Quest Diagnostics Incorporated $DGX Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP raised its holdings in Quest Diagnostics Incorporated (NYSE:DGX) by 0.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,949,535 shares of the medical research company’s stock after purchasing an additional 17,987 shares during the period. Dimensional Fund Advisors LP owned 1.76% of Quest Diagnostics worth $382,085,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of DGX. Brighton Jones LLC acquired a new stake in Quest Diagnostics during the 4th quarter valued at $323,000. Cresset Asset Management LLC increased its position in Quest Diagnostics by 4.6% during the second quarter. Cresset Asset Management LLC now owns 4,003 shares of the medical research company’s stock worth $719,000 after buying an additional 176 shares in the last quarter. Gabelli Funds LLC acquired a new position in shares of Quest Diagnostics in the second quarter worth $287,000. Bank of Nova Scotia raised its holdings in shares of Quest Diagnostics by 7.2% in the second quarter. Bank of Nova Scotia now owns 14,339 shares of the medical research company’s stock worth $2,576,000 after acquiring an additional 962 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in shares of Quest Diagnostics by 17.1% in the second quarter. Daiwa Securities Group Inc. now owns 18,599 shares of the medical research company’s stock valued at $3,341,000 after acquiring an additional 2,718 shares in the last quarter. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Quest Diagnostics

In other Quest Diagnostics news, SVP Karthik Kuppusamy sold 8,147 shares of Quest Diagnostics stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $200.00, for a total value of $1,629,400.00. Following the transaction, the senior vice president owned 13,510 shares in the company, valued at $2,702,000. This trade represents a 37.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO J. E. Davis sold 10,000 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $194.14, for a total value of $1,941,400.00. Following the sale, the chief executive officer owned 132,423 shares of the company’s stock, valued at approximately $25,708,601.22. The trade was a 7.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.88% of the stock is currently owned by company insiders.

Quest Diagnostics Price Performance

DGX stock opened at $206.59 on Wednesday. Quest Diagnostics Incorporated has a 52-week low of $165.78 and a 52-week high of $219.20. The stock’s fifty day simple moving average is $201.19 and its 200-day simple moving average is $196.73. The company has a quick ratio of 1.08, a current ratio of 1.18 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $22.87 billion, a price-to-earnings ratio of 22.83, a price-to-earnings-growth ratio of 2.47 and a beta of 0.58.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings data on Tuesday, April 21st. The medical research company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.37 by $0.13. Quest Diagnostics had a return on equity of 15.60% and a net margin of 9.07%.The business had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.83 billion. During the same quarter in the previous year, the business earned $1.94 earnings per share. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. Equities research analysts expect that Quest Diagnostics Incorporated will post 10.72 EPS for the current year.

Quest Diagnostics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 8th will be issued a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Wednesday, July 8th. Quest Diagnostics’s dividend payout ratio is presently 38.01%.

Wall Street Analyst Weigh In

DGX has been the topic of a number of analyst reports. Wall Street Zen lowered Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Monday. Barclays boosted their target price on shares of Quest Diagnostics from $225.00 to $230.00 and gave the company an “overweight” rating in a research note on Wednesday, April 22nd. Evercore set a $225.00 target price on shares of Quest Diagnostics in a report on Tuesday, April 21st. Truist Financial raised their price target on shares of Quest Diagnostics from $220.00 to $225.00 and gave the stock a “hold” rating in a research note on Wednesday, April 22nd. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $225.00 price target on shares of Quest Diagnostics in a report on Tuesday, April 21st. Seven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $217.17.

About Quest Diagnostics

Quest Diagnostics (NYSE: DGX) is a leading provider of diagnostic information services that supports clinical decision-making for patients, physicians and healthcare organizations. The company operates a network of clinical laboratories and patient service centers that perform a broad range of laboratory tests and diagnostic assays used in routine care, disease diagnosis, monitoring and screening.

Its services span core clinical laboratory testing, anatomic pathology, molecular and genomic diagnostics, infectious disease testing and toxicology.