Generali Asset Management SPA SGR Purchases New Stake in Quest Diagnostics Incorporated (NYSE:DGX)

Generali Asset Management SPA SGR acquired a new position in shares of Quest Diagnostics Incorporated (NYSE:DGX) in the 4th quarter, Holdings Channel.com reports. The firm acquired 29,631 shares of the medical research company’s stock, valued at approximately $4,470,000.

A number of other large investors also recently added to or reduced their stakes in DGX. Landscape Capital Management L.L.C. acquired a new stake in shares of Quest Diagnostics during the 3rd quarter worth approximately $1,363,000. Sanctuary Advisors LLC grew its position 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 worth $2,940,000 after buying an additional 8,282 shares during the period. Natixis Advisors LLC grew its position in shares of Quest Diagnostics by 7.7% during the 3rd quarter. Natixis Advisors LLC now owns 92,830 shares of the medical research company’s stock worth $14,412,000 after buying an additional 6,619 shares during the period. BankPlus Wealth Management LLC acquired a new stake in shares of Quest Diagnostics during the 4th quarter worth approximately $355,000. Finally, Van ECK Associates Corp grew its position 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 worth $3,650,000 after buying an additional 21,958 shares during the period. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 604 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $170.99, for a total value of $103,277.96. Following the transaction, the senior vice president now directly owns 39,845 shares in the company, valued at $6,813,096.55. The trade was a 1.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Mark E. Delaney sold 403 shares of the company’s stock in a transaction 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 completion of the transaction, the senior vice president now owns 4,624 shares in the company, valued at approximately $759,723.20. This represents a 8.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,514 shares of company stock worth $1,634,445. Insiders own 0.79% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on DGX shares. Citigroup cut shares of Quest Diagnostics from a “buy” rating to a “neutral” rating and set a $185.00 price target for the company. in a research report on Tuesday, March 4th. Leerink Partnrs raised shares of Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. JPMorgan Chase & Co. lifted their price objective on shares of Quest Diagnostics from $173.00 to $180.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Jefferies Financial Group reissued a “buy” rating and set a $185.00 price objective (up previously from $175.00) on shares of Quest Diagnostics in a research note on Tuesday, December 10th. Finally, Truist Financial lifted their price objective on shares of Quest Diagnostics from $172.00 to $182.00 and gave the stock a “hold” rating in a research note on Friday, January 31st. Eight equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Quest Diagnostics presently has a consensus rating of “Moderate Buy” and an average target price of $178.23.

Quest Diagnostics Price Performance

NYSE DGX opened at $172.22 on Wednesday. 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 Incorporated has a 12-month low of $125.42 and a 12-month high of $178.87. The company has a market capitalization of $19.11 billion, a PE ratio of 22.40, a price-to-earnings-growth ratio of 2.16 and a beta of 0.92. The firm’s 50 day moving average is $164.35 and its 200-day moving average is $158.41.

Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings data on Thursday, January 30th. The medical research company reported $2.23 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts anticipate that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal year.

Quest Diagnostics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.86%. This is an increase from Quest Diagnostics’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Monday, April 7th. Quest Diagnostics’s payout ratio is presently 41.61%.

Quest Diagnostics Company 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.