D L Carlson Investment Group Inc. Buys New Position in Quest Diagnostics Inc (NYSE:DGX)

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D L Carlson Investment Group Inc. purchased a new stake in Quest Diagnostics Inc (NYSE:DGX) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 24,374 shares of the medical research company’s stock, valued at approximately $2,609,000.

Other institutional investors have also recently made changes to their positions in the company. Thoroughbred Financial Services LLC grew its stake in shares of Quest Diagnostics by 10,065.6% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,664,620 shares of the medical research company’s stock valued at $166,462,000 after acquiring an additional 1,648,245 shares during the period. Boston Partners raised its stake in shares of Quest Diagnostics by 24.1% in the second quarter. Boston Partners now owns 3,763,778 shares of the medical research company’s stock worth $383,167,000 after purchasing an additional 729,863 shares during the last quarter. Balyasny Asset Management LLC raised its position in Quest Diagnostics by 754.1% during the second quarter. Balyasny Asset Management LLC now owns 646,737 shares of the medical research company’s stock valued at $65,844,000 after acquiring an additional 571,015 shares in the last quarter. Marshall Wace North America L.P. grew its holdings in Quest Diagnostics by 33.7% in the second quarter. Marshall Wace North America L.P. now owns 1,780,582 shares of the medical research company’s stock valued at $181,281,000 after purchasing an additional 448,332 shares during the period. Finally, Nuveen Asset Management LLC boosted its stake in shares of Quest Diagnostics by 10,690.1% in the second quarter. Nuveen Asset Management LLC now owns 422,649 shares of the medical research company’s stock worth $43,030,000 after acquiring an additional 418,732 shares during the last quarter. 89.92% of the stock is owned by institutional investors and hedge funds.

In related news, CAO Michael J. Deppe sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $106.00, for a total transaction of $530,000.00. Following the sale, the chief accounting officer now owns 28,671 shares of the company’s stock, valued at $3,039,126. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.86% of the stock is owned by insiders.

Several research firms have recently issued reports on DGX. Evercore ISI reaffirmed a “buy” rating and set a $108.00 price objective on shares of Quest Diagnostics in a research report on Thursday, August 8th. Morgan Stanley increased their target price on Quest Diagnostics from $111.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. UBS Group dropped their target price on Quest Diagnostics from $103.00 to $102.00 and set a “neutral” rating on the stock in a research report on Monday, October 21st. Canaccord Genuity restated a “buy” rating and issued a $113.00 target price on shares of Quest Diagnostics in a research note on Wednesday, October 23rd. Finally, Goldman Sachs Group downgraded Quest Diagnostics from a “neutral” rating to a “sell” rating and decreased their target price for the company from $90.00 to $85.00 in a research note on Monday, July 15th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Quest Diagnostics has an average rating of “Hold” and a consensus target price of $105.27.

DGX opened at $101.57 on Friday. The business’s 50 day moving average is $103.53 and its 200-day moving average is $101.01. The stock has a market cap of $13.58 billion, a PE ratio of 16.10, a price-to-earnings-growth ratio of 2.12 and a beta of 0.85. The company has a current ratio of 0.88, a quick ratio of 0.83 and a debt-to-equity ratio of 0.56. Quest Diagnostics Inc has a twelve month low of $78.95 and a twelve month high of $107.97.

Quest Diagnostics (NYSE:DGX) last announced its earnings results on Tuesday, October 22nd. The medical research company reported $1.76 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.71 by $0.05. Quest Diagnostics had a return on equity of 15.32% and a net margin of 9.58%. The firm had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the previous year, the company earned $1.68 earnings per share. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. As a group, analysts forecast that Quest Diagnostics Inc will post 6.5 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Friday, October 4th were issued a dividend of $0.53 per share. The ex-dividend date was Thursday, October 3rd. This represents a $2.12 annualized dividend and a yield of 2.09%. Quest Diagnostics’s payout ratio is 33.60%.

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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