Cipher Capital LP lessened its holdings in Quest Diagnostics Incorporated (NYSE:DGX) by 70.2% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 25,736 shares of the medical research company’s stock after selling 60,576 shares during the period. Cipher Capital LP’s holdings in Quest Diagnostics were worth $2,410,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of DGX. WFG Advisors LP increased its stake in Quest Diagnostics by 45.3% in the second quarter. WFG Advisors LP now owns 966 shares of the medical research company’s stock valued at $107,000 after acquiring an additional 301 shares during the last quarter. Sun Life Financial INC increased its stake in Quest Diagnostics by 14,142.9% in the second quarter. Sun Life Financial INC now owns 997 shares of the medical research company’s stock valued at $111,000 after acquiring an additional 990 shares during the last quarter. Parallel Advisors LLC increased its stake in Quest Diagnostics by 0.9% in the second quarter. Parallel Advisors LLC now owns 1,291 shares of the medical research company’s stock valued at $140,000 after acquiring an additional 12 shares during the last quarter. Acrospire Investment Management LLC increased its stake in Quest Diagnostics by 300.0% in the second quarter. Acrospire Investment Management LLC now owns 1,600 shares of the medical research company’s stock valued at $178,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in Quest Diagnostics in the second quarter valued at $180,000. Institutional investors own 88.52% of the company’s stock.
Quest Diagnostics Incorporated (NYSE DGX) traded down $0.63 during midday trading on Tuesday, hitting $92.41. The company had a trading volume of 2,092,700 shares, compared to its average volume of 990,212. The company has a quick ratio of 1.37, a current ratio of 1.47 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $12,600.00, a PE ratio of 16.67, a PEG ratio of 1.94 and a beta of 0.59. Quest Diagnostics Incorporated has a 12 month low of $85.52 and a 12 month high of $112.96.
Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings data on Thursday, October 19th. The medical research company reported $1.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.04. Quest Diagnostics had a net margin of 8.82% and a return on equity of 15.53%. The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same period last year, the business posted $1.37 earnings per share. Quest Diagnostics’s quarterly revenue was up 2.4% compared to the same quarter last year. equities analysts anticipate that Quest Diagnostics Incorporated will post 5.65 EPS for the current year.
A number of research firms recently commented on DGX. Zacks Investment Research cut Quest Diagnostics from a “hold” rating to a “sell” rating in a research note on Friday, October 27th. Mizuho set a $103.00 price objective on Quest Diagnostics and gave the company a “buy” rating in a research note on Thursday, October 19th. Canaccord Genuity raised their price objective on Quest Diagnostics from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. BidaskClub cut Quest Diagnostics from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Finally, SunTrust Banks, Inc. set a $105.00 price objective on Quest Diagnostics and gave the company a “hold” rating in a research note on Sunday, October 15th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the company’s stock. Quest Diagnostics has an average rating of “Hold” and a consensus price target of $106.18.
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In other Quest Diagnostics news, Chairman Stephen H. Rusckowski sold 2,525 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $108.03, for a total value of $272,775.75. Following the completion of the sale, the chairman now directly owns 168,413 shares in the company, valued at $18,193,656.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel Stanzione sold 3,803 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $108.01, for a total transaction of $410,762.03. Following the completion of the sale, the director now owns 35,359 shares of the company’s stock, valued at $3,819,125.59. The disclosure for this sale can be found here. Insiders sold 160,396 shares of company stock valued at $17,343,852 over the last 90 days. 1.75% of the stock is currently owned by company insiders.
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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