Investors sold shares of Quest Diagnostics Incorporated (NYSE:DGX) on strength during trading on Friday. $15.85 million flowed into the stock on the tick-up and $95.97 million flowed out of the stock on the tick-down, for a money net flow of $80.12 million out of the stock. Of all stocks tracked, Quest Diagnostics had the 0th highest net out-flow for the day. Quest Diagnostics traded up $0.10 for the day and closed at $93.04
Several research analysts have recently issued reports on DGX shares. Wells Fargo & Company started coverage on shares of Quest Diagnostics in a report on Thursday, October 12th. They issued a “market perform” rating and a $88.00 target price for the company. Raymond James Financial, Inc. restated a “market perform” rating on shares of Quest Diagnostics in a report on Monday, September 25th. BidaskClub cut shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Bank of America Corporation upgraded shares of Quest Diagnostics from a “neutral” rating to a “buy” rating and upped their target price for the company from $111.00 to $118.00 in a report on Tuesday, July 25th. Finally, Goldman Sachs Group, Inc. (The) cut shares of Quest Diagnostics from a “conviction-buy” rating to a “buy” rating and decreased their price target for the stock from $121.00 to $113.00 in a research note on Tuesday, October 10th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $106.18.
The firm has a market capitalization of $12,681.26, a PE ratio of 16.67, a P/E/G ratio of 1.94 and a beta of 0.59. The company has a quick ratio of 1.37, a current ratio of 1.47 and a debt-to-equity ratio of 0.78.
Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings data on Thursday, October 19th. The medical research company reported $1.39 EPS for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.04. The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.92 billion. Quest Diagnostics had a net margin of 8.82% and a return on equity of 15.53%. Quest Diagnostics’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.37 EPS. equities research analysts predict that Quest Diagnostics Incorporated will post 5.65 earnings per share for the current year.
In other news, Chairman Stephen H. Rusckowski sold 59,235 shares of the stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $108.16, for a total value of $6,406,857.60. Following the completion of the transaction, the chairman now owns 220,049 shares in the company, valued at approximately $23,800,499.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel Stanzione sold 3,803 shares of the stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $108.01, for a total transaction of $410,762.03. Following the completion of the transaction, the director now owns 35,359 shares of the company’s stock, valued at approximately $3,819,125.59. The disclosure for this sale can be found here. Insiders sold a total of 160,396 shares of company stock valued at $17,343,852 in the last quarter. Insiders own 1.75% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Schnieders Capital Management LLC increased its holdings in shares of Quest Diagnostics by 0.3% in the 2nd quarter. Schnieders Capital Management LLC now owns 2,366 shares of the medical research company’s stock valued at $263,000 after purchasing an additional 6 shares in the last quarter. Parallel Advisors LLC grew its stake in Quest Diagnostics by 0.9% in the 2nd quarter. Parallel Advisors LLC now owns 1,291 shares of the medical research company’s stock valued at $140,000 after acquiring an additional 12 shares during the last quarter. Ferguson Wellman Capital Management Inc. grew its stake in Quest Diagnostics by 0.9% in the 2nd quarter. Ferguson Wellman Capital Management Inc. now owns 4,300 shares of the medical research company’s stock valued at $478,000 after acquiring an additional 40 shares during the last quarter. Regentatlantic Capital LLC grew its stake in Quest Diagnostics by 0.6% in the 2nd quarter. Regentatlantic Capital LLC now owns 9,257 shares of the medical research company’s stock valued at $1,029,000 after acquiring an additional 56 shares during the last quarter. Finally, Advisor Partners LLC grew its stake in Quest Diagnostics by 2.8% in the 2nd quarter. Advisor Partners LLC now owns 2,601 shares of the medical research company’s stock valued at $289,000 after acquiring an additional 72 shares during the last quarter. Institutional investors and hedge funds own 88.18% of the company’s stock.
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Quest Diagnostics Company Profile
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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