Quest Diagnostics Incorporated (NYSE:DGX) Shares Bought by Handelsbanken Fonder AB

Handelsbanken Fonder AB raised its position in Quest Diagnostics Incorporated (NYSE:DGX) by 1.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,488 shares of the medical research company’s stock after purchasing an additional 542 shares during the quarter. Handelsbanken Fonder AB’s holdings in Quest Diagnostics were worth $4,298,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Sierra Ocean LLC acquired a new position in Quest Diagnostics in the 4th quarter valued at about $33,000. Versant Capital Management Inc raised its stake in shares of Quest Diagnostics by 340.4% in the 4th quarter. Versant Capital Management Inc now owns 251 shares of the medical research company’s stock valued at $38,000 after acquiring an additional 194 shares during the period. First Financial Corp IN purchased a new stake in shares of Quest Diagnostics in the 4th quarter valued at approximately $38,000. Global Trust Asset Management LLC purchased a new stake in shares of Quest Diagnostics in the 4th quarter valued at approximately $49,000. Finally, Sentry Investment Management LLC purchased a new stake in shares of Quest Diagnostics in the 3rd quarter valued at approximately $82,000. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Quest Diagnostics Trading Up 0.2 %

NYSE DGX opened at $172.44 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.82. Quest Diagnostics Incorporated has a 52 week low of $123.66 and a 52 week high of $172.91. The stock has a market capitalization of $19.25 billion, a PE ratio of 22.42, a price-to-earnings-growth ratio of 2.16 and a beta of 0.91. The firm has a 50 day moving average of $157.56 and a two-hundred day moving average of $156.00.

Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings results on Thursday, January 30th. The medical research company reported $2.23 EPS for the quarter, topping the consensus estimate of $2.19 by $0.04. Quest Diagnostics had a net margin of 8.80% and a return on equity of 15.07%. As a group, research analysts expect that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend is Monday, April 7th. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.75. Quest Diagnostics’s payout ratio is 39.01%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. StockNews.com downgraded shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Bank of America boosted their price target on shares of Quest Diagnostics from $179.00 to $182.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Jefferies Financial Group reissued a “buy” rating and issued a $185.00 price target (up from $175.00) on shares of Quest Diagnostics in a research note on Tuesday, December 10th. Truist Financial boosted their price target on shares of Quest Diagnostics from $172.00 to $182.00 and gave the company a “hold” rating in a research note on Friday, January 31st. Finally, Leerink Partners raised shares of Quest Diagnostics from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $169.00 to $174.00 in a research note on Monday, January 6th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $178.23.

Insiders Place Their Bets

In other news, SVP Mark E. Delaney sold 403 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $164.30, for a total transaction of $66,212.90. Following the transaction, the senior vice president now directly owns 4,624 shares in the company, valued at approximately $759,723.20. This trade represents a 8.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Michael E. Prevoznik sold 604 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $170.99, for a total transaction of $103,277.96. Following the transaction, the senior vice president now owns 39,845 shares in the company, valued at approximately $6,813,096.55. This trade represents a 1.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,792 shares of company stock worth $465,998 in the last 90 days. Corporate insiders own 0.79% of the company’s stock.

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.