Livforsakringsbolaget Skandia Omsesidigt reduced its holdings in Quest Diagnostics Inc (NYSE:DGX) by 6.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 59,835 shares of the medical research company’s stock after selling 4,300 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Quest Diagnostics were worth $5,893,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. APG Asset Management N.V. increased its stake in shares of Quest Diagnostics by 156.0% during the 3rd quarter. APG Asset Management N.V. now owns 2,683,901 shares of the medical research company’s stock worth $251,320,000 after purchasing an additional 1,635,700 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of Quest Diagnostics by 9,350.4% during the 2nd quarter. Janus Henderson Group PLC now owns 1,451,774 shares of the medical research company’s stock worth $161,379,000 after purchasing an additional 1,436,412 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Quest Diagnostics by 3.9% during the 2nd 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 during the last quarter. FMR LLC increased its stake in shares of Quest Diagnostics by 62.2% during the 2nd quarter. FMR LLC now owns 1,232,272 shares of the medical research company’s stock worth $136,978,000 after purchasing an additional 472,661 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Quest Diagnostics by 21.7% during the 3rd quarter. Victory Capital Management Inc. now owns 1,926,757 shares of the medical research company’s stock worth $180,422,000 after purchasing an additional 343,399 shares during the last quarter. Hedge funds and other institutional investors own 88.92% of the company’s stock.
Shares of Quest Diagnostics Inc (NYSE:DGX) opened at $101.49 on Thursday. The company has a market cap of $13,796.22, a PE ratio of 21.28, a P/E/G ratio of 2.00 and a beta of 0.60. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.37 and a current ratio of 1.47. Quest Diagnostics Inc has a twelve month low of $90.10 and a twelve month high of $112.96.
Quest Diagnostics (NYSE:DGX) last announced its earnings results on Thursday, October 19th. The medical research company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.35 by $0.04. The business 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 revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.37 EPS. analysts forecast that Quest Diagnostics Inc will post 5.65 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Tuesday, January 9th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.77%. The ex-dividend date is Monday, January 8th. Quest Diagnostics’s payout ratio is 37.74%.
Several research analysts have recently weighed in on the stock. Raymond James Financial restated a “market perform” rating on shares of Quest Diagnostics in a research note on Monday, September 25th. Canaccord Genuity restated a “buy” rating and set a $110.00 price objective on shares of Quest Diagnostics in a research note on Tuesday. Evercore ISI assumed coverage on shares of Quest Diagnostics in a research note on Thursday, January 4th. They set an “in-line” rating and a $103.00 price objective on the stock. KeyCorp restated a “hold” rating on shares of Quest Diagnostics in a research note on Friday, October 27th. Finally, Zacks Investment Research lowered shares of Quest Diagnostics from a “hold” rating to a “sell” rating in a research note on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $106.45.
In related news, EVP J. E. Davis sold 63,880 shares of Quest Diagnostics stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $98.68, for a total transaction of $6,303,678.40. Following the completion of the sale, the executive vice president now owns 101,423 shares of the company’s stock, valued at approximately $10,008,421.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.75% 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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