BNP PARIBAS ASSET MANAGEMENT Holding S.A. Decreases Position in Quest Diagnostics Incorporated (NYSE:DGX)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. decreased its position in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 2.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 77,435 shares of the medical research company’s stock after selling 1,575 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Quest Diagnostics were worth $12,022,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hilton Capital Management LLC purchased a new stake in Quest Diagnostics during the 3rd quarter valued at $8,842,000. PNC Financial Services Group Inc. boosted its position in shares of Quest Diagnostics by 4.3% during the third quarter. PNC Financial Services Group Inc. now owns 36,441 shares of the medical research company’s stock valued at $5,657,000 after buying an additional 1,509 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Quest Diagnostics in the 3rd quarter worth about $1,079,000. Pathstone Holdings LLC raised its position in Quest Diagnostics by 4.5% in the 3rd quarter. Pathstone Holdings LLC now owns 42,641 shares of the medical research company’s stock worth $6,620,000 after buying an additional 1,820 shares during the last quarter. Finally, IVY Lane Capital Management LLC boosted its holdings in shares of Quest Diagnostics by 21.3% during the 3rd quarter. IVY Lane Capital Management LLC now owns 57,000 shares of the medical research company’s stock valued at $8,849,000 after acquiring an additional 10,000 shares during the last quarter. Institutional investors own 88.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. StockNews.com cut shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Monday, November 18th. Evercore ISI began coverage on shares of Quest Diagnostics in a research note on Wednesday, August 28th. They set an “in-line” rating and a $165.00 target price for the company. UBS Group raised their price target on Quest Diagnostics from $165.00 to $166.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Citigroup upped their price objective on Quest Diagnostics from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Piper Sandler increased their target price on Quest Diagnostics from $150.00 to $165.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Nine investment 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 company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $164.58.

Insiders Place Their Bets

In other Quest Diagnostics news, CAO Michael J. Deppe sold 18,755 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief accounting officer now directly owns 34,941 shares in the company, valued at $5,382,661.05. This represents a 34.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Karthik Kuppusamy sold 1,775 shares of Quest Diagnostics stock in a transaction that occurred 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 sale, the senior vice president now owns 9,734 shares in the company, valued at approximately $1,527,459.28. The trade was a 15.42 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,520 shares of company stock worth $3,472,728. Corporate insiders own 0.79% of the company’s stock.

Quest Diagnostics Stock Down 0.2 %

DGX stock opened at $163.59 on Friday. The business’s 50-day moving average price is $154.84 and its 200-day moving average price is $148.29. The stock has a market cap of $18.26 billion, a P/E ratio of 21.99, a PEG ratio of 2.83 and a beta of 0.89. The company has a quick ratio of 1.17, a current ratio of 1.25 and a debt-to-equity ratio of 0.83. Quest Diagnostics Incorporated has a twelve month low of $123.04 and a twelve month high of $165.10.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Tuesday, October 22nd. The medical research company reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.04. The business had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.43 billion. Quest Diagnostics had a net margin of 8.82% and a return on equity of 15.25%. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.22 earnings per share. On average, equities research analysts forecast that Quest Diagnostics Incorporated will post 8.9 EPS for the current year.

Quest Diagnostics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Tuesday, January 14th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.83%. The ex-dividend date is Tuesday, January 14th. Quest Diagnostics’s dividend payout ratio is currently 40.32%.

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.