Quest Diagnostics Incorporated (NYSE:DGX) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company grew its position in Quest Diagnostics Incorporated (NYSE:DGX) by 0.8% during the second quarter, Holdings Channel reports. The firm owned 126,117 shares of the medical research company’s stock after acquiring an additional 1,053 shares during the period. The Manufacturers Life Insurance Company’s holdings in Quest Diagnostics were worth $17,263,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of DGX. MBB Public Markets I LLC acquired a new stake in shares of Quest Diagnostics in the second quarter worth $1,061,000. Dark Forest Capital Management LP boosted its holdings in Quest Diagnostics by 560.2% in the second quarter. Dark Forest Capital Management LP now owns 13,501 shares of the medical research company’s stock valued at $1,848,000 after purchasing an additional 11,456 shares during the last quarter. APG Asset Management N.V. grew its position in Quest Diagnostics by 13.5% during the 2nd quarter. APG Asset Management N.V. now owns 363,453 shares of the medical research company’s stock worth $46,419,000 after purchasing an additional 43,308 shares during the period. AQR Capital Management LLC raised its stake in shares of Quest Diagnostics by 18.6% during the 2nd quarter. AQR Capital Management LLC now owns 147,469 shares of the medical research company’s stock valued at $20,186,000 after buying an additional 23,150 shares during the last quarter. Finally, AXA S.A. lifted its holdings in shares of Quest Diagnostics by 564.7% in the 2nd quarter. AXA S.A. now owns 14,603 shares of the medical research company’s stock valued at $1,999,000 after buying an additional 12,406 shares during the period. 88.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Quest Diagnostics

In other news, SVP Mark E. Delaney sold 420 shares of Quest Diagnostics stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $143.08, for a total transaction of $60,093.60. Following the transaction, the senior vice president now owns 5,019 shares in the company, valued at approximately $718,118.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Mark E. Delaney sold 420 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $143.08, for a total value of $60,093.60. Following the transaction, the senior vice president now directly owns 5,019 shares in the company, valued at $718,118.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Karthik Kuppusamy sold 1,990 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $153.26, for a total value of $304,987.40. Following the sale, the senior vice president now directly owns 11,459 shares of the company’s stock, valued at approximately $1,756,206.34. The disclosure for this sale can be found here. 0.79% of the stock is owned by company insiders.

Quest Diagnostics Trading Up 0.6 %

Shares of DGX opened at $154.86 on Thursday. Quest Diagnostics Incorporated has a 52-week low of $120.10 and a 52-week high of $159.36. The stock has a market cap of $17.20 billion, a PE ratio of 20.84, a price-to-earnings-growth ratio of 2.80 and a beta of 0.89. The firm’s fifty day moving average is $151.92 and its two-hundred day moving average is $142.44. The company has a quick ratio of 0.91, a current ratio of 1.00 and a debt-to-equity ratio of 0.57.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings data on Tuesday, July 23rd. The medical research company reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.04. Quest Diagnostics had a net margin of 8.99% and a return on equity of 15.35%. The company had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.39 billion. During the same quarter in the prior year, the company earned $2.30 EPS. Quest Diagnostics’s revenue was up 2.5% compared to the same quarter last year. Research analysts forecast that Quest Diagnostics Incorporated will post 8.89 earnings per share for the current fiscal year.

Quest Diagnostics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Friday, October 4th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date is Friday, October 4th. Quest Diagnostics’s dividend payout ratio (DPR) is currently 40.38%.

Analysts Set New Price Targets

DGX has been the topic of several analyst reports. Piper Sandler raised their target price on Quest Diagnostics from $145.00 to $150.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Citigroup upgraded shares of Quest Diagnostics from a “neutral” rating to a “buy” rating and boosted their target price for the company from $145.00 to $165.00 in a research note on Wednesday, July 10th. Evercore ISI started coverage on shares of Quest Diagnostics in a research report on Wednesday, August 28th. They set an “in-line” rating and a $165.00 price target on the stock. Barclays increased their target price on shares of Quest Diagnostics from $144.00 to $154.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 27th. Finally, Truist Financial increased their price target on Quest Diagnostics from $150.00 to $158.00 and gave the stock a “hold” rating in a research report on Monday, July 15th. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Quest Diagnostics has an average rating of “Hold” and a consensus target price of $154.33.

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.