Quest Diagnostics Incorporated (DGX) Shares Bought by QS Investors LLC

QS Investors LLC raised its stake in Quest Diagnostics Incorporated (NYSE:DGX) by 5.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,551 shares of the medical research company’s stock after acquiring an additional 568 shares during the quarter. QS Investors LLC’s holdings in Quest Diagnostics were worth $1,173,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. boosted its stake in Quest Diagnostics by 55.9% in the second quarter. Meeder Asset Management Inc. now owns 34,817 shares of the medical research company’s stock valued at $3,870,000 after acquiring an additional 12,478 shares during the last quarter. Bank of America Corp DE boosted its stake in Quest Diagnostics by 0.6% in the first quarter. Bank of America Corp DE now owns 1,887,303 shares of the medical research company’s stock valued at $185,315,000 after acquiring an additional 11,399 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Quest Diagnostics by 4.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 487,316 shares of the medical research company’s stock valued at $54,171,000 after acquiring an additional 18,968 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Quest Diagnostics by 12.7% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 33,104 shares of the medical research company’s stock valued at $3,680,000 after acquiring an additional 3,719 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its stake in Quest Diagnostics by 76.1% in the second quarter. Alliancebernstein L.P. now owns 1,144,504 shares of the medical research company’s stock valued at $127,223,000 after acquiring an additional 494,535 shares during the last quarter. Hedge funds and other institutional investors own 87.10% of the company’s stock.

DGX has been the topic of a number of research analyst reports. Raymond James Financial, Inc. reiterated a “market perform” rating on shares of Quest Diagnostics in a research note on Monday, September 25th. Canaccord Genuity reiterated a “buy” rating and issued a $118.00 target price on shares of Quest Diagnostics in a research note on Wednesday, September 13th. ValuEngine upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. BidaskClub upgraded shares of Quest Diagnostics from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 29th. Finally, Barclays PLC reiterated a “hold” rating and issued a $110.00 target price on shares of Quest Diagnostics in a research note on Wednesday, July 19th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the stock. Quest Diagnostics presently has a consensus rating of “Hold” and a consensus target price of $109.09.

Shares of Quest Diagnostics Incorporated (NYSE:DGX) opened at 91.45 on Thursday. The company has a market cap of $12.47 billion, a price-to-earnings ratio of 18.43 and a beta of 0.65. Quest Diagnostics Incorporated has a 12-month low of $79.12 and a 12-month high of $112.96. The company’s 50-day moving average is $101.06 and its 200-day moving average is $104.89.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Tuesday, July 25th. The medical research company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.13. Quest Diagnostics had a net margin of 9.28% and a return on equity of 15.66%. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the firm earned $1.34 earnings per share. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. Equities research analysts predict that Quest Diagnostics Incorporated will post $5.66 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 18th. Shareholders of record on Tuesday, October 3rd will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.97%. The ex-dividend date is Monday, October 2nd. Quest Diagnostics’s dividend payout ratio is currently 36.29%.

In other Quest Diagnostics news, Director Jeffrey M. Leiden sold 1,304 shares of Quest Diagnostics stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $108.73, for a total transaction of $141,783.92. Following the transaction, the director now owns 6,296 shares of the company’s stock, valued at $684,564.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Stephen H. Rusckowski sold 53,933 shares of Quest Diagnostics stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $108.16, for a total transaction of $5,833,393.28. Following the transaction, the chief executive officer now directly owns 220,049 shares in the company, valued at approximately $23,800,499.84. The disclosure for this sale can be found here. Insiders have sold 161,996 shares of company stock worth $17,517,207 in the last ninety days. Insiders own 1.75% of the company’s stock.

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Quest Diagnostics Profile

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).

Institutional Ownership by Quarter for Quest Diagnostics (NYSE:DGX)

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