APG Asset Management N.V. Increases Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

APG Asset Management N.V. increased its position in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 0.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 561,529 shares of the medical research company’s stock after purchasing an additional 3,800 shares during the quarter. APG Asset Management N.V. owned 0.46% of Quest Diagnostics worth $62,488,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in the company. ARGI Investment Services LLC boosted its position in shares of Quest Diagnostics by 1.2% in the second quarter. ARGI Investment Services LLC now owns 6,011 shares of the medical research company’s stock worth $793,000 after acquiring an additional 70 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in Quest Diagnostics by 2.4% during the second quarter. Oppenheimer Asset Management Inc. now owns 3,917 shares of the medical research company’s stock worth $516,000 after buying an additional 91 shares during the period. Regentatlantic Capital LLC increased its position in shares of Quest Diagnostics by 1.3% in the second quarter. Regentatlantic Capital LLC now owns 7,478 shares of the medical research company’s stock worth $987,000 after acquiring an additional 99 shares in the last quarter. Jackson Creek Investment Advisors LLC raised its stake in shares of Quest Diagnostics by 1.2% in the 1st quarter. Jackson Creek Investment Advisors LLC now owns 8,349 shares of the medical research company’s stock valued at $1,072,000 after acquiring an additional 103 shares during the period. Finally, Ascent Wealth Partners LLC lifted its holdings in shares of Quest Diagnostics by 2.6% during the 2nd quarter. Ascent Wealth Partners LLC now owns 4,031 shares of the medical research company’s stock valued at $532,000 after acquiring an additional 103 shares in the last quarter. Institutional investors and hedge funds own 91.96% of the company’s stock.

In related news, CEO Stephen H. Rusckowski sold 9,493 shares of the business’s stock in a transaction that occurred on Thursday, July 29th. The stock was sold at an average price of $140.87, for a total value of $1,337,278.91. Following the completion of the sale, the chief executive officer now directly owns 424,178 shares in the company, valued at approximately $59,753,954.86. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Stephen H. Rusckowski sold 32,788 shares of the business’s stock in a transaction that occurred on Tuesday, July 27th. The stock was sold at an average price of $140.01, for a total value of $4,590,647.88. Following the completion of the sale, the chief executive officer now owns 290,240 shares of the company’s stock, valued at $40,636,502.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,503 shares of company stock valued at $7,630,451. Insiders own 1.45% of the company’s stock.

A number of equities research analysts have recently issued reports on the company. Credit Suisse Group increased their target price on Quest Diagnostics from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, August 13th. Mizuho upped their target price on shares of Quest Diagnostics from $158.00 to $166.00 and gave the company a “buy” rating in a research note on Thursday, August 19th. Jefferies Financial Group initiated coverage on shares of Quest Diagnostics in a research note on Friday, July 23rd. They set a “buy” rating and a $160.00 price target on the stock. Zacks Investment Research raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating and set a $158.00 price objective for the company in a research report on Tuesday, September 28th. Finally, Citigroup lifted their target price on Quest Diagnostics from $158.00 to $181.00 and gave the stock a “buy” rating in a research report on Friday, September 10th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $157.80.

Shares of DGX stock opened at $140.95 on Thursday. Quest Diagnostics Incorporated has a 1 year low of $113.36 and a 1 year high of $160.56. The stock has a market cap of $17.22 billion, a PE ratio of 8.40, a price-to-earnings-growth ratio of 0.48 and a beta of 1.04. The business’s fifty day moving average is $149.92 and its 200-day moving average is $138.62. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.38.

Quest Diagnostics (NYSE:DGX) last issued its earnings results on Thursday, July 22nd. The medical research company reported $3.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.87 by $0.31. Quest Diagnostics had a return on equity of 32.62% and a net margin of 20.32%. The business had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.38 billion. During the same period in the previous year, the firm posted $1.42 EPS. The company’s quarterly revenue was up 39.6% on a year-over-year basis. Equities research analysts predict that Quest Diagnostics Incorporated will post 12.05 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 20th. Stockholders of record on Tuesday, October 5th will be issued a dividend of $0.62 per share. The ex-dividend date is Monday, October 4th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.76%. Quest Diagnostics’s dividend payout ratio is 22.18%.

Quest Diagnostics Profile

Quest Diagnostics, Inc engages in the provision of diagnostic testing, information and services. It operates through the Diagnostic Information Services (DIS) and All Other segments. The DIS segment offers diagnostic information services to patients, clinicians, hospitals, health plans, and employers.

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Institutional Ownership by Quarter for Quest Diagnostics (NYSE:DGX)

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