Truist Financial Corp Purchases 2,640 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

Truist Financial Corp boosted its position in Quest Diagnostics Incorporated (NYSE:DGX) by 19.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,259 shares of the medical research company’s stock after buying an additional 2,640 shares during the period. Truist Financial Corp’s holdings in Quest Diagnostics were worth $2,242,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of DGX. Stratos Wealth Partners LTD. bought a new position in shares of Quest Diagnostics during the 3rd quarter worth approximately $205,000. Mackenzie Financial Corp increased its stake in Quest Diagnostics by 112.9% in the third quarter. Mackenzie Financial Corp now owns 36,093 shares of the medical research company’s stock valued at $4,368,000 after purchasing an additional 19,142 shares in the last quarter. IFM Investors Pty Ltd raised its holdings in shares of Quest Diagnostics by 8.8% during the third quarter. IFM Investors Pty Ltd now owns 25,110 shares of the medical research company’s stock valued at $3,060,000 after purchasing an additional 2,025 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Quest Diagnostics by 2.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,910 shares of the medical research company’s stock worth $5,595,000 after purchasing an additional 1,281 shares in the last quarter. Finally, Park Avenue Securities LLC acquired a new stake in shares of Quest Diagnostics in the 3rd quarter valued at about $506,000. Institutional investors own 88.06% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Karthik Kuppusamy sold 1,760 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $140.00, for a total value of $246,400.00. Following the transaction, the senior vice president now owns 13,435 shares of the company’s stock, valued at $1,880,900. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 661 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $126.14, for a total value of $83,378.54. Following the completion of the transaction, the senior vice president now owns 40,206 shares of the company’s stock, valued at approximately $5,071,584.84. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Karthik Kuppusamy sold 1,760 shares of the firm’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $140.00, for a total transaction of $246,400.00. Following the sale, the senior vice president now owns 13,435 shares in the company, valued at approximately $1,880,900. The disclosure for this sale can be found here. Insiders have sold 16,910 shares of company stock worth $2,159,602 in the last three months. 0.79% of the stock is currently owned by corporate insiders.

Quest Diagnostics Price Performance

Quest Diagnostics stock opened at $136.15 on Thursday. The firm has a market capitalization of $15.12 billion, a P/E ratio of 18.32, a PEG ratio of 2.98 and a beta of 0.88. Quest Diagnostics Incorporated has a one year low of $119.59 and a one year high of $145.58. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.97 and a quick ratio of 0.89. The business has a fifty day moving average price of $130.94 and a 200-day moving average price of $132.04.

Quest Diagnostics (NYSE:DGX) last posted its earnings results on Tuesday, April 23rd. The medical research company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.86 by $0.18. Quest Diagnostics had a return on equity of 15.52% and a net margin of 9.11%. The business had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.29 billion. During the same quarter in the previous year, the firm earned $2.04 EPS. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. As a group, equities research analysts forecast that Quest Diagnostics Incorporated will post 8.78 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on DGX shares. Barclays increased their price target on Quest Diagnostics from $138.00 to $144.00 and gave the stock an “equal weight” rating in a report on Thursday, April 25th. Truist Financial boosted their price objective on Quest Diagnostics from $145.00 to $150.00 and gave the stock a “hold” rating in a report on Wednesday, April 24th. SVB Leerink assumed coverage on shares of Quest Diagnostics in a report on Monday, February 26th. They set a “market perform” rating and a $135.00 price objective on the stock. Leerink Partnrs reiterated a “market perform” rating on shares of Quest Diagnostics in a report on Monday, February 26th. Finally, Mizuho boosted their price target on shares of Quest Diagnostics from $150.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Ten investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $146.17.

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.