Czech National Bank Boosts Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

Czech National Bank grew its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 8.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,169 shares of the medical research company’s stock after purchasing an additional 1,640 shares during the period. Czech National Bank’s holdings in Quest Diagnostics were worth $2,898,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in DGX. Norges Bank purchased a new position in Quest Diagnostics in the 4th quarter worth $140,472,000. Nuance Investments LLC acquired a new position in Quest Diagnostics in the 4th quarter worth approximately $83,070,000. M&G Plc purchased a new position in Quest Diagnostics during the 1st quarter worth approximately $46,432,000. Vanguard Group Inc. lifted its stake in Quest Diagnostics by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 13,921,955 shares of the medical research company’s stock valued at $1,853,151,000 after acquiring an additional 345,754 shares during the period. Finally, Pathstone Holdings LLC purchased a new stake in shares of Quest Diagnostics in the 4th quarter valued at $46,342,000. 88.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. StockNews.com upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Barclays lifted their target price on shares of Quest Diagnostics from $138.00 to $144.00 and gave the company an “equal weight” rating in a report on Thursday, April 25th. UBS Group raised their target price on Quest Diagnostics from $139.00 to $146.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Robert W. Baird upped their price target on Quest Diagnostics from $153.00 to $154.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Finally, Piper Sandler raised their price objective on Quest Diagnostics from $145.00 to $150.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Quest Diagnostics presently has a consensus rating of “Hold” and an average target price of $150.58.

Insider Activity at Quest Diagnostics

In other Quest Diagnostics news, SVP Mark E. Delaney sold 420 shares of Quest Diagnostics 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 completion of the sale, the senior vice president now directly owns 5,019 shares of the company’s stock, valued at approximately $718,118.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.79% of the stock is currently owned by company insiders.

Quest Diagnostics Trading Up 0.4 %

Shares of DGX stock traded up $0.65 on Monday, hitting $149.96. The stock had a trading volume of 124,287 shares, compared to its average volume of 991,351. The company’s 50 day moving average price is $142.17 and its 200-day moving average price is $135.36. Quest Diagnostics Incorporated has a 1 year low of $119.59 and a 1 year high of $151.78. The firm has a market capitalization of $16.66 billion, a P/E ratio of 20.18, a P/E/G ratio of 2.69 and a beta of 0.89. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.00 and a quick ratio of 0.91.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Tuesday, July 23rd. The medical research company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.04. Quest Diagnostics had a net margin of 8.99% and a return on equity of 15.35%. The business had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.39 billion. During the same quarter in the prior year, the company earned $2.30 earnings per share. The business’s quarterly revenue was up 2.5% on a year-over-year basis. Analysts anticipate that Quest Diagnostics Incorporated will post 8.89 earnings per share for the current year.

Quest Diagnostics Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 22nd. Stockholders of record on Monday, July 8th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend was Monday, July 8th. Quest Diagnostics’s payout ratio is currently 40.38%.

About Quest Diagnostics

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.