Forsta AP Fonden Grows Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

Forsta AP Fonden increased its position in Quest Diagnostics Incorporated (NYSE:DGX) by 13.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,600 shares of the medical research company’s stock after acquiring an additional 3,300 shares during the quarter. Forsta AP Fonden’s holdings in Quest Diagnostics were worth $4,440,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rothschild Investment LLC purchased a new stake in Quest Diagnostics in the 2nd quarter worth approximately $26,000. Larson Financial Group LLC increased its holdings in Quest Diagnostics by 77.5% in the 2nd quarter. Larson Financial Group LLC now owns 229 shares of the medical research company’s stock worth $31,000 after acquiring an additional 100 shares in the last quarter. Innealta Capital LLC purchased a new stake in Quest Diagnostics in the 2nd quarter worth approximately $31,000. TruNorth Capital Management LLC purchased a new stake in Quest Diagnostics in the 2nd quarter worth approximately $33,000. Finally, EdgeRock Capital LLC bought a new position in Quest Diagnostics in the 2nd quarter worth approximately $35,000. 88.06% of the stock is owned by hedge funds and other institutional investors.

Quest Diagnostics Stock Up 0.0 %

Shares of DGX opened at $155.96 on Wednesday. The company has a market cap of $17.33 billion, a PE ratio of 20.99, a P/E/G ratio of 2.45 and a beta of 0.89. The business has a fifty day moving average of $153.22 and a 200 day moving average of $145.11. Quest Diagnostics Incorporated has a 52-week low of $123.04 and a 52-week high of $160.95. 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 (NYSE:DGX) last issued its quarterly earnings results on Tuesday, October 22nd. The medical research company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.04. The company had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.43 billion. Quest Diagnostics had a return on equity of 15.35% and a net margin of 8.99%. Quest Diagnostics’s revenue was up 8.5% on a year-over-year basis. During the same period last year, the company earned $2.22 earnings per share. On average, sell-side analysts expect that Quest Diagnostics Incorporated will post 8.89 EPS for the current year.

Quest Diagnostics Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Friday, October 4th were given a $0.75 dividend. The ex-dividend date was Friday, October 4th. This represents a $3.00 dividend on an annualized basis and a yield of 1.92%. Quest Diagnostics’s dividend payout ratio is presently 40.38%.

Insider Buying and Selling

In related news, SVP Karthik Kuppusamy sold 1,990 shares of the firm’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 completion of the sale, the senior vice president now directly owns 11,459 shares in the company, valued at $1,756,206.34. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.79% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

DGX has been the subject of several recent analyst reports. Evercore ISI initiated coverage on Quest Diagnostics in a research note on Wednesday, August 28th. They issued an “in-line” rating and a $165.00 price target for the company. Baird R W upgraded Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 23rd. Piper Sandler upped their price target on Quest Diagnostics from $150.00 to $165.00 and gave the stock a “neutral” rating in a research note on Monday. Mizuho upped their price target on Quest Diagnostics from $160.00 to $174.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Citigroup upped their price target on Quest Diagnostics from $165.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Nine research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $164.58.

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.