Barclays PLC Raises Position in Quest Diagnostics Incorporated (NYSE:DGX)

Barclays PLC lifted its holdings in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 35.9% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 298,922 shares of the medical research company's stock after buying an additional 78,980 shares during the period. Barclays PLC owned approximately 0.27% of Quest Diagnostics worth $46,407,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of DGX. Rothschild Investment LLC bought a new position in Quest Diagnostics in the 2nd quarter valued at $26,000. Larson Financial Group LLC grew its position in Quest Diagnostics by 77.5% during 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 purchased a new stake in Quest Diagnostics during the second quarter worth about $31,000. EdgeRock Capital LLC bought a new stake in Quest Diagnostics in the second quarter worth about $35,000. Finally, Sunbelt Securities Inc. bought a new stake in Quest Diagnostics in the second quarter worth about $40,000. 88.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Truist Financial raised their price target on shares of Quest Diagnostics from $158.00 to $165.00 and gave the stock a "hold" rating in a research note on Monday, October 7th. Evercore ISI assumed coverage on Quest Diagnostics in a research note on Wednesday, August 28th. They issued an "in-line" rating and a $165.00 target price on the stock. Mizuho increased their price target on Quest Diagnostics from $160.00 to $174.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. StockNews.com cut Quest Diagnostics from a "buy" rating to a "hold" rating in a research note on Monday, November 18th. Finally, Piper Sandler increased their target price on shares of Quest Diagnostics from $150.00 to $165.00 and gave the stock a "neutral" rating in a research report on Monday, October 28th. Nine analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $168.92.

Insider Transactions at Quest Diagnostics

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

Quest Diagnostics Price Performance

NYSE DGX traded down $1.09 on Friday, hitting $154.98. The stock had a trading volume of 849,807 shares, compared to its average volume of 914,431. The firm has a 50-day moving average of $156.48 and a 200-day moving average of $150.19. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.17 and a current ratio of 1.25. Quest Diagnostics Incorporated has a 52-week low of $123.04 and a 52-week high of $165.32. The company has a market capitalization of $17.30 billion, a price-to-earnings ratio of 20.83, a price-to-earnings-growth ratio of 2.69 and a beta of 0.89.

Quest Diagnostics (NYSE:DGX - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The medical research company reported $2.30 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter last year, the business posted $2.22 earnings per share. The firm's revenue was up 8.5% compared to the same quarter last year. Equities analysts expect that Quest Diagnostics Incorporated will post 8.9 EPS for the current year.

Quest Diagnostics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Tuesday, January 14th will be given a dividend of $0.75 per share. The ex-dividend date is Tuesday, January 14th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.94%. Quest Diagnostics's dividend payout ratio (DPR) is presently 40.32%.

About Quest Diagnostics

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.