Quest Diagnostics Incorporated (NYSE:DGX) Shares Purchased by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund raised its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 56.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,150 shares of the medical research company’s stock after purchasing an additional 1,854 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Quest Diagnostics were worth $777,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. State Street Corp grew its stake in Quest Diagnostics by 1.4% during the 3rd quarter. State Street Corp now owns 5,263,231 shares of the medical research company’s stock valued at $817,117,000 after purchasing an additional 70,578 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Quest Diagnostics by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,616,653 shares of the medical research company’s stock worth $404,838,000 after acquiring an additional 39,217 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in shares of Quest Diagnostics by 2.1% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 748,680 shares of the medical research company’s stock worth $115,621,000 after acquiring an additional 15,047 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of Quest Diagnostics by 25.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 747,298 shares of the medical research company’s stock worth $116,018,000 after acquiring an additional 151,365 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Quest Diagnostics by 1.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 708,100 shares of the medical research company’s stock worth $109,933,000 after acquiring an additional 12,565 shares in the last quarter. Institutional investors and hedge funds own 88.06% of the company’s stock.

Quest Diagnostics Stock Up 0.6 %

Shares of Quest Diagnostics stock opened at $169.71 on Wednesday. Quest Diagnostics Incorporated has a 1-year low of $123.30 and a 1-year high of $171.30. The company has a market capitalization of $18.94 billion, a P/E ratio of 22.07, a PEG ratio of 2.04 and a beta of 0.91. The business’s fifty day moving average price is $156.35 and its two-hundred day moving average price is $155.31. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.10 and a quick ratio of 1.02.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Thursday, January 30th. The medical research company reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.19 by $0.04. Quest Diagnostics had a return on equity of 15.07% and a net margin of 8.80%. As a group, research analysts forecast that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be given a dividend of $0.80 per share. The ex-dividend date is Monday, April 7th. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a dividend yield of 1.89%. Quest Diagnostics’s dividend payout ratio (DPR) is 39.01%.

Analysts Set New Price Targets

Several research analysts have recently commented on DGX shares. Jefferies Financial Group reiterated a “buy” rating and issued a $185.00 target price (up previously from $175.00) on shares of Quest Diagnostics in a research report on Tuesday, December 10th. Truist Financial lifted their target price on Quest Diagnostics from $172.00 to $182.00 and gave the stock a “hold” rating in a research report on Friday, January 31st. UBS Group lifted their target price on Quest Diagnostics from $166.00 to $170.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. raised their price target on Quest Diagnostics from $173.00 to $180.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Finally, Baird R W raised Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $177.69.

Insider Activity

In other news, SVP Mark E. Delaney sold 403 shares of Quest Diagnostics stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $164.30, for a total transaction of $66,212.90. Following the transaction, the senior vice president now directly owns 4,624 shares in the company, valued at approximately $759,723.20. This trade represents a 8.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Vicky B. Gregg sold 1,250 shares of Quest Diagnostics stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $164.57, for a total value of $205,712.50. Following the completion of the transaction, the director now owns 16,867 shares in the company, valued at $2,775,802.19. The trade was a 6.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.79% of the stock is owned by insiders.

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.