Lbp Am Sa Has $3.39 Million Stock Position in Quest Diagnostics Incorporated (NYSE:DGX)

LBP AM SA raised its holdings in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 200.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,472 shares of the medical research company's stock after buying an additional 14,996 shares during the quarter. LBP AM SA's holdings in Quest Diagnostics were worth $3,390,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in shares of Quest Diagnostics in the fourth quarter worth $67,447,000. Mizuho Securities USA LLC grew its position in Quest Diagnostics by 5,168.5% in the 3rd quarter. Mizuho Securities USA LLC now owns 451,403 shares of the medical research company's stock worth $70,080,000 after purchasing an additional 442,835 shares during the last quarter. BNP Paribas Financial Markets increased 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 purchasing 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% during the fourth quarter. Bank of New York Mellon Corp now owns 881,764 shares of the medical research company's stock valued at $133,023,000 after buying an additional 113,956 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Quest Diagnostics by 535.3% in 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 buying an additional 108,224 shares during the period. 88.06% of the stock is owned by institutional investors.

Remove Ads

Insider Activity at Quest Diagnostics

In related news, Director Vicky B. Gregg sold 1,250 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $164.57, for a total value of $205,712.50. Following the completion of the transaction, the director now directly owns 16,867 shares in the company, valued at approximately $2,775,802.19. The trade was a 6.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Catherine T. Doherty sold 535 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $169.71, for a total value of $90,794.85. Following the completion of the transaction, the executive vice president now owns 71,356 shares of the company's stock, valued at $12,109,826.76. This represents a 0.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 14,157 shares of company stock worth $2,423,755. 0.79% of the stock is owned by company insiders.

Quest Diagnostics Price Performance

Shares of NYSE:DGX traded down $1.76 on Thursday, hitting $166.25. The stock had a trading volume of 994,285 shares, compared to its average volume of 872,928. The firm's 50 day moving average price is $164.63 and its 200-day moving average price is $158.48. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.02 and a current ratio of 1.10. Quest Diagnostics Incorporated has a twelve month low of $125.42 and a twelve month high of $178.87. The company has a market capitalization of $18.45 billion, a price-to-earnings ratio of 21.62, a price-to-earnings-growth ratio of 2.16 and a beta of 0.92.

Quest Diagnostics (NYSE:DGX - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The medical research company reported $2.23 EPS for the quarter, beating 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%. On average, equities research analysts predict that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current year.

Quest Diagnostics Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be given a $0.80 dividend. The ex-dividend date of this dividend is Monday, April 7th. This is a positive change from Quest Diagnostics's previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a dividend yield of 1.92%. Quest Diagnostics's payout ratio is currently 41.61%.

Analysts Set New Price Targets

DGX has been the subject of several recent research reports. Morgan Stanley raised Quest Diagnostics from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $145.00 to $172.00 in a report on Tuesday, December 17th. Mizuho lifted their price target on shares of Quest Diagnostics from $177.00 to $178.00 and gave the stock an "outperform" rating in a research note on Monday, February 3rd. Barclays lifted their price target on shares of Quest Diagnostics from $168.00 to $175.00 and gave the stock an "equal weight" rating in a research note on Friday, January 31st. Piper Sandler reiterated a "neutral" rating and set a $180.00 price target (up previously from $165.00) on shares of Quest Diagnostics in a research note on Monday, February 3rd. Finally, Leerink Partners upgraded shares of Quest Diagnostics from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $169.00 to $174.00 in a research note on Monday, January 6th. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $178.38.

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.