Citigroup Inc. Purchases 14,695 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

Citigroup Inc. increased its position in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 13.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 126,179 shares of the medical research company’s stock after buying an additional 14,695 shares during the period. Citigroup Inc.’s holdings in Quest Diagnostics were worth $19,589,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of DGX. Rothschild Investment LLC acquired a new position in Quest Diagnostics during the 2nd quarter worth $26,000. Innealta Capital LLC acquired a new position in shares of Quest Diagnostics during the 2nd quarter worth about $31,000. Larson Financial Group LLC boosted its stake in Quest Diagnostics by 77.5% during the 2nd quarter. Larson Financial Group LLC now owns 229 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 100 shares during the period. TruNorth Capital Management LLC acquired a new stake in Quest Diagnostics in the 2nd quarter valued at approximately $33,000. Finally, EdgeRock Capital LLC bought a new position in Quest Diagnostics in the 2nd quarter worth approximately $35,000. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Quest Diagnostics Stock Down 0.1 %

Shares of NYSE DGX opened at $162.28 on Wednesday. The business has a fifty day moving average of $155.10 and a two-hundred day moving average of $148.79. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.17 and a current ratio of 1.25. Quest Diagnostics Incorporated has a 52-week low of $123.04 and a 52-week high of $165.32. The stock has a market cap of $18.11 billion, a PE ratio of 21.81, a PEG ratio of 2.83 and a beta of 0.89.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings results on Tuesday, October 22nd. The medical research company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.04. The firm had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.43 billion. Quest Diagnostics had a net margin of 8.82% and a return on equity of 15.25%. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period last year, the firm posted $2.22 EPS. As a group, equities research analysts expect that Quest Diagnostics Incorporated will post 8.9 earnings per share for the current fiscal year.

Quest Diagnostics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Tuesday, January 14th will be issued a dividend of $0.75 per share. The ex-dividend date is Tuesday, January 14th. This represents a $3.00 dividend on an annualized basis and a yield of 1.85%. Quest Diagnostics’s dividend payout ratio is 40.32%.

Insider Buying and Selling at Quest Diagnostics

In related news, SVP Karthik Kuppusamy sold 1,775 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $156.92, for a total value of $278,533.00. Following the completion of the sale, the senior vice president now owns 9,734 shares of the company’s stock, valued at $1,527,459.28. This trade represents a 15.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Michael J. Deppe sold 18,755 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $154.05, for a total value of $2,889,207.75. Following the transaction, the chief accounting officer now directly owns 34,941 shares in the company, valued at approximately $5,382,661.05. This represents a 34.93 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.79% of the company’s stock.

Analysts Set New Price Targets

DGX has been the subject of several research analyst reports. Piper Sandler upped their target price on shares of Quest Diagnostics from $150.00 to $165.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. Evercore ISI initiated coverage on shares of Quest Diagnostics in a research note on Wednesday, August 28th. They issued an “in-line” rating and a $165.00 target price for the company. Truist Financial boosted their price target on Quest Diagnostics from $158.00 to $165.00 and gave the company a “hold” rating in a research note on Monday, October 7th. Baird R W upgraded Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 23rd. Finally, Barclays boosted their price objective on Quest Diagnostics from $154.00 to $168.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 23rd. Nine investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $164.58.

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.