Texas Permanent School Fund Corp Reduces Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

Texas Permanent School Fund Corp reduced its position in Quest Diagnostics Incorporated (NYSE:DGX) by 1.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,947 shares of the medical research company’s stock after selling 269 shares during the period. Texas Permanent School Fund Corp’s holdings in Quest Diagnostics were worth $3,054,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Norges Bank acquired a new stake in shares of Quest Diagnostics during the fourth quarter worth approximately $140,472,000. Nuance Investments LLC acquired a new position in Quest Diagnostics during the 4th quarter worth $83,070,000. Pathstone Holdings LLC acquired a new position in Quest Diagnostics during the 4th quarter worth $46,342,000. AEGON ASSET MANAGEMENT UK Plc bought a new stake in shares of Quest Diagnostics in the 4th quarter worth about $30,869,000. Finally, BNP Paribas Financial Markets raised its stake in shares of Quest Diagnostics by 156.9% in the 4th quarter. BNP Paribas Financial Markets now owns 358,856 shares of the medical research company’s stock valued at $49,479,000 after purchasing an additional 219,187 shares in the last quarter. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on DGX. Barclays lifted their price target on Quest Diagnostics from $138.00 to $144.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 25th. StockNews.com upgraded Quest Diagnostics from a “hold” rating to a “buy” rating in a report on Wednesday, July 10th. Robert W. Baird upped their price target on Quest Diagnostics from $145.00 to $153.00 and gave the company a “neutral” rating in a research report on Friday, July 5th. Truist Financial lifted their price objective on shares of Quest Diagnostics from $145.00 to $150.00 and gave the stock a “hold” rating in a report on Wednesday, April 24th. Finally, Mizuho increased their target price on shares of Quest Diagnostics from $150.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Quest Diagnostics currently has an average rating of “Hold” and an average price target of $148.69.

Quest Diagnostics Trading Up 0.4 %

Quest Diagnostics stock opened at $144.11 on Monday. Quest Diagnostics Incorporated has a 52-week low of $119.59 and a 52-week high of $145.62. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $16.01 billion, a price-to-earnings ratio of 19.40, a PEG ratio of 3.13 and a beta of 0.89. The firm has a 50-day moving average price of $139.84 and a two-hundred day moving average price of $134.02.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings data on Tuesday, April 23rd. The medical research company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.18. Quest Diagnostics had a return on equity of 15.52% and a net margin of 9.11%. The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.29 billion. During the same period in the previous year, the firm posted $2.04 earnings per share. The business’s revenue was up 1.7% on a year-over-year basis. Sell-side analysts expect that Quest Diagnostics Incorporated will post 8.79 earnings per share for the current year.

Quest Diagnostics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 22nd. Stockholders of record on Monday, July 8th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Monday, July 8th. Quest Diagnostics’s dividend payout ratio (DPR) is 40.38%.

Insider Activity at Quest Diagnostics

In related news, SVP Karthik Kuppusamy sold 1,760 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $140.00, for a total value of $246,400.00. Following the completion of the sale, the senior vice president now owns 13,435 shares of the company’s stock, valued at $1,880,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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.