Elkhorn Investments LLC lowered its stake in Quest Diagnostics Inc (NYSE:DGX) by 7.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,768 shares of the medical research company’s stock after selling 926 shares during the period. Elkhorn Investments LLC’s holdings in Quest Diagnostics were worth $1,152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC acquired a new stake in Quest Diagnostics in the 3rd quarter valued at about $446,000. AXA raised its position in Quest Diagnostics by 38.7% in the 3rd quarter. AXA now owns 80,875 shares of the medical research company’s stock valued at $7,573,000 after purchasing an additional 22,575 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in Quest Diagnostics by 4.7% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 510,114 shares of the medical research company’s stock valued at $47,768,000 after purchasing an additional 22,798 shares in the last quarter. National Pension Service raised its position in Quest Diagnostics by 9.5% in the 4th quarter. National Pension Service now owns 155,469 shares of the medical research company’s stock valued at $15,312,000 after purchasing an additional 13,460 shares in the last quarter. Finally, Acropolis Investment Management LLC raised its position in Quest Diagnostics by 39.8% in the 4th quarter. Acropolis Investment Management LLC now owns 5,905 shares of the medical research company’s stock valued at $582,000 after purchasing an additional 1,682 shares in the last quarter. 88.65% of the stock is currently owned by institutional investors.
A number of research firms have issued reports on DGX. Goldman Sachs Group began coverage on Quest Diagnostics in a research report on Monday, January 29th. They issued a “buy” rating and a $117.00 price target on the stock. Zacks Investment Research lowered Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Morgan Stanley raised Quest Diagnostics from an “underweight” rating to an “equal weight” rating and reduced their price target for the company from $103.00 to $92.00 in a research report on Wednesday. Mizuho set a $113.00 price target on Quest Diagnostics and gave the company a “buy” rating in a research report on Wednesday, January 24th. Finally, Argus raised Quest Diagnostics from a “hold” rating to a “buy” rating and increased their price target for the company from $104.14 to $116.00 in a research report on Wednesday, March 7th. Fourteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Quest Diagnostics currently has an average rating of “Hold” and an average price target of $108.10.
Shares of Quest Diagnostics Inc (NYSE DGX) traded up $0.82 during midday trading on Wednesday, hitting $105.81. The stock had a trading volume of 73,100 shares, compared to its average volume of 1,025,407. The company has a quick ratio of 1.15, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. Quest Diagnostics Inc has a 1-year low of $90.10 and a 1-year high of $112.96. The firm has a market cap of $14,323.36, a price-to-earnings ratio of 19.09, a PEG ratio of 1.90 and a beta of 0.68.
Quest Diagnostics (NYSE:DGX) last released its quarterly earnings results on Thursday, February 1st. The medical research company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.37 by $0.03. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.93 billion. Quest Diagnostics had a return on equity of 15.41% and a net margin of 10.00%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.31 earnings per share. sell-side analysts forecast that Quest Diagnostics Inc will post 6.59 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 18th. Shareholders of record on Wednesday, April 4th will be given a dividend of $0.50 per share. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Tuesday, April 3rd. This represents a $2.00 annualized dividend and a yield of 1.89%. Quest Diagnostics’s payout ratio is 32.73%.
Quest Diagnostics Company 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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