Geode Capital Management LLC Boosts Stock Position in Quest Diagnostics Incorporated (NYSE:DGX)

Geode Capital Management LLC increased its stake in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 1.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,616,653 shares of the medical research company's stock after acquiring an additional 39,217 shares during the period. Geode Capital Management LLC owned approximately 2.34% of Quest Diagnostics worth $404,838,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in DGX. Barclays PLC boosted its stake in shares of Quest Diagnostics by 35.9% during the 3rd quarter. Barclays PLC now owns 298,922 shares of the medical research company's stock worth $46,407,000 after purchasing an additional 78,980 shares during the period. SGL Investment Advisors Inc. purchased a new position in shares of Quest Diagnostics during the third quarter valued at approximately $4,167,000. MML Investors Services LLC grew its stake in shares of Quest Diagnostics by 2.7% during the third quarter. MML Investors Services LLC now owns 3,983 shares of the medical research company's stock valued at $618,000 after buying an additional 106 shares during the last quarter. Orion Portfolio Solutions LLC raised its holdings in shares of Quest Diagnostics by 24.1% in the third quarter. Orion Portfolio Solutions LLC now owns 19,737 shares of the medical research company's stock worth $3,064,000 after buying an additional 3,837 shares during the period. Finally, National Bank of Canada FI lifted its stake in shares of Quest Diagnostics by 163.3% during the 3rd quarter. National Bank of Canada FI now owns 81,884 shares of the medical research company's stock worth $12,712,000 after acquiring an additional 50,780 shares during the last quarter. 88.06% of the stock is owned by institutional investors.

Quest Diagnostics Stock Down 0.7 %

Quest Diagnostics stock traded down $1.07 during mid-day trading on Friday, reaching $155.00. 849,835 shares of the company were exchanged, compared to its average volume of 914,431. Quest Diagnostics Incorporated has a 12-month low of $123.04 and a 12-month high of $165.32. The business has a fifty day moving average of $156.57 and a 200 day moving average of $150.29. The firm has a market cap of $17.30 billion, a P/E ratio of 20.83, a PEG ratio of 2.69 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.

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 for the quarter, beating analysts' consensus estimates of $2.26 by $0.04. Quest Diagnostics had a return on equity of 15.25% and a net margin of 8.82%. The company had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter last year, the company earned $2.22 earnings per share. The firm's revenue for the quarter was up 8.5% compared to the same quarter last year. Research analysts anticipate that Quest Diagnostics Incorporated will post 8.9 earnings per share for the current fiscal year.

Quest Diagnostics Dividend Announcement

The company 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. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Tuesday, January 14th. Quest Diagnostics's payout ratio is currently 40.32%.

Insider Buying and Selling

In related news, SVP Karthik Kuppusamy sold 1,775 shares of the company's stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $156.92, for a total transaction of $278,533.00. Following the transaction, the senior vice president now directly owns 9,734 shares of the company's stock, valued at $1,527,459.28. This represents a 15.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Michael J. Deppe sold 18,755 shares of the firm's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $154.05, for a total value of $2,889,207.75. Following the completion of the sale, the chief accounting officer now directly owns 34,941 shares of the company's stock, valued at approximately $5,382,661.05. This represents a 34.93 % decrease in their position. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on DGX. Robert W. Baird upgraded Quest Diagnostics from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $157.00 to $182.00 in a research note on Wednesday, October 23rd. Evercore ISI began coverage on shares of Quest Diagnostics in a research note on Wednesday, August 28th. They issued an "in-line" rating and a $165.00 price target on the stock. Piper Sandler boosted their price objective on shares of Quest Diagnostics from $150.00 to $165.00 and gave the company a "neutral" rating in a research report on Monday, October 28th. Baird R W raised shares of Quest Diagnostics from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 23rd. Finally, StockNews.com downgraded shares of Quest Diagnostics from a "buy" rating to a "hold" rating in a research note on Monday, November 18th. Nine investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Quest Diagnostics currently has an average rating of "Hold" and an average price target of $168.92.

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.