Truist Financial Corp lowered its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX – Get Rating) by 10.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,763 shares of the medical research company’s stock after selling 2,426 shares during the period. Truist Financial Corp’s holdings in Quest Diagnostics were worth $2,628,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in DGX. Norges Bank acquired a new stake in Quest Diagnostics in the fourth quarter valued at approximately $212,114,000. BlackRock Inc. grew its stake in Quest Diagnostics by 10.1% in the first quarter. BlackRock Inc. now owns 12,807,624 shares of the medical research company’s stock valued at $1,752,852,000 after acquiring an additional 1,171,242 shares during the period. American Century Companies Inc. boosted its position in shares of Quest Diagnostics by 33.7% during the first quarter. American Century Companies Inc. now owns 2,634,641 shares of the medical research company’s stock valued at $360,577,000 after buying an additional 664,574 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Quest Diagnostics by 4.8% during the first quarter. Vanguard Group Inc. now owns 14,014,030 shares of the medical research company’s stock valued at $1,917,961,000 after buying an additional 636,301 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Quest Diagnostics by 12.4% during the first quarter. Bank of America Corp DE now owns 3,628,272 shares of the medical research company’s stock valued at $496,566,000 after buying an additional 398,924 shares during the last quarter. Institutional investors and hedge funds own 88.87% of the company’s stock.
Wall Street Analysts Forecast Growth
DGX has been the topic of several analyst reports. Morgan Stanley reaffirmed an “equal weight” rating and set a $142.00 target price on shares of Quest Diagnostics in a research report on Monday, August 22nd. StockNews.com initiated coverage on Quest Diagnostics in a research report on Wednesday. They set a “buy” rating on the stock. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $148.50.
Quest Diagnostics Stock Performance
Shares of Quest Diagnostics stock opened at $125.71 on Friday. The business’s fifty day simple moving average is $128.85 and its 200 day simple moving average is $133.62. The firm has a market capitalization of $14.66 billion, a P/E ratio of 10.46 and a beta of 0.98. Quest Diagnostics Incorporated has a 12 month low of $120.40 and a 12 month high of $174.16. The company has a current ratio of 1.54, a quick ratio of 1.42 and a debt-to-equity ratio of 0.62.
Quest Diagnostics (NYSE:DGX – Get Rating) last issued its quarterly earnings results on Thursday, July 21st. The medical research company reported $2.36 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.10. The business had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.34 billion. Quest Diagnostics had a return on equity of 24.62% and a net margin of 14.02%. Quest Diagnostics’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same period last year, the company posted $3.18 earnings per share. As a group, analysts anticipate that Quest Diagnostics Incorporated will post 9.67 EPS for the current year.
Quest Diagnostics Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 19th. Shareholders of record on Tuesday, October 4th will be paid a $0.66 dividend. The ex-dividend date is Monday, October 3rd. This represents a $2.64 annualized dividend and a dividend yield of 2.10%. Quest Diagnostics’s payout ratio is presently 21.96%.
Insider Buying and Selling at Quest Diagnostics
In other Quest Diagnostics news, Director Timothy M. Ring sold 2,000 shares of the business’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $136.04, for a total value of $272,080.00. Following the sale, the director now directly owns 23,933 shares in the company, valued at $3,255,845.32. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.70% of the company’s stock.
Quest Diagnostics Company Profile
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Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic information services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.
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