Tokio Marine Asset Management Co. Ltd. Increases Stake in Quest Diagnostics Incorporated (NYSE:DGX)

Tokio Marine Asset Management Co. Ltd. boosted its stake in Quest Diagnostics Incorporated (NYSE:DGX) by 10.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,819 shares of the medical research company’s stock after buying an additional 261 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Quest Diagnostics were worth $438,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of DGX. Metis Global Partners LLC increased its stake in shares of Quest Diagnostics by 5.1% in the 3rd quarter. Metis Global Partners LLC now owns 7,210 shares of the medical research company’s stock worth $1,119,000 after acquiring an additional 350 shares in the last quarter. Arjuna Capital increased its stake in shares of Quest Diagnostics by 1,295.0% during the third quarter. Arjuna Capital now owns 24,914 shares of the medical research company’s stock valued at $3,868,000 after purchasing an additional 23,128 shares in the last quarter. Pinnacle Financial Partners Inc purchased a new position in shares of Quest Diagnostics during the third quarter valued at approximately $209,000. MQS Management LLC bought a new stake in shares of Quest Diagnostics in the 3rd quarter worth approximately $207,000. Finally, Prime Capital Investment Advisors LLC purchased a new stake in shares of Quest Diagnostics in the 3rd quarter worth approximately $205,000. 88.06% of the stock is owned by institutional investors.

Insider Transactions at Quest Diagnostics

In related news, CAO Michael J. Deppe sold 18,755 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $154.05, for a total transaction of $2,889,207.75. Following the completion of the sale, the chief accounting officer now owns 34,941 shares in the company, valued at approximately $5,382,661.05. This trade represents a 34.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Karthik Kuppusamy sold 1,775 shares of Quest Diagnostics 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 sale, the senior vice president now directly owns 9,734 shares in the company, valued at $1,527,459.28. This trade represents a 15.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,520 shares of company stock valued at $3,472,728 over the last three months. Corporate insiders own 0.79% of the company’s stock.

Quest Diagnostics Price Performance

Shares of NYSE:DGX opened at $160.44 on Friday. The firm’s 50 day moving average price is $153.99 and its 200-day moving average price is $147.41. The company has a quick ratio of 1.17, a current ratio of 1.25 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $17.91 billion, a PE ratio of 21.56, a price-to-earnings-growth ratio of 2.79 and a beta of 0.89. Quest Diagnostics Incorporated has a twelve month low of $123.04 and a twelve month high of $162.59.

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

Quest Diagnostics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Tuesday, January 14th will be given a $0.75 dividend. The ex-dividend date is Tuesday, January 14th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.87%. Quest Diagnostics’s payout ratio is currently 40.32%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DGX. Robert W. Baird upgraded Quest Diagnostics from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $157.00 to $182.00 in a research note on Wednesday, October 23rd. Citigroup increased their price objective on shares of Quest Diagnostics from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. StockNews.com cut shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Evercore ISI initiated coverage on shares of Quest Diagnostics in a research report on Wednesday, August 28th. They set an “in-line” rating and a $165.00 price target for the company. Finally, UBS Group upped their price objective on Quest Diagnostics from $165.00 to $166.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Nine equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $164.58.

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.