Skandinaviska Enskilda Banken AB publ Raises Stock Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

Skandinaviska Enskilda Banken AB publ lifted its position in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 12.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 26,044 shares of the medical research company's stock after purchasing an additional 2,900 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Quest Diagnostics were worth $3,932,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in DGX. Sierra Ocean LLC acquired a new position in Quest Diagnostics during the 4th quarter worth about $33,000. Versant Capital Management Inc lifted its position in Quest Diagnostics by 340.4% during the 4th quarter. Versant Capital Management Inc now owns 251 shares of the medical research company's stock worth $38,000 after buying an additional 194 shares in the last quarter. First Financial Corp IN acquired a new position in Quest Diagnostics during the 4th quarter worth about $38,000. FPC Investment Advisory Inc. acquired a new position in Quest Diagnostics during the 4th quarter worth about $45,000. Finally, Global Trust Asset Management LLC acquired a new position in Quest Diagnostics during the 4th quarter valued at about $49,000. Institutional investors own 88.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Morgan Stanley upgraded shares of Quest Diagnostics from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $145.00 to $172.00 in a research report on Tuesday, December 17th. Jefferies Financial Group reiterated a "buy" rating and issued a $185.00 price target (up from $175.00) on shares of Quest Diagnostics in a research report on Tuesday, December 10th. Barclays increased their price target on shares of Quest Diagnostics from $168.00 to $175.00 and gave the company an "equal weight" rating in a research report on Friday, January 31st. JPMorgan Chase & Co. increased their target price on Quest Diagnostics from $173.00 to $180.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 4th. Finally, Leerink Partnrs raised shares of Quest Diagnostics from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. Eight analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Quest Diagnostics has an average rating of "Moderate Buy" and an average price target of $178.38.

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Quest Diagnostics Price Performance

DGX traded down $1.76 during trading on Thursday, reaching $166.25. 994,285 shares of the company were exchanged, compared to its average volume of 872,928. The company's 50-day moving average is $164.63 and its two-hundred day moving average is $158.48. Quest Diagnostics Incorporated has a 12-month low of $125.42 and a 12-month high of $178.87. The company has a market cap of $18.45 billion, a price-to-earnings ratio of 21.62, a P/E/G ratio of 2.16 and a beta of 0.92. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.82.

Quest Diagnostics (NYSE:DGX - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The medical research company reported $2.23 EPS for the quarter, beating the consensus estimate of $2.19 by $0.04. Quest Diagnostics had a return on equity of 15.07% and a net margin of 8.80%. Research analysts forecast that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal year.

Quest Diagnostics Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be paid a dividend of $0.80 per share. This is a boost from Quest Diagnostics's previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.20 dividend on an annualized basis and a yield of 1.92%. Quest Diagnostics's payout ratio is presently 41.61%.

Insiders Place Their Bets

In other Quest Diagnostics news, EVP Catherine T. Doherty sold 5,370 shares of Quest Diagnostics stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $174.13, for a total value of $935,078.10. Following the completion of the sale, the executive vice president now owns 68,068 shares of the company's stock, valued at approximately $11,852,680.84. This trade represents a 7.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael E. Prevoznik sold 4,643 shares of Quest Diagnostics stock in a transaction on Monday, March 17th. The stock was sold at an average price of $170.00, for a total value of $789,310.00. Following the completion of the sale, the senior vice president now directly owns 38,117 shares of the company's stock, valued at $6,479,890. The trade was a 10.86 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,157 shares of company stock valued at $2,423,755. Corporate insiders own 0.79% of the company's stock.

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.