Sciencast Management LP Buys New Position in Quest Diagnostics Incorporated (NYSE:DGX)

Sciencast Management LP bought a new stake in Quest Diagnostics Incorporated (NYSE:DGX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 6,141 shares of the medical research company’s stock, valued at approximately $858,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Integrated Wealth Concepts LLC raised its stake in Quest Diagnostics by 220.5% in the first quarter. Integrated Wealth Concepts LLC now owns 13,959 shares of the medical research company’s stock valued at $1,975,000 after purchasing an additional 9,604 shares in the last quarter. Truist Financial Corp raised its stake in shares of Quest Diagnostics by 2.2% during the first quarter. Truist Financial Corp now owns 23,459 shares of the medical research company’s stock worth $3,319,000 after acquiring an additional 494 shares in the last quarter. WBH Advisory Inc. purchased a new position in shares of Quest Diagnostics during the first quarter worth approximately $226,000. Aviva PLC raised its stake in shares of Quest Diagnostics by 44.3% during the fourth quarter. Aviva PLC now owns 188,756 shares of the medical research company’s stock worth $26,598,000 after acquiring an additional 57,972 shares in the last quarter. Finally, Trilogy Capital Inc. raised its stake in shares of Quest Diagnostics by 22.3% during the first quarter. Trilogy Capital Inc. now owns 2,247 shares of the medical research company’s stock worth $318,000 after acquiring an additional 410 shares in the last quarter. 87.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on DGX shares. StockNews.com started coverage on shares of Quest Diagnostics in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Piper Sandler started coverage on shares of Quest Diagnostics in a research note on Thursday, June 29th. They set a “neutral” rating on the stock. Finally, Morgan Stanley reissued an “equal weight” rating and set a $145.00 price target on shares of Quest Diagnostics in a research note on Thursday, August 3rd. Ten analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $149.90.

Quest Diagnostics Price Performance

DGX opened at $125.79 on Tuesday. The stock has a 50-day moving average price of $134.28 and a 200-day moving average price of $136.46. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.92 and a quick ratio of 0.83. The firm has a market cap of $14.12 billion, a PE ratio of 18.31 and a beta of 0.95. Quest Diagnostics Incorporated has a 1 year low of $120.40 and a 1 year high of $158.34.

Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings results on Wednesday, July 26th. The medical research company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.07. Quest Diagnostics had a return on equity of 16.32% and a net margin of 8.37%. The firm had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same quarter in the previous year, the firm earned $2.36 EPS. Quest Diagnostics’s quarterly revenue was down 4.7% compared to the same quarter last year. Sell-side analysts predict that Quest Diagnostics Incorporated will post 8.7 earnings per share for the current fiscal year.

Quest Diagnostics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 23rd. Stockholders of record on Friday, October 6th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 2.26%. The ex-dividend date is Thursday, October 5th. Quest Diagnostics’s payout ratio is currently 41.34%.

Quest Diagnostics Profile

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.