Fort L.P. reduced its position in shares of Quest Diagnostics Inc (NYSE:DGX) by 1.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,870 shares of the medical research company’s stock after selling 464 shares during the period. Fort L.P.’s holdings in Quest Diagnostics were worth $2,077,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Fiduciary Management Inc. WI raised its holdings in Quest Diagnostics by 1.5% in the first quarter. Fiduciary Management Inc. WI now owns 4,658,167 shares of the medical research company’s stock valued at $374,051,000 after acquiring an additional 68,125 shares in the last quarter. Legal & General Group Plc raised its holdings in Quest Diagnostics by 6.1% during the first quarter. Legal & General Group Plc now owns 1,251,922 shares of the medical research company’s stock worth $100,635,000 after purchasing an additional 72,417 shares in the last quarter. Aviva PLC increased its holdings in shares of Quest Diagnostics by 39.4% in the 1st quarter. Aviva PLC now owns 90,544 shares of the medical research company’s stock valued at $7,271,000 after acquiring an additional 25,590 shares during the period. Deutsche Bank AG increased its holdings in shares of Quest Diagnostics by 0.7% in the 1st quarter. Deutsche Bank AG now owns 320,777 shares of the medical research company’s stock valued at $25,758,000 after acquiring an additional 2,155 shares during the period. Finally, Baird Financial Group Inc. increased its holdings in shares of Quest Diagnostics by 10.5% in the 1st quarter. Baird Financial Group Inc. now owns 179,526 shares of the medical research company’s stock valued at $14,416,000 after acquiring an additional 17,004 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.
DGX traded down $2.74 on Thursday, reaching $111.57. 40,816 shares of the company’s stock were exchanged, compared to its average volume of 1,733,587. The company has a market cap of $15.29 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 2.73 and a beta of 1.39. Quest Diagnostics Inc has a twelve month low of $73.02 and a twelve month high of $125.00. The company’s 50 day moving average is $111.57 and its 200-day moving average is $104.66. 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 (NYSE:DGX) last released its quarterly earnings results on Wednesday, April 22nd. The medical research company reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.06. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Quest Diagnostics had a return on equity of 14.79% and a net margin of 10.36%. Quest Diagnostics’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.40 EPS. Sell-side analysts forecast that Quest Diagnostics Inc will post 5.62 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 8th will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Tuesday, July 7th. Quest Diagnostics’s dividend payout ratio is presently 34.15%.
A number of equities analysts recently weighed in on the stock. Citigroup upgraded shares of Quest Diagnostics from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $113.00 to $130.00 in a research report on Monday, April 27th. Wolfe Research upgraded shares of Quest Diagnostics from an “underperform” rating to a “market perform” rating and set a $116.00 price objective on the stock in a research report on Monday, April 27th. Morgan Stanley boosted their price objective on shares of Quest Diagnostics from $139.00 to $146.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 20th. Bank of America boosted their price objective on shares of Quest Diagnostics from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. Finally, Credit Suisse Group reissued a “hold” rating and issued a $100.00 target price on shares of Quest Diagnostics in a research note on Friday, April 24th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $114.37.
In other news, CEO Stephen H. Rusckowski sold 11,717 shares of the stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $112.01, for a total transaction of $1,312,421.17. Following the completion of the transaction, the chief executive officer now directly owns 249,464 shares in the company, valued at approximately $27,942,462.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP J. E. Davis sold 3,513 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $87.75, for a total value of $308,265.75. Following the transaction, the executive vice president now owns 41,399 shares of the company’s stock, valued at $3,632,762.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,230 shares of company stock valued at $2,175,787. Company insiders own 1.49% of the company’s stock.
Quest Diagnostics 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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