Quest Diagnostics Incorporated (NYSE:DGX) Shares Purchased by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Quest Diagnostics Incorporated (NYSE:DGX) by 58.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,205 shares of the medical research company’s stock after purchasing an additional 7,781 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Quest Diagnostics were worth $2,903,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in DGX. Point72 DIFC Ltd acquired a new position in shares of Quest Diagnostics during the second quarter worth $2,131,000. Integral Health Asset Management LLC purchased a new position in shares of Quest Diagnostics during the second quarter worth about $13,688,000. Public Sector Pension Investment Board lifted its holdings in shares of Quest Diagnostics by 68.8% during the second quarter. Public Sector Pension Investment Board now owns 4,315 shares of the medical research company’s stock worth $591,000 after purchasing an additional 1,759 shares during the period. ProShare Advisors LLC boosted its holdings in Quest Diagnostics by 115.9% in the 2nd quarter. ProShare Advisors LLC now owns 32,674 shares of the medical research company’s stock valued at $4,472,000 after purchasing an additional 17,541 shares in the last quarter. Finally, Hancock Whitney Corp lifted its holdings in Quest Diagnostics by 18.2% in the second quarter. Hancock Whitney Corp now owns 8,665 shares of the medical research company’s stock valued at $1,186,000 after acquiring an additional 1,337 shares during the period. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Stock Performance

NYSE:DGX opened at $154.80 on Friday. Quest Diagnostics Incorporated has a twelve month low of $119.59 and a twelve month high of $159.36. The firm has a market capitalization of $17.20 billion, a price-to-earnings ratio of 20.83, a PEG ratio of 2.80 and a beta of 0.89. The company has a current ratio of 1.00, a quick ratio of 0.91 and a debt-to-equity ratio of 0.57. The firm’s fifty day simple moving average is $151.29 and its 200 day simple moving average is $141.80.

Quest Diagnostics (NYSE:DGX) last posted its earnings results on Tuesday, July 23rd. The medical research company reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.04. The business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.39 billion. Quest Diagnostics had a return on equity of 15.35% and a net margin of 8.99%. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.30 earnings per share. As a group, equities research analysts expect that Quest Diagnostics Incorporated will post 8.89 earnings per share for the current fiscal year.

Quest Diagnostics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Friday, October 4th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Friday, October 4th. Quest Diagnostics’s payout ratio is 40.38%.

Wall Street Analyst Weigh In

DGX has been the subject of several recent analyst reports. StockNews.com upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Barclays boosted their price target on Quest Diagnostics from $144.00 to $154.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 27th. Truist Financial increased their target price on Quest Diagnostics from $150.00 to $158.00 and gave the stock a “hold” rating in a research report on Monday, July 15th. Robert W. Baird lifted their price target on Quest Diagnostics from $153.00 to $154.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Finally, Piper Sandler increased their price objective on shares of Quest Diagnostics from $145.00 to $150.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Quest Diagnostics has an average rating of “Hold” and a consensus target price of $154.33.

Insider Buying and Selling

In other Quest Diagnostics news, SVP Mark E. Delaney sold 420 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $143.08, for a total value of $60,093.60. Following the completion of the transaction, the senior vice president now directly owns 5,019 shares of the company’s stock, valued at approximately $718,118.52. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Quest Diagnostics news, SVP Karthik Kuppusamy sold 1,990 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $153.26, for a total transaction 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Mark E. Delaney sold 420 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $143.08, for a total transaction of $60,093.60. Following the transaction, the senior vice president now owns 5,019 shares of the company’s stock, valued at approximately $718,118.52. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by insiders.

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.