OLD National Bancorp IN trimmed its position in Quest Diagnostics Incorporated (NYSE:DGX – Free Report) by 6.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,421 shares of the medical research company’s stock after selling 93 shares during the quarter. OLD National Bancorp IN’s holdings in Quest Diagnostics were worth $201,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DGX. Norges Bank purchased a new stake in Quest Diagnostics in the 4th quarter worth approximately $157,412,000. Price T Rowe Associates Inc. MD increased its holdings in Quest Diagnostics by 548.7% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,125,530 shares of the medical research company’s stock worth $149,673,000 after acquiring an additional 952,037 shares in the last quarter. Vanguard Group Inc. increased its holdings in Quest Diagnostics by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 14,014,030 shares of the medical research company’s stock worth $1,917,961,000 after acquiring an additional 636,301 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Quest Diagnostics in the 4th quarter worth approximately $83,101,000. Finally, AEGON ASSET MANAGEMENT UK Plc purchased a new stake in Quest Diagnostics in the 4th quarter worth approximately $42,358,000. 87.39% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on DGX. Mizuho reaffirmed a “buy” rating and set a $165.00 price objective on shares of Quest Diagnostics in a report on Friday, March 17th. Piper Sandler began coverage on shares of Quest Diagnostics in a report on Thursday, June 29th. They set a “neutral” rating for the company. Bank of America lowered shares of Quest Diagnostics from a “buy” rating to a “neutral” rating and cut their price objective for the company from $166.00 to $148.00 in a report on Tuesday, May 2nd. Truist Financial cut their target price on shares of Quest Diagnostics from $170.00 to $160.00 and set a “hold” rating for the company in a report on Friday, March 17th. Finally, StockNews.com started coverage on shares of Quest Diagnostics in a report on Thursday, May 18th. They issued a “hold” rating for the company. Ten research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Quest Diagnostics currently has a consensus rating of “Hold” and a consensus target price of $151.20.
Quest Diagnostics Stock Down 0.6 %
Quest Diagnostics (NYSE:DGX – Free Report) last released its earnings results on Thursday, April 27th. The medical research company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.07. Quest Diagnostics had a return on equity of 16.51% and a net margin of 8.26%. The business had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same period last year, the company earned $3.22 earnings per share. The business’s revenue for the quarter was down 10.7% compared to the same quarter last year. On average, sell-side analysts expect that Quest Diagnostics Incorporated will post 8.69 EPS for the current year.
Quest Diagnostics Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 25th. Stockholders of record on Tuesday, July 11th will be given a dividend of $0.71 per share. The ex-dividend date is Monday, July 10th. This represents a $2.84 annualized dividend and a dividend yield of 2.05%. Quest Diagnostics’s dividend payout ratio (DPR) is 41.89%.
Quest Diagnostics Company Profile
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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