Dynamic Technology Lab Private Ltd Has $606,000 Stock Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

Dynamic Technology Lab Private Ltd lowered its holdings in Quest Diagnostics Incorporated (NYSE:DGX) by 24.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,904 shares of the medical research company’s stock after selling 1,257 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Quest Diagnostics were worth $606,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in DGX. Rothschild Investment LLC bought a new position in Quest Diagnostics during the second quarter worth $26,000. Larson Financial Group LLC lifted its stake in shares of Quest Diagnostics by 77.5% in the second quarter. Larson Financial Group LLC now owns 229 shares of the medical research company’s stock valued at $31,000 after buying an additional 100 shares during the period. Innealta Capital LLC acquired a new stake in Quest Diagnostics during the second quarter worth about $31,000. TruNorth Capital Management LLC bought a new position in Quest Diagnostics during the second quarter valued at about $33,000. Finally, EdgeRock Capital LLC acquired a new position in Quest Diagnostics in the 2nd quarter valued at approximately $35,000. 88.06% of the stock is owned by institutional investors.

Quest Diagnostics Stock Up 0.6 %

NYSE DGX opened at $163.32 on Friday. The stock’s 50 day simple moving average is $155.42 and its 200 day simple moving average is $149.00. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.25 and a quick ratio of 1.17. Quest Diagnostics Incorporated has a one year low of $123.04 and a one year high of $165.32. The firm has a market cap of $18.23 billion, a PE ratio of 21.95, a price-to-earnings-growth ratio of 2.81 and a beta of 0.89.

Quest Diagnostics (NYSE:DGX) last announced its earnings results on Tuesday, October 22nd. The medical research company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.04. Quest Diagnostics had a return on equity of 15.25% and a net margin of 8.82%. The company had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period last year, the company posted $2.22 earnings per share. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Quest Diagnostics Incorporated will post 8.9 earnings per share for the current fiscal year.

Quest Diagnostics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Tuesday, January 14th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, January 14th. This represents a $3.00 annualized dividend and a dividend yield of 1.84%. Quest Diagnostics’s dividend payout ratio (DPR) is currently 40.32%.

Insider Activity at Quest Diagnostics

In related news, SVP Karthik Kuppusamy sold 1,775 shares of Quest Diagnostics stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $156.92, for a total value of $278,533.00. Following the completion of the sale, the senior vice president now directly owns 9,734 shares in the company, valued at $1,527,459.28. This trade represents a 15.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Michael J. Deppe sold 18,755 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $154.05, for a total value of $2,889,207.75. Following the sale, the chief accounting officer now directly owns 34,941 shares of the company’s stock, valued at $5,382,661.05. This represents a 34.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on DGX. Piper Sandler boosted their price objective on Quest Diagnostics from $150.00 to $165.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. UBS Group boosted their price target on shares of Quest Diagnostics from $165.00 to $166.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Mizuho raised their price objective on shares of Quest Diagnostics from $160.00 to $174.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Truist Financial upped their target price on shares of Quest Diagnostics from $158.00 to $165.00 and gave the company a “hold” rating in a research note on Monday, October 7th. Finally, Citigroup raised their price target on shares of Quest Diagnostics from $165.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Nine analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $164.58.

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.