Toronto Dominion Bank increased its holdings in shares of Quest Diagnostics Inc (NYSE:DGX) by 11.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,040 shares of the medical research company’s stock after buying an additional 5,401 shares during the period. Toronto Dominion Bank’s holdings in Quest Diagnostics were worth $4,872,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. APG Asset Management N.V. boosted its holdings in shares of Quest Diagnostics by 156.0% in the third quarter. APG Asset Management N.V. now owns 2,683,901 shares of the medical research company’s stock valued at $251,320,000 after buying an additional 1,635,700 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Quest Diagnostics by 9,350.4% in the second quarter. Janus Henderson Group PLC now owns 1,451,774 shares of the medical research company’s stock valued at $161,379,000 after buying an additional 1,436,412 shares during the period. AJO LP lifted its position in shares of Quest Diagnostics by 137.9% in the second quarter. AJO LP now owns 2,134,245 shares of the medical research company’s stock worth $237,243,000 after purchasing an additional 1,237,021 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of Quest Diagnostics by 316.2% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,043,889 shares of the medical research company’s stock worth $116,035,000 after purchasing an additional 793,085 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Quest Diagnostics by 3.9% in the second quarter. Vanguard Group Inc. now owns 14,029,322 shares of the medical research company’s stock worth $1,559,500,000 after purchasing an additional 525,200 shares in the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.
Several analysts have issued reports on DGX shares. Jefferies Group set a $98.00 price target on shares of Quest Diagnostics and gave the stock a “hold” rating in a research report on Saturday, November 25th. Zacks Investment Research raised shares of Quest Diagnostics from a “sell” rating to a “hold” rating in a research report on Monday, November 6th. KeyCorp reissued a “hold” rating on shares of Quest Diagnostics in a research report on Friday, October 27th. Canaccord Genuity increased their price objective on shares of Quest Diagnostics from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, October 26th. Finally, Wells Fargo & Company dropped their price objective on shares of Quest Diagnostics from $88.00 to $86.00 and set a “market perform” rating on the stock in a research report on Friday, October 20th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $106.28.
In other Quest Diagnostics news, Director Daniel Stanzione sold 3,803 shares of Quest Diagnostics stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $108.01, for a total transaction of $410,762.03. Following the transaction, the director now directly owns 35,359 shares of the company’s stock, valued at approximately $3,819,125.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Stephen H. Rusckowski sold 59,235 shares of Quest Diagnostics stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $108.16, for a total transaction of $6,406,857.60. Following the transaction, the chairman now directly owns 220,049 shares in the company, valued at $23,800,499.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 160,396 shares of company stock valued at $17,343,852. Company insiders own 1.75% of the company’s stock.
Shares of Quest Diagnostics Inc (DGX) traded up $1.03 during midday trading on Monday, reaching $100.24. 2,135,807 shares of the company were exchanged, compared to its average volume of 1,019,236. The company has a market cap of $13,660.00, a price-to-earnings ratio of 17.78, a PEG ratio of 2.07 and a beta of 0.60. Quest Diagnostics Inc has a 1-year low of $87.58 and a 1-year high of $112.96. The company has a current ratio of 1.47, a quick ratio of 1.37 and a debt-to-equity ratio of 0.78.
Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings data on Thursday, October 19th. The medical research company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.04. Quest Diagnostics had a net margin of 8.82% and a return on equity of 15.53%. The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same quarter last year, the business earned $1.37 EPS. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. analysts predict that Quest Diagnostics Inc will post 5.65 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Tuesday, January 9th will be issued a dividend of $0.45 per share. The ex-dividend date is Monday, January 8th. This represents a $1.80 annualized dividend and a yield of 1.80%. Quest Diagnostics’s payout ratio is 37.50%.
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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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