Quest Diagnostics Incorporated (NYSE:DGX) Shares Purchased by Vident Investment Advisory LLC

Vident Investment Advisory LLC boosted its stake in Quest Diagnostics Incorporated (NYSE:DGXGet Rating) by 12.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,269 shares of the medical research company’s stock after purchasing an additional 3,225 shares during the period. Vident Investment Advisory LLC’s holdings in Quest Diagnostics were worth $4,007,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Mystic Asset Management Inc. acquired a new stake in Quest Diagnostics in the 4th quarter valued at $25,000. Wagner Wealth Management LLC purchased a new position in Quest Diagnostics in the 4th quarter valued at about $35,000. Sandy Cove Advisors LLC purchased a new position in Quest Diagnostics in the 1st quarter valued at about $28,000. NuWave Investment Management LLC purchased a new position in Quest Diagnostics in the 1st quarter valued at about $40,000. Finally, Comprehensive Financial Consultants Institutional Inc. purchased a new position in Quest Diagnostics in the 4th quarter valued at about $38,000. 88.87% of the stock is currently owned by institutional investors and hedge funds.

Quest Diagnostics Stock Performance

Shares of DGX stock opened at $130.00 on Monday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.42 and a current ratio of 1.54. Quest Diagnostics Incorporated has a one year low of $124.28 and a one year high of $174.16. The company’s 50-day simple moving average is $133.76 and its 200-day simple moving average is $135.94. The stock has a market capitalization of $15.16 billion, a price-to-earnings ratio of 10.82 and a beta of 1.01.

Quest Diagnostics (NYSE:DGXGet Rating) last issued its quarterly earnings results on Thursday, July 21st. The medical research company reported $2.36 EPS for the quarter, topping the consensus estimate of $2.26 by $0.10. Quest Diagnostics had a net margin of 14.02% and a return on equity of 24.62%. The business had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.34 billion. During the same quarter last year, the company posted $3.18 earnings per share. The company’s quarterly revenue was down 3.8% compared to the same quarter last year. Equities analysts anticipate that Quest Diagnostics Incorporated will post 9.69 earnings per share for the current fiscal year.

Quest Diagnostics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 19th. Shareholders of record on Tuesday, October 4th will be issued a $0.66 dividend. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $2.64 dividend on an annualized basis and a yield of 2.03%. Quest Diagnostics’s dividend payout ratio is currently 21.96%.

Insiders Place Their Bets

In other Quest Diagnostics news, Director Timothy M. Ring sold 2,000 shares of the firm’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $133.47, for a total value of $266,940.00. Following the transaction, the director now owns 23,933 shares of the company’s stock, valued at $3,194,337.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

DGX has been the subject of a number of analyst reports. Morgan Stanley reissued an “equal weight” rating and issued a $142.00 price objective on shares of Quest Diagnostics in a research report on Monday, August 22nd. StockNews.com raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a research report on Thursday, July 7th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $148.50.

Quest Diagnostics Profile

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Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic information services, such as routine testing, 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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