Private Advisor Group LLC increased its stake in Quest Diagnostics Incorporated (NYSE:DGX) by 5.5% during the second quarter, according to its most recent filing with the SEC. The fund owned 7,934 shares of the medical research company’s stock after buying an additional 416 shares during the quarter. Private Advisor Group LLC’s holdings in Quest Diagnostics were worth $862,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of DGX. Profund Advisors LLC boosted its holdings in shares of Quest Diagnostics by 9.8% in the 1st quarter. Profund Advisors LLC now owns 5,673 shares of the medical research company’s stock worth $557,000 after buying an additional 507 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its holdings in shares of Quest Diagnostics by 17.1% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 3,022 shares of the medical research company’s stock worth $297,000 after buying an additional 442 shares during the last quarter. Chicago Equity Partners LLC boosted its holdings in shares of Quest Diagnostics by 9.3% in the 1st quarter. Chicago Equity Partners LLC now owns 2,700 shares of the medical research company’s stock worth $265,000 after buying an additional 230 shares during the last quarter. Henderson Group PLC boosted its holdings in shares of Quest Diagnostics by 3.4% in the 1st quarter. Henderson Group PLC now owns 15,362 shares of the medical research company’s stock worth $1,508,000 after buying an additional 500 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in shares of Quest Diagnostics by 9.9% in the 1st quarter. US Bancorp DE now owns 17,909 shares of the medical research company’s stock worth $1,758,000 after buying an additional 1,608 shares during the last quarter. 87.07% of the stock is currently owned by institutional investors.
Shares of Quest Diagnostics Incorporated (NYSE:DGX) opened at 108.23 on Tuesday. The company has a market capitalization of $14.76 billion, a PE ratio of 21.81 and a beta of 0.69. The stock’s 50 day moving average price is $107.18 and its 200 day moving average price is $105.08. Quest Diagnostics Incorporated has a 12 month low of $79.12 and a 12 month high of $112.97.
Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings data on Tuesday, July 25th. The medical research company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.42 by $0.13. Quest Diagnostics had a return on equity of 15.66% and a net margin of 9.28%. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter last year, the company earned $1.34 earnings per share. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, analysts forecast that Quest Diagnostics Incorporated will post $5.69 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 18th. Stockholders of record on Tuesday, October 3rd will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend is Monday, October 2nd. Quest Diagnostics’s dividend payout ratio (DPR) is currently 36.29%.
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A number of equities analysts recently weighed in on DGX shares. ValuEngine raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Zacks Investment Research cut Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Monday, May 22nd. BidaskClub cut Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Credit Suisse Group restated a “neutral” rating and issued a $110.00 price objective (up from $83.00) on shares of Quest Diagnostics in a research note on Thursday, July 13th. They noted that the move was a valuation call. Finally, Bank of America Corporation restated a “neutral” rating and issued a $110.00 price objective (up from $105.00) on shares of Quest Diagnostics in a research note on Sunday, May 28th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $111.09.
In related news, Director Jeffrey M. Leiden sold 1,304 shares of Quest Diagnostics stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $108.73, for a total transaction of $141,783.92. Following the sale, the director now owns 6,296 shares of the company’s stock, valued at approximately $684,564.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Catherine T. Doherty sold 59,762 shares of Quest Diagnostics stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $107.55, for a total value of $6,427,403.10. Following the sale, the senior vice president now directly owns 78,582 shares in the company, valued at approximately $8,451,494.10. The disclosure for this sale can be found here. Insiders sold 67,690 shares of company stock worth $7,284,296 in the last ninety days. Corporate insiders own 1.75% of the company’s stock.
About Quest Diagnostics
Quest Diagnostics Incorporated is a provider of diagnostic information services. The Company operates through two businesses: Diagnostic Information Services and Diagnostic Solutions. The Diagnostic Information Services business develops and delivers diagnostic testing information and services, providing insights that empower and enable a range of customers, including patients, clinicians, hospitals, integrated delivery networks (IDNs), health plans, employers and accountable care organizations (ACOs).
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