APG Asset Management US Inc. Makes New Investment in Quest Diagnostics Incorporated (NYSE:DGX)

APG Asset Management US Inc. purchased a new position in Quest Diagnostics Incorporated (NYSE:DGX) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 2,300 shares of the medical research company’s stock, valued at approximately $347,000.

Other large investors have also added to or reduced their stakes in the company. Sanctuary Advisors LLC boosted its stake in shares of Quest Diagnostics by 85.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 17,969 shares of the medical research company’s stock valued at $2,940,000 after purchasing an additional 8,282 shares in the last quarter. BankPlus Wealth Management LLC bought a new stake in shares of Quest Diagnostics during the 4th quarter valued at about $355,000. Van ECK Associates Corp boosted its stake in shares of Quest Diagnostics by 980.3% during the 4th quarter. Van ECK Associates Corp now owns 24,198 shares of the medical research company’s stock valued at $3,650,000 after purchasing an additional 21,958 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Quest Diagnostics during the 4th quarter valued at about $54,000. Finally, Clean Yield Group boosted its stake in shares of Quest Diagnostics by 17.7% during the 4th quarter. Clean Yield Group now owns 26,428 shares of the medical research company’s stock valued at $3,987,000 after purchasing an additional 3,983 shares in the last quarter. Institutional investors own 88.06% of the company’s stock.

Quest Diagnostics Stock Performance

Shares of DGX stock opened at $163.99 on Thursday. The company has a 50 day moving average price of $168.48 and a 200-day moving average price of $159.77. Quest Diagnostics Incorporated has a 52 week low of $125.42 and a 52 week high of $178.87. The firm has a market capitalization of $18.20 billion, a PE ratio of 21.32, a P/E/G ratio of 2.16 and a beta of 0.78. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.82.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings results on Thursday, January 30th. The medical research company reported $2.23 EPS for the quarter, topping analysts’ consensus estimates of $2.19 by $0.04. Quest Diagnostics had a net margin of 8.80% and a return on equity of 15.07%. As a group, equities research analysts expect that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current year.

Quest Diagnostics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be paid a $0.80 dividend. The ex-dividend date is Monday, April 7th. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.95%. Quest Diagnostics’s payout ratio is currently 41.61%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on DGX shares. Barclays lifted their target price on shares of Quest Diagnostics from $168.00 to $175.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Redburn Atlantic began coverage on shares of Quest Diagnostics in a research report on Wednesday, April 2nd. They set a “buy” rating and a $195.00 price target for the company. Bank of America lifted their price target on shares of Quest Diagnostics from $179.00 to $182.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Truist Financial lifted their price target on shares of Quest Diagnostics from $172.00 to $182.00 and gave the company a “hold” rating in a research report on Friday, January 31st. Finally, Robert W. Baird lifted their price target on shares of Quest Diagnostics from $190.00 to $191.00 and gave the company an “outperform” rating in a research report on Thursday, March 20th. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $181.33.

Insider Activity at Quest Diagnostics

In related news, Director Vicky B. Gregg sold 1,250 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $164.57, for a total transaction of $205,712.50. Following the completion of the sale, the director now directly owns 16,867 shares in the company, valued at approximately $2,775,802.19. The trade was a 6.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Mark E. Delaney sold 403 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $164.30, for a total transaction of $66,212.90. Following the sale, the senior vice president now owns 4,624 shares of the company’s stock, valued at $759,723.20. This trade represents a 8.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,903 shares of company stock worth $9,460,221. 0.79% of the stock is owned by company insiders.

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.