Handelsbanken Fonder AB Sells 28,408 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

Handelsbanken Fonder AB decreased its position in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 25.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 81,119 shares of the medical research company’s stock after selling 28,408 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.07% of Quest Diagnostics worth $11,185,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James & Associates boosted its stake in Quest Diagnostics by 103.3% in the 4th quarter. Raymond James & Associates now owns 148,251 shares of the medical research company’s stock worth $20,441,000 after purchasing an additional 75,315 shares during the period. CHURCHILL MANAGEMENT Corp bought a new position in Quest Diagnostics in the 4th quarter worth about $1,483,000. Wellington Management Group LLP boosted its stake in Quest Diagnostics by 14.6% in the 3rd quarter. Wellington Management Group LLP now owns 2,613,793 shares of the medical research company’s stock worth $318,517,000 after purchasing an additional 333,947 shares during the period. Pacer Advisors Inc. boosted its stake in Quest Diagnostics by 201.5% in the 4th quarter. Pacer Advisors Inc. now owns 31,912 shares of the medical research company’s stock worth $4,400,000 after purchasing an additional 21,327 shares during the period. Finally, Strs Ohio boosted its stake in Quest Diagnostics by 7.6% in the 4th quarter. Strs Ohio now owns 16,270 shares of the medical research company’s stock worth $2,243,000 after purchasing an additional 1,150 shares during the period. Institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Stock Performance

Shares of NYSE DGX opened at $136.74 on Wednesday. The stock has a market cap of $15.19 billion, a price-to-earnings ratio of 18.26, a P/E/G ratio of 2.81 and a beta of 0.91. The company has a current ratio of 1.31, a quick ratio of 1.20 and a debt-to-equity ratio of 0.70. Quest Diagnostics Incorporated has a 1-year low of $119.59 and a 1-year high of $148.62. The stock’s 50-day moving average is $128.50 and its 200 day moving average is $131.03.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings data on Thursday, February 1st. The medical research company reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.11 by $0.04. The company had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.25 billion. Quest Diagnostics had a return on equity of 15.79% and a net margin of 9.23%. Quest Diagnostics’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period last year, the firm posted $1.98 EPS. On average, sell-side analysts anticipate that Quest Diagnostics Incorporated will post 8.75 EPS for the current fiscal year.

Quest Diagnostics Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.19%. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.71. The ex-dividend date was Friday, April 5th. Quest Diagnostics’s dividend payout ratio (DPR) is currently 37.92%.

Insider Activity at Quest Diagnostics

In related news, Director Vicky B. Gregg sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $126.64, for a total transaction of $316,600.00. Following the transaction, the director now directly owns 16,329 shares in the company, valued at approximately $2,067,904.56. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Vicky B. Gregg sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $126.64, for a total transaction of $316,600.00. Following the transaction, the director now directly owns 16,329 shares in the company, valued at approximately $2,067,904.56. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Michael E. Prevoznik sold 5,611 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $125.88, for a total value of $706,312.68. Following the transaction, the senior vice president now owns 38,478 shares in the company, valued at $4,843,610.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,150 shares of company stock valued at $1,913,202. Corporate insiders own 0.79% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on DGX shares. SVB Leerink started coverage on Quest Diagnostics in a research note on Monday, February 26th. They issued a “market perform” rating and a $135.00 target price for the company. StockNews.com downgraded Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Wednesday, April 17th. Barclays started coverage on Quest Diagnostics in a research note on Wednesday, January 3rd. They issued an “equal weight” rating and a $145.00 target price for the company. Jefferies Financial Group raised Quest Diagnostics from a “hold” rating to a “buy” rating and raised their price target for the company from $140.00 to $155.00 in a report on Wednesday, February 7th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $145.00 price target on shares of Quest Diagnostics in a report on Wednesday, March 20th. Ten research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $144.18.

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.