abrdn plc Has $71.50 Million Stock Position in Quest Diagnostics Incorporated (NYSE:DGX)

abrdn plc boosted its position in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 3.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 461,887 shares of the medical research company's stock after acquiring an additional 13,938 shares during the period. abrdn plc owned 0.42% of Quest Diagnostics worth $71,500,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. State of Alaska Department of Revenue grew its position in shares of Quest Diagnostics by 50.9% in the 1st quarter. State of Alaska Department of Revenue now owns 41,796 shares of the medical research company's stock worth $5,562,000 after buying an additional 14,090 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Quest Diagnostics by 16.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 131,329 shares of the medical research company's stock worth $17,481,000 after purchasing an additional 18,642 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Quest Diagnostics by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 13,921,955 shares of the medical research company's stock worth $1,853,151,000 after buying an additional 345,754 shares in the last quarter. Seven Eight Capital LP purchased a new stake in Quest Diagnostics during the first quarter valued at approximately $729,000. Finally, Janus Henderson Group PLC lifted its position in Quest Diagnostics by 126.0% in the first quarter. Janus Henderson Group PLC now owns 37,305 shares of the medical research company's stock worth $4,966,000 after buying an additional 20,800 shares during the last quarter. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Quest Diagnostics

In other Quest Diagnostics news, SVP Karthik Kuppusamy sold 1,775 shares of Quest Diagnostics stock in a transaction on Monday, October 28th. The shares were sold at an average price of $156.92, for a total transaction of $278,533.00. Following the completion of the sale, the senior vice president now owns 9,734 shares of the company's stock, valued at $1,527,459.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.79% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on DGX shares. Evercore ISI began coverage on Quest Diagnostics in a report on Wednesday, August 28th. They issued an "in-line" rating and a $165.00 target price for the company. Mizuho raised their price objective on Quest Diagnostics from $160.00 to $174.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. Citigroup upped their price target on shares of Quest Diagnostics from $165.00 to $185.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. StockNews.com cut Quest Diagnostics from a "buy" rating to a "hold" rating in a research note on Wednesday, October 23rd. Finally, Truist Financial boosted their target price on shares of Quest Diagnostics from $158.00 to $165.00 and gave the company a "hold" rating in a research report on Monday, October 7th. Nine analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Quest Diagnostics presently has a consensus rating of "Hold" and a consensus target price of $164.58.

Quest Diagnostics Stock Down 0.0 %

DGX traded down $0.03 on Wednesday, reaching $155.93. The company's stock had a trading volume of 660,949 shares, compared to its average volume of 921,420. Quest Diagnostics Incorporated has a 1 year low of $123.04 and a 1 year high of $160.95. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.00 and a quick ratio of 0.91. The stock has a market cap of $17.32 billion, a price-to-earnings ratio of 21.02, a price-to-earnings-growth ratio of 2.45 and a beta of 0.89. The business's 50 day moving average is $153.32 and its 200 day moving average is $145.30.

Quest Diagnostics (NYSE:DGX - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The medical research company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.04. The firm had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.43 billion. Quest Diagnostics had a net margin of 8.99% and a return on equity of 15.35%. Quest Diagnostics's quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.22 earnings per share. As a group, research analysts forecast that Quest Diagnostics Incorporated will post 8.89 EPS for the current fiscal year.

Quest Diagnostics Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Friday, October 4th were paid a $0.75 dividend. The ex-dividend date was Friday, October 4th. This represents a $3.00 annualized dividend and a dividend yield of 1.92%. Quest Diagnostics's dividend payout ratio is currently 40.38%.

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.