National Pension Service raised its stake in Quest Diagnostics Inc (NYSE:DGX) by 5.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 159,864 shares of the medical research company’s stock after purchasing an additional 8,694 shares during the period. National Pension Service owned 0.12% of Quest Diagnostics worth $13,668,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in DGX. Vanguard Group Inc lifted its holdings in Quest Diagnostics by 1.4% in the third quarter. Vanguard Group Inc now owns 14,500,290 shares of the medical research company’s stock valued at $1,564,725,000 after acquiring an additional 201,951 shares during the period. Macquarie Group Ltd. lifted its holdings in Quest Diagnostics by 4.8% in the third quarter. Macquarie Group Ltd. now owns 6,708,232 shares of the medical research company’s stock valued at $723,882,000 after acquiring an additional 306,017 shares during the period. Victory Capital Management Inc. increased its position in shares of Quest Diagnostics by 5.1% in the fourth quarter. Victory Capital Management Inc. now owns 2,811,037 shares of the medical research company’s stock valued at $234,075,000 after buying an additional 135,312 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Quest Diagnostics by 11.8% in the fourth quarter. Geode Capital Management LLC now owns 2,145,984 shares of the medical research company’s stock valued at $178,437,000 after buying an additional 225,712 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Quest Diagnostics by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,982,361 shares of the medical research company’s stock valued at $165,058,000 after buying an additional 9,047 shares in the last quarter. Institutional investors own 90.24% of the company’s stock.
DGX traded up $0.05 during midday trading on Friday, hitting $85.75. The company’s stock had a trading volume of 1,486,535 shares, compared to its average volume of 1,082,064. The stock has a market capitalization of $11.54 billion, a price-to-earnings ratio of 13.59, a price-to-earnings-growth ratio of 2.02 and a beta of 0.90. Quest Diagnostics Inc has a 52-week low of $78.95 and a 52-week high of $116.49. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.94 and a quick ratio of 0.87.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 22nd. Stockholders of record on Monday, April 8th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend is Friday, April 5th. Quest Diagnostics’s dividend payout ratio is currently 33.60%.
In other Quest Diagnostics news, SVP Everett Cunningham sold 1,496 shares of Quest Diagnostics stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $86.64, for a total transaction of $129,613.44. Following the sale, the senior vice president now directly owns 39,755 shares in the company, valued at approximately $3,444,373.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael E. Prevoznik sold 336 shares of Quest Diagnostics stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $88.23, for a total value of $29,645.28. Following the sale, the senior vice president now owns 42,108 shares in the company, valued at $3,715,188.84. The disclosure for this sale can be found here. Insiders sold a total of 88,106 shares of company stock worth $7,935,229 over the last ninety days. Corporate insiders own 1.86% of the company’s stock.
A number of research analysts have recently weighed in on DGX shares. Canaccord Genuity restated a “buy” rating and issued a $97.00 price target on shares of Quest Diagnostics in a research report on Monday, February 18th. Wolfe Research started coverage on Quest Diagnostics in a research report on Tuesday, April 2nd. They issued an “underperform” rating for the company. Bank of America cut Quest Diagnostics from a “neutral” rating to an “underperform” rating in a research report on Thursday, January 3rd. Argus cut Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Thursday, January 31st. Finally, Mizuho set a $106.00 price objective on Quest Diagnostics and gave the stock a “buy” rating in a research report on Friday, February 15th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $102.50.
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About Quest Diagnostics
Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic testing information and services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.
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