CX Institutional Has $1.61 Million Stock Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

CX Institutional increased its position in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 5.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,338 shares of the medical research company’s stock after buying an additional 537 shares during the quarter. CX Institutional’s holdings in Quest Diagnostics were worth $1,605,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in DGX. Integrated Advisors Network LLC grew its position in Quest Diagnostics by 13.6% during the fourth quarter. Integrated Advisors Network LLC now owns 2,157 shares of the medical research company’s stock worth $297,000 after buying an additional 259 shares in the last quarter. Wellington Management Group LLP grew its position in Quest Diagnostics by 0.7% during the fourth quarter. Wellington Management Group LLP now owns 2,632,326 shares of the medical research company’s stock worth $362,945,000 after buying an additional 18,533 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Quest Diagnostics by 7.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 45,711 shares of the medical research company’s stock worth $6,303,000 after buying an additional 3,049 shares in the last quarter. HighPoint Advisor Group LLC acquired a new stake in Quest Diagnostics during the fourth quarter worth about $585,000. Finally, CWM LLC lifted its stake in Quest Diagnostics by 4.9% during the first quarter. CWM LLC now owns 19,097 shares of the medical research company’s stock worth $2,542,000 after purchasing an additional 897 shares during the period. 88.06% of the stock is owned by institutional investors and hedge funds.

Quest Diagnostics Stock Performance

DGX stock opened at $149.35 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.00 and a quick ratio of 0.91. The company has a 50 day moving average price of $152.62 and a 200 day moving average price of $143.75. Quest Diagnostics Incorporated has a fifty-two week low of $120.87 and a fifty-two week high of $159.36. The stock has a market capitalization of $16.59 billion, a PE ratio of 20.10, a price-to-earnings-growth ratio of 2.45 and a beta of 0.89.

Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings data on Tuesday, July 23rd. The medical research company reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.04. Quest Diagnostics had a net margin of 8.99% and a return on equity of 15.35%. The firm had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.39 billion. During the same quarter in the previous year, the company posted $2.30 EPS. Quest Diagnostics’s revenue was up 2.5% on a year-over-year basis. Analysts forecast that Quest Diagnostics Incorporated will post 8.89 EPS for the current year.

Quest Diagnostics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Friday, October 4th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.01%. The ex-dividend date is Friday, October 4th. Quest Diagnostics’s dividend payout ratio (DPR) is presently 40.38%.

Insider Buying and Selling

In related news, SVP Karthik Kuppusamy sold 1,990 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $153.26, for a total value of $304,987.40. Following the completion of the transaction, the senior vice president now owns 11,459 shares in the company, valued at $1,756,206.34. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Quest Diagnostics news, SVP Mark E. Delaney sold 420 shares of Quest Diagnostics stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $143.08, for a total transaction of $60,093.60. Following the completion of the sale, the senior vice president now owns 5,019 shares of the company’s stock, valued at approximately $718,118.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Karthik Kuppusamy sold 1,990 shares of Quest Diagnostics stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $153.26, for a total transaction of $304,987.40. Following the sale, the senior vice president now directly owns 11,459 shares of the company’s stock, valued at $1,756,206.34. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

DGX has been the subject of a number of analyst reports. Truist Financial raised their price target on shares of Quest Diagnostics from $158.00 to $165.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. StockNews.com upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a research note on Tuesday. Piper Sandler raised their price target on shares of Quest Diagnostics from $145.00 to $150.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Robert W. Baird raised their price target on shares of Quest Diagnostics from $153.00 to $154.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Finally, Barclays raised their price target on shares of Quest Diagnostics from $144.00 to $154.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 27th. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Quest Diagnostics has a consensus rating of “Hold” and a consensus target price of $154.92.

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.