Quest Diagnostics Inc (DGX) Shares Sold by IFG Advisory LLC

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IFG Advisory LLC cut its stake in Quest Diagnostics Inc (NYSE:DGX) by 11.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 4,258 shares of the medical research company’s stock after selling 535 shares during the quarter. IFG Advisory LLC’s holdings in Quest Diagnostics were worth $459,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of DGX. Poplar Forest Capital LLC acquired a new stake in shares of Quest Diagnostics in the third quarter valued at approximately $294,000. Los Angeles Capital Management & Equity Research Inc. grew its position in shares of Quest Diagnostics by 115.5% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 111,985 shares of the medical research company’s stock valued at $12,084,000 after purchasing an additional 60,030 shares during the last quarter. WINTON GROUP Ltd grew its position in shares of Quest Diagnostics by 1,915.9% in the third quarter. WINTON GROUP Ltd now owns 140,306 shares of the medical research company’s stock valued at $15,140,000 after purchasing an additional 133,346 shares during the last quarter. American Century Companies Inc. grew its position in shares of Quest Diagnostics by 38.7% in the third quarter. American Century Companies Inc. now owns 4,109,526 shares of the medical research company’s stock valued at $443,459,000 after purchasing an additional 1,147,470 shares during the last quarter. Finally, Bbva Compass Bancshares Inc. acquired a new stake in shares of Quest Diagnostics in the third quarter valued at approximately $142,000. 86.55% of the stock is owned by institutional investors.

DGX has been the topic of several research reports. Bank of America initiated coverage on shares of Quest Diagnostics in a research report on Friday, October 19th. They issued a “buy” rating on the stock. Argus set a $106.00 price target on shares of Quest Diagnostics and gave the company a “buy” rating in a research report on Wednesday, October 24th. JPMorgan Chase & Co. lowered their price target on shares of Quest Diagnostics from $114.00 to $107.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 24th. Barclays lowered their price target on shares of Quest Diagnostics from $130.00 to $125.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 24th. Finally, Credit Suisse Group lowered their price target on shares of Quest Diagnostics from $128.00 to $121.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 24th. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Quest Diagnostics has a consensus rating of “Buy” and a consensus target price of $111.13.

Shares of NYSE DGX opened at $97.33 on Friday. Quest Diagnostics Inc has a 1 year low of $90.31 and a 1 year high of $116.49. The company has a market cap of $13.27 billion, a P/E ratio of 18.02, a PEG ratio of 1.76 and a beta of 0.90. The company has a current ratio of 1.15, a quick ratio of 1.09 and a debt-to-equity ratio of 0.63.

Quest Diagnostics (NYSE:DGX) last announced its earnings results on Tuesday, October 23rd. The medical research company reported $1.68 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.68. Quest Diagnostics had a net margin of 11.30% and a return on equity of 15.71%. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same quarter last year, the business earned $1.38 earnings per share. Quest Diagnostics’s revenue was up 1.8% compared to the same quarter last year. Sell-side analysts anticipate that Quest Diagnostics Inc will post 6.56 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, October 22nd. Investors of record on Friday, October 5th were given a dividend of $0.50 per share. The ex-dividend date was Thursday, October 4th. This represents a $2.00 dividend on an annualized basis and a yield of 2.05%. Quest Diagnostics’s dividend payout ratio (DPR) is currently 37.04%.

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Quest Diagnostics Profile

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.

Read More: What is a stock buyback?

Want to see what other hedge funds are holding DGX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quest Diagnostics Inc (NYSE:DGX).

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

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