Swedbank AB Has $13.18 Million Stock Position in Quest Diagnostics Incorporated (NYSE:DGX)

Swedbank AB boosted its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 30.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 84,863 shares of the medical research company’s stock after purchasing an additional 19,570 shares during the period. Swedbank AB’s holdings in Quest Diagnostics were worth $13,175,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of DGX. Van Lanschot Kempen Investment Management N.V. acquired a new stake in Quest Diagnostics in the second quarter valued at about $48,783,000. M&G Plc acquired a new stake in shares of Quest Diagnostics in the 1st quarter valued at approximately $46,432,000. Vanguard Group Inc. grew its holdings in shares of Quest Diagnostics by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 13,921,955 shares of the medical research company’s stock valued at $1,853,151,000 after purchasing an additional 345,754 shares during the last quarter. Wedge Capital Management L L P NC increased its position in Quest Diagnostics by 601.7% during the 2nd quarter. Wedge Capital Management L L P NC now owns 277,561 shares of the medical research company’s stock worth $37,993,000 after purchasing an additional 238,007 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in Quest Diagnostics by 222.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 299,740 shares of the medical research company’s stock valued at $41,028,000 after purchasing an additional 206,640 shares during the last quarter. Institutional investors and hedge funds own 88.06% of the company’s stock.

Quest Diagnostics Trading Up 0.0 %

DGX opened at $148.94 on Friday. The stock has a market cap of $16.55 billion, a PE ratio of 20.05, a price-to-earnings-growth ratio of 2.45 and a beta of 0.89. The company has a quick ratio of 0.91, a current ratio of 1.00 and a debt-to-equity ratio of 0.57. Quest Diagnostics Incorporated has a twelve month low of $120.87 and a twelve month high of $159.36. The company has a fifty day moving average of $152.66 and a 200-day moving average of $143.82.

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, topping the consensus estimate of $2.31 by $0.04. Quest Diagnostics had a return on equity of 15.35% and a net margin of 8.99%. The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.39 billion. During the same period last year, the company posted $2.30 EPS. The business’s quarterly revenue was up 2.5% on a year-over-year basis. On average, sell-side analysts predict that Quest Diagnostics Incorporated will post 8.89 EPS for the current year.

Quest Diagnostics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Friday, October 4th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, October 4th. Quest Diagnostics’s payout ratio is 40.38%.

Insider Transactions at Quest Diagnostics

In related news, SVP Mark E. Delaney sold 420 shares of the stock in a transaction 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 transaction, the senior vice president now directly owns 5,019 shares of the company’s stock, valued at $718,118.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 that occurred on Wednesday, July 24th. The stock was sold at an average price of $143.08, for a total transaction 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $304,987.40. Following the completion of the sale, the senior vice president now directly owns 11,459 shares of the company’s stock, valued at $1,756,206.34. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.79% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on DGX. Citigroup upgraded shares of Quest Diagnostics from a “neutral” rating to a “buy” rating and upped their price target for the stock from $145.00 to $165.00 in a report on Wednesday, July 10th. Evercore ISI initiated coverage on Quest Diagnostics in a report on Wednesday, August 28th. They issued an “in-line” rating and a $165.00 target price for the company. Barclays lifted their price target on Quest Diagnostics from $144.00 to $154.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 27th. Robert W. Baird upped their price objective on Quest Diagnostics from $153.00 to $154.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Finally, Piper Sandler lifted their target price on shares of Quest Diagnostics from $145.00 to $150.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $154.92.

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.