Tredje AP fonden lowered its position in Quest Diagnostics Incorporated (NYSE:DGX) by 1.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 42,170 shares of the medical research company’s stock after selling 540 shares during the period. Tredje AP fonden’s holdings in Quest Diagnostics were worth $4,688,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. YorkBridge Wealth Partners LLC lifted its holdings in shares of Quest Diagnostics by 1.5% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,188 shares of the medical research company’s stock valued at $127,000 after purchasing an additional 18 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of Quest Diagnostics by 16.1% in the first quarter. Parallel Advisors LLC now owns 1,279 shares of the medical research company’s stock valued at $137,000 after purchasing an additional 177 shares in the last quarter. Trust Co. of Vermont lifted its holdings in shares of Quest Diagnostics by 8.5% in the first quarter. Trust Co. of Vermont now owns 1,859 shares of the medical research company’s stock valued at $182,000 after purchasing an additional 145 shares in the last quarter. Financial Architects Inc lifted its holdings in shares of Quest Diagnostics by 5.6% in the second quarter. Financial Architects Inc now owns 1,666 shares of the medical research company’s stock valued at $185,000 after purchasing an additional 88 shares in the last quarter. Finally, Wagner Bowman Management Corp bought a new position in shares of Quest Diagnostics in the second quarter valued at approximately $200,000. Institutional investors and hedge funds own 87.10% of the company’s stock.
A number of analysts recently commented on the company. ValuEngine upgraded Quest Diagnostics from a “hold” rating to a “buy” rating in a report on Friday, September 1st. BidaskClub lowered Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Zacks Investment Research lowered Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Credit Suisse Group reiterated a “neutral” rating and set a $110.00 price target (up from $83.00) on shares of Quest Diagnostics in a report on Thursday, July 13th. They noted that the move was a valuation call. Finally, Bank of America Corporation reiterated a “neutral” rating and set a $110.00 price target (up from $105.00) on shares of Quest Diagnostics in a report on Sunday, May 28th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $111.09.
Quest Diagnostics Incorporated (NYSE:DGX) opened at 102.11 on Friday. Quest Diagnostics Incorporated has a 12 month low of $79.12 and a 12 month high of $112.97. The stock has a market capitalization of $13.93 billion, a PE ratio of 20.58 and a beta of 0.69. The stock has a 50 day moving average price of $106.58 and a 200 day moving average price of $105.42.
Quest Diagnostics (NYSE:DGX) last released its quarterly earnings results on Tuesday, July 25th. The medical research company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.13. Quest Diagnostics had a return on equity of 15.66% and a net margin of 9.28%. The firm had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the prior year, the firm earned $1.34 EPS. The company’s revenue was up 1.9% compared to the same quarter last year. On average, equities research analysts forecast that Quest Diagnostics Incorporated will post $5.69 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 18th. Investors of record on Tuesday, October 3rd will be issued a $0.45 dividend. The ex-dividend date of this dividend is Monday, October 2nd. This represents a $1.80 dividend on an annualized basis and a yield of 1.76%. Quest Diagnostics’s dividend payout ratio is currently 36.29%.
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In related news, Director Jeffrey M. Leiden sold 1,304 shares of the firm’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $108.73, for a total value of $141,783.92. Following the transaction, the director now directly owns 6,296 shares of the company’s stock, valued at approximately $684,564.08. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jeffrey M. Leiden sold 296 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $106.66, for a total value of $31,571.36. Following the completion of the transaction, the director now directly owns 6,000 shares in the company, valued at $639,960. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 161,996 shares of company stock worth $17,517,207. 1.75% of the stock is owned by insiders.
About Quest Diagnostics
Quest Diagnostics Incorporated is a provider of diagnostic information services. The Company operates through two businesses: Diagnostic Information Services and Diagnostic Solutions. The Diagnostic Information Services business develops and delivers diagnostic testing information and services, providing insights that empower and enable a range of customers, including patients, clinicians, hospitals, integrated delivery networks (IDNs), health plans, employers and accountable care organizations (ACOs).
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