Sawyer & Company Inc purchased a new position in Quest Diagnostics Inc (NYSE:DGX) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,040 shares of the medical research company’s stock, valued at approximately $595,000.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Pacer Advisors Inc. lifted its position in shares of Quest Diagnostics by 8.1% during the second quarter. Pacer Advisors Inc. now owns 2,710 shares of the medical research company’s stock worth $301,000 after purchasing an additional 203 shares during the last quarter. Neuberger Berman Group LLC increased its stake in shares of Quest Diagnostics by 0.5% during the second quarter. Neuberger Berman Group LLC now owns 37,282 shares of the medical research company’s stock valued at $4,144,000 after buying an additional 189 shares during the period. Chicago Equity Partners LLC increased its stake in shares of Quest Diagnostics by 23.5% during the second quarter. Chicago Equity Partners LLC now owns 3,335 shares of the medical research company’s stock valued at $371,000 after buying an additional 635 shares during the period. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Quest Diagnostics during the second quarter valued at $278,000. Finally, Engineers Gate Manager LP purchased a new position in shares of Quest Diagnostics during the second quarter valued at $743,000. Institutional investors own 88.89% of the company’s stock.
In other news, EVP J. E. Davis sold 63,880 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $98.68, for a total value of $6,303,678.40. Following the transaction, 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 filing with the SEC, which is accessible through the SEC website. Also, SVP Catherine T. Doherty sold 21,294 shares of the company’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $104.00, for a total value of $2,214,576.00. Following the completion of the transaction, the senior vice president now directly owns 90,709 shares in the company, valued at approximately $9,433,736. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 192,014 shares of company stock valued at $19,950,134. 1.75% of the stock is owned by company insiders.
Quest Diagnostics Inc (NYSE DGX) opened at $103.11 on Friday. 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 52 week low of $90.10 and a 52 week high of $112.96. The firm has a market capitalization of $14,050.00, a P/E ratio of 18.75, a PEG ratio of 2.04 and a beta of 0.67.
Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Thursday, February 1st. The medical research company reported $1.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.37 by $0.03. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.93 billion. Quest Diagnostics had a return on equity of 15.53% and a net margin of 8.82%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.31 earnings per share. research analysts anticipate that Quest Diagnostics Inc will post 5.65 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 18th. Shareholders of record on Wednesday, April 4th will be issued a $0.50 dividend. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 1.94%. The ex-dividend date is Tuesday, April 3rd. Quest Diagnostics’s dividend payout ratio is presently 32.73%.
DGX has been the topic of several research reports. KeyCorp restated a “hold” rating on shares of Quest Diagnostics in a research note on Friday, October 27th. Wells Fargo & Co cut their target price on Quest Diagnostics from $88.00 to $86.00 and set a “market perform” rating on the stock in a research note on Friday, October 20th. Canaccord Genuity lifted their target price on Quest Diagnostics from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. Goldman Sachs Group lowered Quest Diagnostics from a “conviction-buy” rating to a “buy” rating and cut their target price for the company from $121.00 to $113.00 in a research note on Tuesday, October 10th. Finally, Citigroup dropped their price target on Quest Diagnostics from $110.00 to $98.00 and set a “neutral” rating on the stock in a research note on Friday, October 20th. One equities 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’s stock. The company presently has an average rating of “Hold” and an average target price of $107.70.
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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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