Roberts Glore & Co. Inc. IL reduced its position in Quest Diagnostics Incorporated (NYSE:DGX) by 15.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,378 shares of the medical research company’s stock after selling 2,720 shares during the quarter. Quest Diagnostics makes up 1.1% of Roberts Glore & Co. Inc. IL’s portfolio, making the stock its 26th largest holding. Roberts Glore & Co. Inc. IL’s holdings in Quest Diagnostics were worth $1,598,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Sun Life Financial INC lifted its position in Quest Diagnostics by 14,142.9% in the second quarter. Sun Life Financial INC now owns 997 shares of the medical research company’s stock worth $111,000 after purchasing an additional 990 shares during the period. Parallel Advisors LLC raised its stake in Quest Diagnostics by 16.1% during the first quarter. Parallel Advisors LLC now owns 1,279 shares of the medical research company’s stock worth $137,000 after acquiring an additional 177 shares in the last quarter. Acrospire Investment Management LLC raised its stake in Quest Diagnostics by 300.0% during the second quarter. Acrospire Investment Management LLC now owns 1,600 shares of the medical research company’s stock worth $178,000 after acquiring an additional 1,200 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in Quest Diagnostics during the second quarter worth $180,000. Finally, Financial Architects Inc raised its stake in Quest Diagnostics by 5.6% during the second quarter. Financial Architects Inc now owns 1,666 shares of the medical research company’s stock worth $185,000 after acquiring an additional 88 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.
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Quest Diagnostics Incorporated (NYSE DGX) traded up 0.66% on Wednesday, hitting $92.79. The company’s stock had a trading volume of 640,625 shares. Quest Diagnostics Incorporated has a 12 month low of $79.12 and a 12 month high of $112.97. The firm has a 50 day moving average of $99.98 and a 200-day moving average of $104.83. The stock has a market cap of $12.66 billion, a PE ratio of 18.70 and a beta of 0.65.
Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings data on Tuesday, July 25th. The medical research company reported $1.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.42 by $0.13. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. Quest Diagnostics had a net margin of 9.28% and a return on equity of 15.66%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.34 earnings per share. On average, analysts expect that Quest Diagnostics Incorporated will post $5.63 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 18th. Stockholders of record on Tuesday, October 3rd will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend is Monday, October 2nd. Quest Diagnostics’s dividend payout ratio (DPR) is presently 36.29%.
In related news, CEO Stephen H. Rusckowski sold 53,933 shares of Quest Diagnostics stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $108.16, for a total transaction of $5,833,393.28. Following the transaction, the chief executive officer now directly owns 220,049 shares of the company’s stock, valued at $23,800,499.84. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jeffrey M. Leiden sold 296 shares of Quest Diagnostics stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $106.66, for a total transaction of $31,571.36. Following 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 have sold 161,996 shares of company stock worth $17,517,207. Corporate insiders own 1.75% of the company’s stock.
DGX has been the subject of several recent analyst reports. Wells Fargo & Company started coverage on Quest Diagnostics in a research note on Thursday, October 12th. They set a “market perform” rating and a $88.00 price objective for the company. Raymond James Financial, Inc. restated a “market perform” rating on shares of Quest Diagnostics in a research note on Monday, September 25th. BidaskClub lowered Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Bank of America Corporation upgraded Quest Diagnostics from a “neutral” rating to a “buy” rating and raised their target price for the company from $111.00 to $118.00 in a research note on Tuesday, July 25th. Finally, Goldman Sachs Group, Inc. (The) lowered Quest Diagnostics from a “conviction-buy” rating to a “buy” rating and lowered their target price for the company from $121.00 to $113.00 in a research note on Tuesday, October 10th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $108.39.
Quest Diagnostics Company Profile
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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