BTIM Corp. Boosts Stake in Quest Diagnostics Inc (DGX)

BTIM Corp. grew its position in Quest Diagnostics Inc (NYSE:DGX) by 1.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,055 shares of the medical research company’s stock after purchasing an additional 325 shares during the quarter. BTIM Corp.’s holdings in Quest Diagnostics were worth $1,893,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp grew its position in Quest Diagnostics by 5.4% during the third quarter. Bank of New York Mellon Corp now owns 1,877,866 shares of the medical research company’s stock worth $202,640,000 after buying an additional 96,493 shares in the last quarter. Renaissance Technologies LLC grew its position in Quest Diagnostics by 3.1% during the third quarter. Renaissance Technologies LLC now owns 259,400 shares of the medical research company’s stock worth $27,992,000 after buying an additional 7,900 shares in the last quarter. LPL Financial LLC grew its position in Quest Diagnostics by 14.5% during the third quarter. LPL Financial LLC now owns 11,450 shares of the medical research company’s stock worth $1,236,000 after buying an additional 1,454 shares in the last quarter. BlueMountain Capital Management LLC grew its position in Quest Diagnostics by 39.3% during the third quarter. BlueMountain Capital Management LLC now owns 3,078 shares of the medical research company’s stock worth $332,000 after buying an additional 868 shares in the last quarter. Finally, Pacer Advisors Inc. grew its position in Quest Diagnostics by 17.1% during the third quarter. Pacer Advisors Inc. now owns 7,517 shares of the medical research company’s stock worth $811,000 after buying an additional 1,096 shares in the last quarter. 90.24% of the stock is currently owned by institutional investors.

In other news, SVP Catherine T. Doherty sold 66,382 shares of the stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $90.59, for a total value of $6,013,545.38. Following the completion of the transaction, the senior vice president now directly owns 133,908 shares in the company, valued at approximately $12,130,725.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gail R. Wilensky sold 8,000 shares of the stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $87.78, for a total value of $702,240.00. Following the completion of the transaction, the director now owns 34,604 shares of the company’s stock, valued at $3,037,539.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 88,106 shares of company stock worth $7,935,229. Company insiders own 1.79% of the company’s stock.

A number of brokerages recently issued reports on DGX. Wolfe Research began coverage on Quest Diagnostics in a research report on Tuesday, April 2nd. They set an “underperform” rating on the stock. Jefferies Financial Group raised Quest Diagnostics from a “hold” rating to a “buy” rating and increased their price target for the stock from $93.00 to $107.00 in a research report on Tuesday, April 2nd. Zacks Investment Research raised Quest Diagnostics from a “sell” rating to a “hold” rating in a research report on Tuesday, February 12th. Credit Suisse Group downgraded Quest Diagnostics from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $101.00 to $91.00 in a research report on Monday, March 18th. Finally, Mizuho set a $106.00 price target on Quest Diagnostics and gave the stock a “buy” rating in a research report on Friday, February 15th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $102.50.

Shares of DGX stock opened at $85.75 on Friday. The firm has a market capitalization of $11.54 billion, a price-to-earnings ratio of 13.59, a price-to-earnings-growth ratio of 2.13 and a beta of 0.90. Quest Diagnostics Inc has a fifty-two week low of $78.95 and a fifty-two week high of $116.49. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.87 and a current ratio of 0.94.

Quest Diagnostics (NYSE:DGX) last issued its earnings results on Thursday, February 14th. The medical research company reported $1.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.37 by ($0.01). The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.88 billion. Quest Diagnostics had a net margin of 9.77% and a return on equity of 15.23%. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.40 EPS. On average, analysts forecast that Quest Diagnostics Inc will post 6.46 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 22nd. Shareholders of record on Monday, April 8th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date is Friday, April 5th. Quest Diagnostics’s dividend payout ratio is presently 33.60%.

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About Quest Diagnostics

Quest Diagnostics Incorporated provides diagnostic testing information and services in the United States and internationally. The company's Diagnostic Information Services business segment develops and delivers diagnostic testing information and services, such as routine testing, non-routine and advanced clinical testing, gene-based and esoteric testing, anatomic pathology, and other diagnostic information services.

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

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