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

abrdn plc raised its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX) 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:DGX) 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.

Quest Diagnostics Company 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.