Generali Asset Management SPA SGR Purchases New Position in Quest Diagnostics Incorporated (NYSE:DGX)

Generali Asset Management SPA SGR acquired a new position in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 29,631 shares of the medical research company's stock, valued at approximately $4,470,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of DGX. Raymond James Financial Inc. purchased a new position in Quest Diagnostics in the 4th quarter worth approximately $67,447,000. BNP Paribas Financial Markets grew its holdings in shares of Quest Diagnostics by 25.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 747,298 shares of the medical research company's stock worth $116,018,000 after acquiring an additional 151,365 shares during the period. Bank of New York Mellon Corp raised its position in shares of Quest Diagnostics by 14.8% in the 4th quarter. Bank of New York Mellon Corp now owns 881,764 shares of the medical research company's stock worth $133,023,000 after acquiring an additional 113,956 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Quest Diagnostics by 535.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 128,440 shares of the medical research company's stock valued at $19,376,000 after purchasing an additional 108,224 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Quest Diagnostics by 23.8% in the 4th quarter. Principal Financial Group Inc. now owns 543,472 shares of the medical research company's stock worth $81,994,000 after buying an additional 104,495 shares during the period. Institutional investors own 88.06% of the company's stock.

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Quest Diagnostics Price Performance

Shares of DGX traded up $0.50 during mid-day trading on Friday, reaching $166.96. The stock had a trading volume of 1,437,214 shares, compared to its average volume of 878,072. The business has a fifty day moving average of $165.18 and a 200 day moving average of $158.61. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.02 and a current ratio of 1.10. The firm has a market cap of $18.53 billion, a price-to-earnings ratio of 21.71, a PEG ratio of 2.16 and a beta of 0.92. Quest Diagnostics Incorporated has a 12 month low of $125.42 and a 12 month high of $178.87.

Quest Diagnostics (NYSE:DGX - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The medical research company reported $2.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.19 by $0.04. Quest Diagnostics had a return on equity of 15.07% and a net margin of 8.80%. Equities analysts predict that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.92%. This is an increase from Quest Diagnostics's previous quarterly dividend of $0.75. The ex-dividend date is Monday, April 7th. Quest Diagnostics's dividend payout ratio is presently 41.61%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Morgan Stanley raised Quest Diagnostics from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $145.00 to $172.00 in a report on Tuesday, December 17th. UBS Group increased their price target on Quest Diagnostics from $166.00 to $170.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. JPMorgan Chase & Co. lifted their price objective on Quest Diagnostics from $173.00 to $180.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. Bank of America increased their target price on Quest Diagnostics from $179.00 to $182.00 and gave the company a "buy" rating in a report on Friday, December 13th. Finally, Jefferies Financial Group restated a "buy" rating and set a $185.00 price target (up from $175.00) on shares of Quest Diagnostics in a research note on Tuesday, December 10th. Eight equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $178.38.

Insider Buying and Selling at Quest Diagnostics

In related news, SVP Michael E. Prevoznik sold 4,643 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $170.00, for a total transaction of $789,310.00. Following the completion of the transaction, the senior vice president now directly owns 38,117 shares of the company's stock, valued at approximately $6,479,890. This represents a 10.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Mark E. Delaney sold 403 shares of Quest Diagnostics stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $164.30, for a total value of $66,212.90. Following the completion of the sale, the senior vice president now directly owns 4,624 shares in the company, valued at approximately $759,723.20. The trade was a 8.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,157 shares of company stock valued at $2,423,755 in the last three months. 0.79% of the stock is currently owned by corporate insiders.

Quest Diagnostics 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.