird boosted their price objective on shares of Quest Diagnostics from $153.00 to $154.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Citigroup upgraded shares of Quest Diagnostics from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $145.00 to $165.00 in a research report on Wednesday, July 10th. Finally, Barclays boosted their price objective on shares of Quest Diagnostics from $144.00 to $154.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 27th. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $154.33.

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.