USS Investment Management Ltd Decreases Stock Position in Quest Diagnostics Incorporated (NYSE:DGX)

USS Investment Management Ltd lessened its holdings in Quest Diagnostics Incorporated (NYSE:DGX) by 27.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,062 shares of the medical research company’s stock after selling 5,986 shares during the quarter. USS Investment Management Ltd’s holdings in Quest Diagnostics were worth $2,424,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. BankPlus Wealth Management LLC acquired a new stake in Quest Diagnostics in the 4th quarter worth approximately $355,000. Van ECK Associates Corp lifted its stake in shares of Quest Diagnostics by 980.3% during the fourth quarter. Van ECK Associates Corp now owns 24,198 shares of the medical research company’s stock worth $3,650,000 after buying an additional 21,958 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Quest Diagnostics during the fourth quarter worth $54,000. SVB Wealth LLC purchased a new stake in shares of Quest Diagnostics during the fourth quarter valued at $10,345,000. Finally, AEGON ASSET MANAGEMENT UK Plc increased its position in shares of Quest Diagnostics by 12.0% in the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 144,773 shares of the medical research company’s stock valued at $21,852,000 after acquiring an additional 15,475 shares during the period. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Insider Buying and Selling

In related news, SVP Michael E. Prevoznik sold 528 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $172.61, for a total transaction of $91,138.08. Following the completion of the sale, the senior vice president now directly owns 39,031 shares in the company, valued at approximately $6,737,140.91. The trade was a 1.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mark E. Delaney sold 874 shares of the firm’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $175.72, for a total value of $153,579.28. Following the completion of the transaction, the senior vice president now owns 8,372 shares in the company, valued at $1,471,127.84. The trade was a 9.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 53,985 shares of company stock worth $9,147,802 in the last 90 days. Insiders own 8.16% of the company’s stock.

Analysts Set New Price Targets

DGX has been the subject of a number of research reports. Barclays lifted their price target on Quest Diagnostics from $175.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. upped their target price on Quest Diagnostics from $180.00 to $190.00 and gave the company a “neutral” rating in a research report on Tuesday, May 6th. UBS Group increased their price target on shares of Quest Diagnostics from $166.00 to $170.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Robert W. Baird lifted their price objective on shares of Quest Diagnostics from $191.00 to $194.00 and gave the company an “outperform” rating in a research note on Wednesday, April 23rd. Finally, Citigroup lowered shares of Quest Diagnostics from a “buy” rating to a “neutral” rating and set a $185.00 price objective on the stock. in a research note on Tuesday, March 4th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Quest Diagnostics has an average rating of “Moderate Buy” and a consensus price target of $185.73.

Quest Diagnostics Stock Performance

Shares of DGX stock opened at $171.34 on Friday. The company has a market capitalization of $19.13 billion, a P/E ratio of 22.28, a P/E/G ratio of 2.16 and a beta of 0.52. The business’s 50 day moving average is $170.37 and its two-hundred day moving average is $164.19. The company has a current ratio of 1.10, a quick ratio of 1.02 and a debt-to-equity ratio of 0.82. Quest Diagnostics Incorporated has a 12-month low of $135.47 and a 12-month high of $179.99.

Quest Diagnostics (NYSE:DGX) last announced its earnings results on Tuesday, April 22nd. The medical research company reported $2.21 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.06. Quest Diagnostics had a return on equity of 15.07% and a net margin of 8.80%. The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.63 billion. Analysts expect that Quest Diagnostics Incorporated will post 9.7 EPS for the current fiscal year.

Quest Diagnostics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, July 7th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, July 7th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.87%. Quest Diagnostics’s dividend payout ratio is currently 40.46%.

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.