ING Groep NV Grows Stock Position in Quest Diagnostics Incorporated (NYSE:DGX)

ING Groep NV grew its position in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 11.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 43,787 shares of the medical research company's stock after acquiring an additional 4,340 shares during the quarter. ING Groep NV's holdings in Quest Diagnostics were worth $6,798,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of DGX. Rothschild Investment LLC purchased a new stake in Quest Diagnostics during the second quarter valued at approximately $26,000. Innealta Capital LLC bought a new stake in Quest Diagnostics in the second quarter worth $31,000. Larson Financial Group LLC boosted its stake 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 worth $31,000 after buying an additional 100 shares during the period. TruNorth Capital Management LLC purchased a new stake in shares of Quest Diagnostics in the second quarter valued at $33,000. Finally, EdgeRock Capital LLC bought a new stake in shares of Quest Diagnostics in the 2nd quarter worth about $35,000. 88.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on DGX shares. Baird R W raised shares of Quest Diagnostics from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 23rd. Truist Financial increased their target price on Quest Diagnostics from $158.00 to $165.00 and gave the stock a "hold" rating in a research note on Monday, October 7th. UBS Group boosted their target price on shares of Quest Diagnostics from $165.00 to $166.00 and gave the company a "neutral" rating in a research note on Wednesday, October 23rd. Evercore ISI started coverage on shares of Quest Diagnostics in a report on Wednesday, August 28th. They set an "in-line" rating and a $165.00 price objective for the company. Finally, Barclays upped their target price on shares of Quest Diagnostics from $154.00 to $168.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 23rd. Nine research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Quest Diagnostics has a consensus rating of "Hold" and an average target price of $164.58.

Quest Diagnostics Stock Up 2.3 %

DGX stock traded up $3.60 during trading on Friday, reaching $160.44. 2,725,889 shares of the company traded hands, compared to its average volume of 924,085. The company has a market capitalization of $17.91 billion, a price-to-earnings ratio of 21.56, a price-to-earnings-growth ratio of 2.79 and a beta of 0.89. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.17 and a current ratio of 1.25. The business has a 50 day simple moving average of $153.99 and a 200 day simple moving average of $147.41. Quest Diagnostics Incorporated has a 12 month low of $123.04 and a 12 month high of $162.59.

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. The firm had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.43 billion. Quest Diagnostics had a net margin of 8.82% and a return on equity of 15.25%. The company's quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.22 EPS. On average, equities research analysts anticipate that Quest Diagnostics Incorporated will post 8.9 earnings per share for the current fiscal year.

Quest Diagnostics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Tuesday, January 14th will be given a $0.75 dividend. The ex-dividend date is Tuesday, January 14th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.87%. Quest Diagnostics's payout ratio is 40.32%.

Insider Buying and Selling

In related news, 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 completion of the transaction, the senior vice president now owns 11,459 shares in the company, valued at $1,756,206.34. This trade represents a 14.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Michael J. Deppe sold 18,755 shares of the business's stock in a transaction dated 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 sale, the chief accounting officer now owns 34,941 shares in the company, valued at approximately $5,382,661.05. The trade was a 34.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,520 shares of company stock worth $3,472,728 in the last ninety days. 0.79% of the stock is owned by 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.