TD Asset Management Inc. trimmed its position in shares of Quest Diagnostics Inc (NYSE:DGX) by 31.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,124 shares of the medical research company’s stock after selling 20,346 shares during the quarter. TD Asset Management Inc.’s holdings in Quest Diagnostics were worth $4,225,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the company. APG Asset Management N.V. boosted its stake in Quest Diagnostics by 156.0% during the 3rd quarter. APG Asset Management N.V. now owns 2,683,901 shares of the medical research company’s stock worth $251,320,000 after purchasing an additional 1,635,700 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Quest Diagnostics by 9,350.4% during the 2nd quarter. Janus Henderson Group PLC now owns 1,451,774 shares of the medical research company’s stock worth $161,379,000 after purchasing an additional 1,436,412 shares during the last quarter. AJO LP boosted its stake in Quest Diagnostics by 137.9% during the 2nd quarter. AJO LP now owns 2,134,245 shares of the medical research company’s stock worth $237,243,000 after purchasing an additional 1,237,021 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in Quest Diagnostics by 316.2% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,043,889 shares of the medical research company’s stock worth $116,035,000 after purchasing an additional 793,085 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Quest Diagnostics by 3.9% during the 2nd quarter. Vanguard Group Inc. now owns 14,029,322 shares of the medical research company’s stock worth $1,559,500,000 after purchasing an additional 525,200 shares during the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.
DGX has been the topic of several recent research reports. BidaskClub cut shares of Quest Diagnostics from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Morgan Stanley boosted their price target on shares of Quest Diagnostics from $87.00 to $92.00 and gave the company an “underweight” rating in a research report on Thursday, August 10th. ValuEngine upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Canaccord Genuity restated a “buy” rating and issued a $118.00 price objective on shares of Quest Diagnostics in a report on Wednesday, September 13th. Finally, Raymond James Financial restated a “market perform” rating on shares of Quest Diagnostics in a report on Monday, September 25th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $106.28.
Shares of Quest Diagnostics Inc (NYSE:DGX) traded down $0.48 during trading on Thursday, hitting $97.39. The stock had a trading volume of 1,026,200 shares, compared to its average volume of 1,022,947. Quest Diagnostics Inc has a 1-year low of $87.83 and a 1-year high of $112.96. The firm has a market capitalization of $13,339.62, a P/E ratio of 17.54, a PEG ratio of 2.04 and a beta of 0.60. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.37 and a current ratio of 1.47.
Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings data on Thursday, October 19th. The medical research company reported $1.39 EPS for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.04. Quest Diagnostics had a return on equity of 15.53% and a net margin of 8.82%. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same period in the previous year, the company posted $1.37 earnings per share. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. analysts forecast that Quest Diagnostics Inc will post 5.65 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Tuesday, January 9th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Monday, January 8th. Quest Diagnostics’s dividend payout ratio (DPR) is 37.74%.
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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).
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