Cornercap Investment Counsel Inc. boosted its position in Quest Diagnostics Inc (NYSE:DGX) by 12.8% during the first quarter, HoldingsChannel.com reports. The fund owned 20,005 shares of the medical research company’s stock after buying an additional 2,269 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Quest Diagnostics were worth $1,606,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Orion Portfolio Solutions LLC bought a new position in Quest Diagnostics in the fourth quarter valued at approximately $27,000. IFP Advisors Inc increased its stake in Quest Diagnostics by 92.6% in the fourth quarter. IFP Advisors Inc now owns 262 shares of the medical research company’s stock valued at $27,000 after acquiring an additional 126 shares during the last quarter. Procyon Private Wealth Partners LLC bought a new position in Quest Diagnostics in the fourth quarter valued at approximately $29,000. Ceredex Value Advisors LLC bought a new position in Quest Diagnostics in the fourth quarter valued at approximately $32,000. Finally, Valeo Financial Advisors LLC bought a new position in Quest Diagnostics in the first quarter valued at approximately $30,000. 90.37% of the stock is currently owned by institutional investors and hedge funds.
In other Quest Diagnostics news, EVP J. E. Davis sold 598 shares of Quest Diagnostics stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $112.73, for a total value of $67,412.54. Following the completion of the sale, the executive vice president now directly owns 42,052 shares of the company’s stock, valued at $4,740,521.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Catherine T. Doherty sold 405 shares of Quest Diagnostics stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $112.73, for a total transaction of $45,655.65. Following the completion of the sale, the senior vice president now directly owns 71,106 shares of the company’s stock, valued at $8,015,779.38. The disclosure for this sale can be found here. In the last 90 days, insiders sold 255,476 shares of company stock worth $28,656,119. 1.49% of the stock is owned by company insiders.
Shares of NYSE:DGX traded down $0.16 during mid-day trading on Friday, reaching $112.83. 770,390 shares of the company’s stock were exchanged, compared to its average volume of 2,048,430. The firm has a market capitalization of $15.11 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 3.23 and a beta of 1.39. The business’s fifty day moving average price is $99.72 and its 200-day moving average price is $103.30. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.27 and a current ratio of 1.38. Quest Diagnostics Inc has a twelve month low of $73.02 and a twelve month high of $125.00.
Quest Diagnostics (NYSE:DGX) last released its earnings results on Wednesday, April 22nd. The medical research company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.06. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.76 billion. Quest Diagnostics had a net margin of 10.36% and a return on equity of 14.79%. Quest Diagnostics’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.40 earnings per share. Analysts predict that Quest Diagnostics Inc will post 4.94 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 8th will be issued a $0.56 dividend. The ex-dividend date is Tuesday, July 7th. This represents a $2.24 annualized dividend and a yield of 1.99%. Quest Diagnostics’s payout ratio is 34.15%.
A number of research analysts recently issued reports on DGX shares. Robert W. Baird lifted their price objective on shares of Quest Diagnostics from $113.00 to $118.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Morgan Stanley raised their target price on shares of Quest Diagnostics from $139.00 to $146.00 and gave the company an “overweight” rating in a research report on Wednesday. Wolfe Research upgraded shares of Quest Diagnostics from an “underperform” rating to a “market perform” rating and set a $116.00 target price on the stock in a research report on Monday, April 27th. Cfra lowered shares of Quest Diagnostics from a “strong-buy” rating to a “hold” rating and cut their target price for the company from $140.00 to $106.00 in a research report on Wednesday, April 22nd. Finally, ValuEngine upgraded shares of Quest Diagnostics from a “sell” rating to a “hold” rating in a research report on Tuesday, March 3rd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $111.28.
Quest Diagnostics Company Profile
Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic testing information and services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.
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