Bessemer Group Inc. Increases Stake in Quest Diagnostics Incorporated (NYSE:DGX)

Bessemer Group Inc. grew its holdings in Quest Diagnostics Incorporated (NYSE:DGX) by 0.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 906,601 shares of the medical research company’s stock after acquiring an additional 3,520 shares during the period. Bessemer Group Inc. owned about 0.81% of Quest Diagnostics worth $127,431,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. ProShare Advisors LLC grew its position in shares of Quest Diagnostics by 3.2% during the second quarter. ProShare Advisors LLC now owns 17,942 shares of the medical research company’s stock worth $2,522,000 after buying an additional 560 shares in the last quarter. Providence Capital Advisors LLC grew its holdings in Quest Diagnostics by 12.7% during the 2nd quarter. Providence Capital Advisors LLC now owns 34,509 shares of the medical research company’s stock worth $4,851,000 after acquiring an additional 3,894 shares in the last quarter. Commonwealth Equity Services LLC increased its position in shares of Quest Diagnostics by 38.5% in the 2nd quarter. Commonwealth Equity Services LLC now owns 29,540 shares of the medical research company’s stock valued at $4,152,000 after purchasing an additional 8,215 shares during the last quarter. Johnson Investment Counsel Inc. raised its holdings in shares of Quest Diagnostics by 2.1% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 4,525 shares of the medical research company’s stock valued at $636,000 after purchasing an additional 93 shares in the last quarter. Finally, JGP Wealth Management LLC grew its stake in shares of Quest Diagnostics by 3.1% during the second quarter. JGP Wealth Management LLC now owns 105,415 shares of the medical research company’s stock worth $14,817,000 after purchasing an additional 3,211 shares in the last quarter. Hedge funds and other institutional investors own 87.76% of the company’s stock.

Quest Diagnostics Stock Performance

NYSE DGX opened at $134.85 on Tuesday. The business’s 50-day moving average price is $126.98 and its 200 day moving average price is $132.47. Quest Diagnostics Incorporated has a 52-week low of $119.59 and a 52-week high of $158.34. The firm has a market cap of $15.16 billion, a P/E ratio of 20.25 and a beta of 0.92. The company has a quick ratio of 1.01, a current ratio of 1.12 and a debt-to-equity ratio of 0.61.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings results on Tuesday, October 24th. The medical research company reported $2.22 EPS for the quarter, topping the consensus estimate of $2.19 by $0.03. Quest Diagnostics had a return on equity of 15.80% and a net margin of 8.21%. The business had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the prior year, the business earned $2.36 earnings per share. The company’s quarterly revenue was down 7.7% compared to the same quarter last year. On average, equities research analysts expect that Quest Diagnostics Incorporated will post 8.71 earnings per share for the current year.

Quest Diagnostics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Wednesday, January 17th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Tuesday, January 16th. Quest Diagnostics’s payout ratio is 42.64%.

Wall Street Analysts Forecast Growth

DGX has been the topic of a number of analyst reports. JPMorgan Chase & Co. raised their price target on Quest Diagnostics from $148.00 to $149.00 and gave the company a “neutral” rating in a research note on Friday. Citigroup lowered their price target on Quest Diagnostics from $142.00 to $130.00 and set a “neutral” rating for the company in a report on Wednesday, October 25th. TheStreet cut shares of Quest Diagnostics from a “b-” rating to a “c” rating in a report on Tuesday, October 24th. Morgan Stanley restated an “equal weight” rating and issued a $145.00 target price on shares of Quest Diagnostics in a report on Thursday, August 3rd. Finally, StockNews.com upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a research note on Wednesday, November 15th. Nine equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $146.09.

About Quest Diagnostics

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