Commonwealth Equity Services LLC reduced its stake in shares of Quest Diagnostics Inc (NYSE:DGX) by 2.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,907 shares of the medical research company’s stock after selling 402 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Quest Diagnostics were worth $1,702,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the stock. Signaturefd LLC raised its stake in shares of Quest Diagnostics by 15.9% in the 3rd quarter. Signaturefd LLC now owns 714 shares of the medical research company’s stock valued at $76,000 after buying an additional 98 shares in the last quarter. Acropolis Investment Management LLC raised its stake in shares of Quest Diagnostics by 2.2% in the 3rd quarter. Acropolis Investment Management LLC now owns 4,700 shares of the medical research company’s stock valued at $503,000 after buying an additional 100 shares in the last quarter. Berman Capital Advisors LLC raised its stake in shares of Quest Diagnostics by 47.7% in the 2nd quarter. Berman Capital Advisors LLC now owns 319 shares of the medical research company’s stock valued at $32,000 after buying an additional 103 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its stake in shares of Quest Diagnostics by 2.9% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 3,661 shares of the medical research company’s stock valued at $392,000 after buying an additional 103 shares in the last quarter. Finally, Financial Advantage Inc. raised its stake in shares of Quest Diagnostics by 0.3% in the 2nd quarter. Financial Advantage Inc. now owns 30,316 shares of the medical research company’s stock valued at $3,086,000 after buying an additional 104 shares in the last quarter. Hedge funds and other institutional investors own 88.15% of the company’s stock.
A number of equities analysts have recently issued reports on DGX shares. UBS Group dropped their price objective on shares of Quest Diagnostics from $103.00 to $102.00 and set a “neutral” rating for the company in a research note on Monday, October 21st. Canaccord Genuity reaffirmed a “buy” rating and issued a $113.00 target price on shares of Quest Diagnostics in a report on Wednesday, October 23rd. Zacks Investment Research raised shares of Quest Diagnostics from a “sell” rating to a “hold” rating and set a $111.00 target price on the stock in a report on Monday, September 30th. Morgan Stanley upped their target price on shares of Quest Diagnostics from $111.00 to $121.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Finally, Evercore ISI reaffirmed a “buy” rating and issued a $108.00 target price on shares of Quest Diagnostics in a report on Thursday, August 8th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. Quest Diagnostics currently has an average rating of “Hold” and an average price target of $106.85.
NYSE:DGX traded up $0.69 during mid-day trading on Wednesday, reaching $106.30. 747,104 shares of the company were exchanged, compared to its average volume of 1,059,376. Quest Diagnostics Inc has a 12 month low of $78.95 and a 12 month high of $108.30. The company has a fifty day moving average of $103.48 and a 200 day moving average of $102.13. The company has a quick ratio of 0.83, a current ratio of 0.88 and a debt-to-equity ratio of 0.56. The stock has a market cap of $14.23 billion, a PE ratio of 16.85, a PEG ratio of 2.24 and a beta of 0.85.
Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings data on Tuesday, October 22nd. The medical research company reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.05. Quest Diagnostics had a net margin of 9.58% and a return on equity of 15.32%. The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the firm earned $1.68 EPS. The company’s revenue was up 3.5% on a year-over-year basis. On average, equities research analysts anticipate that Quest Diagnostics Inc will post 6.49 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Tuesday, January 14th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Monday, January 13th. Quest Diagnostics’s dividend payout ratio is currently 33.60%.
In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 44,556 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $107.43, for a total transaction of $4,786,651.08. Following the transaction, the senior vice president now directly owns 51,321 shares in the company, valued at approximately $5,513,415.03. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Michael J. Deppe sold 5,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $106.00, for a total transaction of $530,000.00. Following the transaction, the chief accounting officer now owns 28,671 shares in the company, valued at $3,039,126. The disclosure for this sale can be found here. In the last three months, insiders have sold 57,556 shares of company stock worth $6,174,011. Insiders own 1.86% 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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