Swiss National Bank lowered its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX – Free Report) by 10.8% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 360,300 shares of the medical research company’s stock after selling 43,700 shares during the period. Swiss National Bank owned about 0.32% of Quest Diagnostics worth $43,906,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Yousif Capital Management LLC raised its stake in shares of Quest Diagnostics by 5.3% during the 2nd quarter. Yousif Capital Management LLC now owns 26,926 shares of the medical research company’s stock valued at $3,785,000 after buying an additional 1,359 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Quest Diagnostics during the 3rd quarter valued at about $493,000. LPL Financial LLC raised its stake in shares of Quest Diagnostics by 4.4% during the 2nd quarter. LPL Financial LLC now owns 50,252 shares of the medical research company’s stock valued at $7,063,000 after buying an additional 2,103 shares during the last quarter. Carson Advisory Inc. purchased a new position in shares of Quest Diagnostics during the 2nd quarter valued at about $185,000. Finally, Massmutual Trust Co. FSB ADV grew its position in shares of Quest Diagnostics by 1.3% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 16,439 shares of the medical research company’s stock valued at $2,003,000 after acquiring an additional 218 shares during the period. Hedge funds and other institutional investors own 87.76% of the company’s stock.
Quest Diagnostics Stock Up 0.9 %
DGX stock opened at $127.42 on Thursday. The firm has a market cap of $14.33 billion, a PE ratio of 17.01, a PEG ratio of 2.71 and a beta of 0.92. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.20 and a current ratio of 1.31. The firm’s 50 day moving average price is $134.86 and its 200-day moving average price is $131.76. Quest Diagnostics Incorporated has a one year low of $119.59 and a one year high of $148.91.
Quest Diagnostics Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, April 22nd. Shareholders of record on Monday, April 8th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.35%. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.71. The ex-dividend date is Friday, April 5th. Quest Diagnostics’s dividend payout ratio is 37.92%.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on DGX shares. JPMorgan Chase & Co. raised their target price on Quest Diagnostics from $148.00 to $149.00 and gave the company a “neutral” rating in a research report on Friday, November 17th. StockNews.com cut Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Bank of America upgraded Quest Diagnostics from a “neutral” rating to a “buy” rating and raised their target price for the company from $140.00 to $160.00 in a research report on Tuesday, December 12th. Truist Financial dropped their target price on Quest Diagnostics from $150.00 to $145.00 and set a “hold” rating on the stock in a research report on Friday, February 2nd. Finally, Evercore ISI dropped their target price on Quest Diagnostics from $136.00 to $130.00 in a research report on Wednesday, October 11th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Quest Diagnostics presently has an average rating of “Hold” and a consensus target price of $146.91.
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.
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