Quest Diagnostics Incorporated (NYSE:DGX) Position Decreased by Avanza Fonder AB

Avanza Fonder AB trimmed its position in Quest Diagnostics Incorporated (NYSE:DGX) by 3.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,163 shares of the medical research company’s stock after selling 325 shares during the quarter. Avanza Fonder AB’s holdings in Quest Diagnostics were worth $1,539,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in shares of Quest Diagnostics by 38.3% during the first quarter. GAMMA Investing LLC now owns 2,630 shares of the medical research company’s stock worth $445,000 after purchasing an additional 728 shares during the period. Harbor Capital Advisors Inc. raised its position in shares of Quest Diagnostics by 5.8% in the first quarter. Harbor Capital Advisors Inc. now owns 10,720 shares of the medical research company’s stock valued at $1,814,000 after purchasing an additional 586 shares during the period. Bruce G. Allen Investments LLC raised its position in shares of Quest Diagnostics by 57.8% in the first quarter. Bruce G. Allen Investments LLC now owns 183 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 67 shares during the period. Toth Financial Advisory Corp raised its position in shares of Quest Diagnostics by 4.9% in the first quarter. Toth Financial Advisory Corp now owns 22,369 shares of the medical research company’s stock valued at $3,785,000 after purchasing an additional 1,050 shares during the period. Finally, Capital Investment Advisors LLC increased its position in Quest Diagnostics by 15.4% during the first quarter. Capital Investment Advisors LLC now owns 3,764 shares of the medical research company’s stock worth $637,000 after acquiring an additional 502 shares during the period. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DGX has been the topic of a number of research reports. Piper Sandler boosted their target price on shares of Quest Diagnostics from $180.00 to $200.00 and gave the stock a “neutral” rating in a research report on Monday, April 28th. JPMorgan Chase & Co. upped their price target on shares of Quest Diagnostics from $180.00 to $190.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. Truist Financial lifted their target price on Quest Diagnostics from $182.00 to $190.00 and gave the company a “hold” rating in a research note on Wednesday, April 23rd. Citigroup cut Quest Diagnostics from a “buy” rating to a “neutral” rating and set a $185.00 price objective for the company. in a report on Tuesday, March 4th. Finally, Barclays boosted their price objective on Quest Diagnostics from $175.00 to $185.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 23rd. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $185.73.

Quest Diagnostics Price Performance

Shares of NYSE DGX opened at $176.83 on Thursday. The firm has a market cap of $19.74 billion, a PE ratio of 22.99, a PEG ratio of 2.16 and a beta of 0.49. The company has a current ratio of 1.10, a quick ratio of 1.02 and a debt-to-equity ratio of 0.82. Quest Diagnostics Incorporated has a 1-year low of $135.47 and a 1-year high of $179.99. The company has a fifty day moving average price of $172.08 and a 200 day moving average price of $165.42.

Quest Diagnostics (NYSE:DGX) last announced its earnings results on Tuesday, April 22nd. The medical research company reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.06. Quest Diagnostics had a net margin of 8.80% and a return on equity of 15.07%. The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.63 billion. Research analysts predict that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal year.

Quest Diagnostics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 21st. Shareholders of record on Monday, July 7th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date is Monday, July 7th. Quest Diagnostics’s dividend payout ratio (DPR) is currently 40.46%.

Insiders Place Their Bets

In other news, SVP Michael E. Prevoznik sold 4,643 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $170.00, for a total value of $789,310.00. Following the completion of the sale, the senior vice president now owns 38,117 shares of the company’s stock, valued at approximately $6,479,890. This represents a 10.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Mark E. Delaney sold 874 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $175.72, for a total value of $153,579.28. Following the completion of the sale, the senior vice president now directly owns 8,372 shares of the company’s stock, valued at approximately $1,471,127.84. The trade was a 9.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,263 shares of company stock valued at $7,979,355 in the last quarter. 8.16% of the stock is currently owned by insiders.

Quest Diagnostics Profile

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.