Quest Diagnostics Incorporated (NYSE:DGX) Shares Acquired by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG raised its stake in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 46.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,702 shares of the medical research company's stock after buying an additional 4,945 shares during the period. J. Safra Sarasin Holding AG's holdings in Quest Diagnostics were worth $2,369,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Stifel Financial Corp raised its holdings in Quest Diagnostics by 75.8% during the fourth quarter. Stifel Financial Corp now owns 126,085 shares of the medical research company's stock worth $19,021,000 after purchasing an additional 54,383 shares during the last quarter. Van Lanschot Kempen Investment Management N.V. grew its stake in Quest Diagnostics by 30.9% in the 4th quarter. Van Lanschot Kempen Investment Management N.V. now owns 514,558 shares of the medical research company's stock valued at $77,626,000 after acquiring an additional 121,533 shares during the last quarter. MetLife Investment Management LLC increased its holdings in Quest Diagnostics by 2.0% during the 4th quarter. MetLife Investment Management LLC now owns 29,528 shares of the medical research company's stock valued at $4,455,000 after acquiring an additional 591 shares in the last quarter. Norinchukin Bank The increased its stake in shares of Quest Diagnostics by 9.1% during the 4th quarter. Norinchukin Bank The now owns 4,962 shares of the medical research company's stock worth $749,000 after purchasing an additional 412 shares in the last quarter. Finally, Forum Financial Management LP raised its position in shares of Quest Diagnostics by 72.9% during the 4th quarter. Forum Financial Management LP now owns 3,355 shares of the medical research company's stock worth $506,000 after purchasing an additional 1,415 shares during the last quarter. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on DGX shares. Piper Sandler reiterated a "neutral" rating and set a $180.00 target price (up previously from $165.00) on shares of Quest Diagnostics in a report on Monday, February 3rd. Barclays boosted their target price on shares of Quest Diagnostics from $175.00 to $185.00 and gave the company an "equal weight" rating in a research note on Wednesday. Leerink Partners raised shares of Quest Diagnostics from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $169.00 to $174.00 in a research note on Monday, January 6th. UBS Group upped their price objective on shares of Quest Diagnostics from $166.00 to $170.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Finally, Redburn Partners set a $195.00 target price on shares of Quest Diagnostics in a research note on Wednesday, April 2nd. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Quest Diagnostics currently has an average rating of "Moderate Buy" and an average target price of $183.73.

Insider Buying and Selling

In related news, Director Vicky B. Gregg sold 1,250 shares of the firm's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $164.57, for a total transaction of $205,712.50. Following the transaction, the director now directly owns 16,867 shares in the company, valued at $2,775,802.19. This trade represents a 6.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Catherine T. Doherty sold 535 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $169.71, for a total transaction of $90,794.85. Following the completion of the transaction, the executive vice president now owns 71,356 shares in the company, valued at approximately $12,109,826.76. The trade was a 0.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,903 shares of company stock worth $9,460,221. Insiders own 8.16% of the company's stock.

Quest Diagnostics Stock Down 1.2 %

Shares of DGX traded down $2.12 during mid-day trading on Friday, reaching $173.75. 1,033,426 shares of the stock traded hands, compared to its average volume of 965,328. The stock has a fifty day simple moving average of $168.96 and a 200 day simple moving average of $161.06. Quest Diagnostics Incorporated has a 12-month low of $134.50 and a 12-month high of $178.87. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.82. The firm has a market cap of $19.39 billion, a price-to-earnings ratio of 22.59, a P/E/G ratio of 2.16 and a beta of 0.78.

Quest Diagnostics (NYSE:DGX - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The medical research company reported $2.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.06. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.63 billion. Quest Diagnostics had a return on equity of 15.07% and a net margin of 8.80%. Sell-side analysts expect that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 7th were paid a dividend of $0.80 per share. This is a boost from Quest Diagnostics's previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a dividend yield of 1.84%. The ex-dividend date was Monday, April 7th. Quest Diagnostics's dividend payout ratio is 40.46%.

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.