Generali Asset Management SPA SGR Invests $4.47 Million in Quest Diagnostics Incorporated (NYSE:DGX)

Generali Asset Management SPA SGR acquired a new position in Quest Diagnostics Incorporated (NYSE:DGX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 29,631 shares of the medical research company’s stock, valued at approximately $4,470,000.

A number of other large investors have also recently bought and sold shares of DGX. Los Angeles Capital Management LLC bought a new stake in Quest Diagnostics in the third quarter worth $224,000. OneDigital Investment Advisors LLC boosted its holdings in Quest Diagnostics by 6.2% in the third quarter. OneDigital Investment Advisors LLC now owns 3,562 shares of the medical research company’s stock worth $553,000 after purchasing an additional 209 shares in the last quarter. Empowered Funds LLC boosted its holdings in Quest Diagnostics by 92.3% in the third quarter. Empowered Funds LLC now owns 19,920 shares of the medical research company’s stock worth $3,093,000 after purchasing an additional 9,559 shares in the last quarter. Natixis Advisors LLC boosted its holdings in Quest Diagnostics by 7.7% in the third quarter. Natixis Advisors LLC now owns 92,830 shares of the medical research company’s stock worth $14,412,000 after purchasing an additional 6,619 shares in the last quarter. Finally, Claro Advisors LLC bought a new stake in Quest Diagnostics in the third quarter worth $286,000. 88.06% of the stock is currently owned by institutional investors.

Quest Diagnostics Stock Performance

NYSE:DGX opened at $172.22 on Wednesday. Quest Diagnostics Incorporated has a 12-month low of $125.42 and a 12-month high of $178.87. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $19.11 billion, a PE ratio of 22.40, a price-to-earnings-growth ratio of 2.16 and a beta of 0.92. The firm has a 50-day moving average price of $164.35 and a 200 day moving average price of $158.41.

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

Quest Diagnostics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend is Monday, April 7th. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.75. Quest Diagnostics’s dividend payout ratio is 41.61%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Robert W. Baird set a $189.00 price target on shares of Quest Diagnostics in a report on Friday, January 31st. Jefferies Financial Group restated a “buy” rating and set a $185.00 price target (up from $175.00) on shares of Quest Diagnostics in a report on Tuesday, December 10th. Leerink Partnrs upgraded shares of Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Citigroup cut shares of Quest Diagnostics from a “buy” rating to a “neutral” rating and set a $185.00 price target for the company. in a report on Tuesday, March 4th. Finally, Morgan Stanley upgraded shares of Quest Diagnostics from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $145.00 to $172.00 in a report on Tuesday, December 17th. Eight analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $178.23.

Insider Buying and Selling

In other news, EVP Catherine T. Doherty sold 5,370 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $174.13, for a total transaction of $935,078.10. Following the completion of the sale, the executive vice president now owns 68,068 shares of the company’s stock, valued at approximately $11,852,680.84. This trade represents a 7.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Mark E. Delaney sold 403 shares of the firm’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 4,624 shares of the company’s stock, valued at approximately $759,723.20. The trade was a 8.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,514 shares of company stock valued at $1,634,445 over the last quarter. Corporate insiders own 0.79% of the company’s stock.

About Quest Diagnostics

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.