Profund Advisors LLC Lowers Holdings in Quest Diagnostics Inc (NYSE:DGX)

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Profund Advisors LLC decreased its holdings in Quest Diagnostics Inc (NYSE:DGX) by 16.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,875 shares of the medical research company’s stock after selling 757 shares during the quarter. Profund Advisors LLC’s holdings in Quest Diagnostics were worth $395,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. APG Asset Management N.V. boosted its stake in shares of Quest Diagnostics by 24.2% in the second quarter. APG Asset Management N.V. now owns 55,899 shares of the medical research company’s stock valued at $4,997,000 after purchasing an additional 10,900 shares during the period. Captrust Financial Advisors lifted its stake in Quest Diagnostics by 7.8% in the second quarter. Captrust Financial Advisors now owns 2,152 shares of the medical research company’s stock worth $219,000 after acquiring an additional 156 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in Quest Diagnostics by 19.6% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,401 shares of the medical research company’s stock worth $142,000 after acquiring an additional 230 shares during the last quarter. Parametric Portfolio Associates LLC lifted its stake in Quest Diagnostics by 4.4% in the second quarter. Parametric Portfolio Associates LLC now owns 657,509 shares of the medical research company’s stock worth $66,941,000 after acquiring an additional 27,820 shares during the last quarter. Finally, MML Investors Services LLC purchased a new position in Quest Diagnostics in the second quarter worth approximately $286,000. 89.68% of the stock is owned by institutional investors and hedge funds.

DGX has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their price target on shares of Quest Diagnostics from $100.00 to $111.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Morgan Stanley lifted their price target on shares of Quest Diagnostics from $111.00 to $121.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Zacks Investment Research upgraded shares of Quest Diagnostics from a “sell” rating to a “hold” rating and set a $111.00 price target for the company in a research note on Wednesday, July 24th. Canaccord Genuity lifted their price target on shares of Quest Diagnostics from $108.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Credit Suisse Group lifted their price target on shares of Quest Diagnostics from $99.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $105.06.

Shares of NYSE:DGX traded up $1.70 during trading on Friday, hitting $107.42. 1,234,185 shares of the company were exchanged, compared to its average volume of 937,698. The stock has a market capitalization of $14.30 billion, a P/E ratio of 17.02, a PEG ratio of 2.21 and a beta of 0.87. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.82 and a quick ratio of 0.77. Quest Diagnostics Inc has a 12-month low of $78.95 and a 12-month high of $108.76. The firm’s 50 day moving average price is $102.23 and its 200-day moving average price is $97.30.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings data on Tuesday, July 23rd. The medical research company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.04. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.94 billion. Quest Diagnostics had a net margin of 9.64% and a return on equity of 15.05%. The company’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.75 EPS. As a group, equities research analysts anticipate that Quest Diagnostics Inc will post 6.5 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Friday, October 4th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $2.12 annualized dividend and a dividend yield of 1.97%. Quest Diagnostics’s dividend payout ratio is presently 33.60%.

In other news, CAO Michael J. Deppe sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $106.00, for a total transaction of $530,000.00. Following the completion of the sale, the chief accounting officer now owns 28,671 shares in the company, valued at approximately $3,039,126. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.86% of the stock is currently owned by insiders.

About Quest Diagnostics

Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic testing information and services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.

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

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