abrdn plc Buys 13,938 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

abrdn plc raised its stake in shares of Quest Diagnostics Incorporated (NYSE:DGXFree Report) by 3.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 461,887 shares of the medical research company’s stock after purchasing an additional 13,938 shares during the period. abrdn plc’s holdings in Quest Diagnostics were worth $71,500,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in DGX. Rothschild Investment LLC bought a new position in Quest Diagnostics during the second quarter valued at approximately $26,000. Innealta Capital LLC bought a new position in shares of Quest Diagnostics during the 2nd quarter valued at approximately $31,000. Larson Financial Group LLC boosted its position in shares of Quest Diagnostics by 77.5% during the 2nd quarter. Larson Financial Group LLC now owns 229 shares of the medical research company’s stock valued at $31,000 after acquiring an additional 100 shares during the last quarter. TruNorth Capital Management LLC purchased a new position in shares of Quest Diagnostics in the second quarter valued at $33,000. Finally, EdgeRock Capital LLC bought a new stake in Quest Diagnostics in the second quarter worth $35,000. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Karthik Kuppusamy sold 1,990 shares of Quest Diagnostics stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $153.26, for a total value of $304,987.40. Following the transaction, the senior vice president now directly owns 11,459 shares in the company, valued at approximately $1,756,206.34. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.79% of the stock is owned by company insiders.

Quest Diagnostics Stock Performance

DGX stock opened at $155.96 on Wednesday. The firm has a market cap of $17.33 billion, a price-to-earnings ratio of 20.99, a PEG ratio of 2.45 and a beta of 0.89. Quest Diagnostics Incorporated has a twelve month low of $123.04 and a twelve month high of $160.95. The company has a quick ratio of 0.91, a current ratio of 1.00 and a debt-to-equity ratio of 0.57. The business’s fifty day simple moving average is $153.22 and its two-hundred day simple moving average is $145.11.

Quest Diagnostics (NYSE:DGXGet Free Report) last announced 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. The company had revenue of $2.49 billion during 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%. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the business posted $2.22 EPS. Analysts predict that Quest Diagnostics Incorporated will post 8.89 earnings per share for the current year.

Quest Diagnostics Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have commented on DGX. StockNews.com cut shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Piper Sandler lifted their price target on Quest Diagnostics from $150.00 to $165.00 and gave the stock a “neutral” rating in a research report on Monday. Evercore ISI assumed coverage on Quest Diagnostics in a research report on Wednesday, August 28th. They set an “in-line” rating and a $165.00 price objective on the stock. Citigroup lifted their target price on Quest Diagnostics from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Barclays increased their price target on Quest Diagnostics from $154.00 to $168.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. Nine analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $164.58.

Read Our Latest Research Report on Quest Diagnostics

Quest Diagnostics Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Quest Diagnostics (NYSE:DGX)

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