QRG Capital Management Inc. Grows Position in Quest Diagnostics Incorporated (NYSE:DGX)

QRG Capital Management Inc. raised its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 2.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 73,643 shares of the medical research company’s stock after purchasing an additional 2,012 shares during the period. QRG Capital Management Inc. owned 0.07% of Quest Diagnostics worth $11,110,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Mizuho Securities USA LLC raised its stake in Quest Diagnostics by 5,168.5% in the third quarter. Mizuho Securities USA LLC now owns 451,403 shares of the medical research company’s stock worth $70,080,000 after buying an additional 442,835 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Quest Diagnostics by 25.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 747,298 shares of the medical research company’s stock worth $116,018,000 after acquiring an additional 151,365 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Quest Diagnostics by 14.8% during the 4th quarter. Bank of New York Mellon Corp now owns 881,764 shares of the medical research company’s stock worth $133,023,000 after purchasing an additional 113,956 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Quest Diagnostics by 535.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 128,440 shares of the medical research company’s stock valued at $19,376,000 after purchasing an additional 108,224 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in Quest Diagnostics by 23.8% in the fourth quarter. Principal Financial Group Inc. now owns 543,472 shares of the medical research company’s stock valued at $81,994,000 after purchasing an additional 104,495 shares during the last quarter. Institutional investors own 88.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. UBS Group raised their price target on shares of Quest Diagnostics from $166.00 to $170.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Barclays upped their price target on Quest Diagnostics from $168.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Leerink Partners upgraded Quest Diagnostics from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $169.00 to $174.00 in a research note on Monday, January 6th. Leerink Partnrs upgraded Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, Jefferies Financial Group restated a “buy” rating and set a $185.00 price target (up previously from $175.00) on shares of Quest Diagnostics in a research note on Tuesday, December 10th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $178.23.

Insider Activity at Quest Diagnostics

In related news, EVP Catherine T. Doherty sold 535 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $169.71, for a total value of $90,794.85. Following the completion of the sale, the executive vice president now owns 71,356 shares of the company’s stock, valued at approximately $12,109,826.76. The trade was a 0.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael E. Prevoznik sold 604 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $170.99, for a total transaction of $103,277.96. Following the transaction, the senior vice president now directly owns 39,845 shares in the company, valued at approximately $6,813,096.55. The trade was a 1.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,792 shares of company stock worth $465,998 in the last three months. Company insiders own 0.79% of the company’s stock.

Quest Diagnostics Trading Down 1.1 %

Shares of Quest Diagnostics stock opened at $171.54 on Friday. The stock has a market cap of $19.04 billion, a PE ratio of 22.31, a price-to-earnings-growth ratio of 2.16 and a beta of 0.91. The firm has a fifty day moving average price of $159.23 and a 200 day moving average price of $156.58. Quest Diagnostics Incorporated has a 1 year low of $123.66 and a 1 year high of $176.44. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.10 and a quick ratio of 1.02.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings data on Thursday, January 30th. The medical research company reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.19 by $0.04. Quest Diagnostics had a return on equity of 15.07% and a net margin of 8.80%. Equities research analysts predict that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current year.

Quest Diagnostics Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be paid a dividend of $0.80 per share. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.87%. Quest Diagnostics’s dividend payout ratio (DPR) is presently 41.61%.

Quest Diagnostics Company 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.