Renaissance Technologies LLC Has $27.65 Million Stake in Quest Diagnostics Inc (NYSE:DGX)

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Renaissance Technologies LLC lessened its position in Quest Diagnostics Inc (NYSE:DGX) by 26.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 251,500 shares of the medical research company’s stock after selling 88,300 shares during the quarter. Renaissance Technologies LLC owned approximately 0.18% of Quest Diagnostics worth $27,650,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the stock. Summit Trail Advisors LLC lifted its position in Quest Diagnostics by 11,477.8% in the 1st quarter. Summit Trail Advisors LLC now owns 1,769,084 shares of the medical research company’s stock worth $1,769,000 after buying an additional 1,753,804 shares in the last quarter. Fiduciary Management Inc. WI lifted its position in Quest Diagnostics by 76.5% in the 1st quarter. Fiduciary Management Inc. WI now owns 3,669,715 shares of the medical research company’s stock worth $368,072,000 after buying an additional 1,590,069 shares in the last quarter. BlackRock Inc. lifted its position in Quest Diagnostics by 7.4% in the 1st quarter. BlackRock Inc. now owns 15,582,475 shares of the medical research company’s stock worth $1,562,924,000 after buying an additional 1,071,083 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Quest Diagnostics by 57.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,781,373 shares of the medical research company’s stock worth $195,845,000 after buying an additional 648,706 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in Quest Diagnostics by 24.8% in the 2nd quarter. American Century Companies Inc. now owns 2,962,056 shares of the medical research company’s stock worth $325,648,000 after buying an additional 589,197 shares in the last quarter. Institutional investors and hedge funds own 86.27% of the company’s stock.

NYSE:DGX traded down $0.19 during midday trading on Friday, reaching $100.25. The stock had a trading volume of 948,448 shares, compared to its average volume of 960,035. Quest Diagnostics Inc has a 1-year low of $90.10 and a 1-year high of $116.49. The company has a current ratio of 1.12, a quick ratio of 1.05 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $14.75 billion, a PE ratio of 18.56, a PEG ratio of 2.05 and a beta of 0.73.

Quest Diagnostics (NYSE:DGX) last posted its earnings results on Tuesday, July 24th. The medical research company reported $1.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.01). Quest Diagnostics had a net margin of 10.56% and a return on equity of 15.45%. The firm had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.95 billion. During the same quarter in the previous year, the business posted $1.55 earnings per share. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, analysts anticipate that Quest Diagnostics Inc will post 6.58 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 22nd. Investors of record on Friday, October 5th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, October 4th. This represents a $2.00 dividend on an annualized basis and a yield of 2.00%. Quest Diagnostics’s payout ratio is presently 37.04%.

A number of research analysts have recently weighed in on the stock. MED downgraded shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Wednesday, June 27th. Barclays upgraded shares of Quest Diagnostics from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $120.00 to $130.00 in a report on Monday, June 25th. Deutsche Bank downgraded shares of Quest Diagnostics from a “buy” rating to a “hold” rating and set a $108.00 price target on the stock. in a report on Wednesday, June 27th. Evercore ISI upgraded shares of Quest Diagnostics from an “in-line” rating to an “outperform” rating and set a $103.00 price target on the stock in a report on Tuesday, July 10th. Finally, Credit Suisse Group raised their price target on shares of Quest Diagnostics from $121.00 to $128.00 and gave the company an “outperform” rating in a report on Monday, September 24th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Quest Diagnostics has a consensus rating of “Hold” and an average target price of $110.65.

Quest Diagnostics Profile

Quest Diagnostics Incorporated provides diagnostic testing information and services in the United States and internationally. The company's Diagnostic Information Services business segment develops and delivers diagnostic testing information and services, such as routine testing, non-routine and advanced clinical testing, gene-based and esoteric testing, anatomic pathology, and other diagnostic information services.

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Institutional Ownership by Quarter for Quest Diagnostics (NYSE:DGX)

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