Buffington Mohr McNeal lowered its stake in Quest Diagnostics Incorporated (NYSE:DGX) by 18.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,967 shares of the medical research company’s stock after selling 433 shares during the period. Buffington Mohr McNeal’s holdings in Quest Diagnostics were worth $219,000 as of its most recent filing with the SEC.
Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. raised its position in Quest Diagnostics by 2,638.3% in the first quarter. BlackRock Inc. now owns 15,362,418 shares of the medical research company’s stock valued at $1,508,435,000 after buying an additional 14,801,397 shares during the last quarter. State Street Corp raised its position in Quest Diagnostics by 2.7% in the first quarter. State Street Corp now owns 6,918,900 shares of the medical research company’s stock valued at $679,362,000 after buying an additional 180,690 shares during the last quarter. Schroder Investment Management Group raised its position in Quest Diagnostics by 8.3% in the first quarter. Schroder Investment Management Group now owns 2,188,114 shares of the medical research company’s stock valued at $215,245,000 after buying an additional 167,246 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Quest Diagnostics by 5.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,022,107 shares of the medical research company’s stock valued at $198,551,000 after buying an additional 99,153 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of Quest Diagnostics by 0.6% in the first quarter. Bank of America Corp DE now owns 1,887,303 shares of the medical research company’s stock valued at $185,315,000 after buying an additional 11,399 shares in the last quarter. Institutional investors own 90.97% of the company’s stock.
Shares of Quest Diagnostics Incorporated (NYSE:DGX) traded down 0.49% on Tuesday, reaching $106.21. The company’s stock had a trading volume of 885,017 shares. The firm’s 50 day moving average is $109.15 and its 200-day moving average is $102.52. The stock has a market cap of $14.49 billion, a P/E ratio of 21.40 and a beta of 0.69. Quest Diagnostics Incorporated has a 52-week low of $79.12 and a 52-week high of $112.97.
Quest Diagnostics (NYSE:DGX) last announced its earnings results on Tuesday, July 25th. The medical research company reported $1.55 EPS for the quarter, topping the Zacks’ 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 company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same period last year, the firm earned $1.34 EPS. Quest Diagnostics’s revenue for the quarter 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 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, July 24th. Investors of record on Monday, July 10th were issued a $0.45 dividend. The ex-dividend date of this dividend was Thursday, July 6th. This represents a $1.80 dividend on an annualized basis and a yield of 1.69%. Quest Diagnostics’s dividend payout ratio is currently 36.29%.
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Several equities analysts recently issued reports on the company. BidaskClub upgraded Quest Diagnostics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 29th. UBS AG boosted their price objective on Quest Diagnostics from $115.00 to $123.00 and gave the company a “buy” rating in a research report on Thursday, July 6th. Mizuho boosted their price objective on Quest Diagnostics from $115.00 to $122.00 and gave the company a “buy” rating in a research report on Monday, June 5th. ValuEngine upgraded Quest Diagnostics from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, Barclays PLC restated a “hold” rating and issued a $110.00 target price on shares of Quest Diagnostics in a research note on Wednesday, July 19th. Nine investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $110.72.
In related news, 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 transaction, the director now directly owns 6,000 shares of the company’s stock, valued at approximately $639,960. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 completion of the transaction, the director now directly owns 6,296 shares in the company, valued at $684,564.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 61,362 shares of company stock worth $6,600,758. 1.50% 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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