Sumitomo Mitsui Asset Management Company LTD grew its holdings in Quest Diagnostics Inc (NYSE:DGX) by 311.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 45,215 shares of the medical research company’s stock after purchasing an additional 34,227 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in Quest Diagnostics were worth $4,453,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of DGX. WFG Advisors LP grew its position in shares of Quest Diagnostics by 45.3% in the second quarter. WFG Advisors LP now owns 966 shares of the medical research company’s stock valued at $107,000 after purchasing an additional 301 shares during the last quarter. Sun Life Financial INC grew its position in shares of Quest Diagnostics by 14,142.9% in the second quarter. Sun Life Financial INC now owns 997 shares of the medical research company’s stock valued at $111,000 after purchasing an additional 990 shares during the last quarter. Cerebellum GP LLC acquired a new stake in shares of Quest Diagnostics in the fourth quarter valued at about $128,000. Cubist Systematic Strategies LLC acquired a new stake in Quest Diagnostics during the second quarter worth about $180,000. Finally, Parametrica Management Ltd acquired a new stake in Quest Diagnostics during the third quarter worth about $206,000. 90.22% of the stock is currently owned by institutional investors.
In other news, Chairman Stephen H. Rusckowski sold 106,840 shares of Quest Diagnostics stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $107.00, for a total value of $11,431,880.00. Following the completion of the transaction, the chairman now owns 272,956 shares in the company, valued at $29,206,292. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP J. E. Davis sold 63,880 shares of Quest Diagnostics stock in a transaction that occurred on 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 transaction, the executive vice president now owns 101,423 shares of the company’s stock, valued at approximately $10,008,421.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 192,014 shares of company stock valued at $19,950,134. Corporate insiders own 1.75% of the company’s stock.
Quest Diagnostics Inc (NYSE:DGX) opened at $99.07 on Tuesday. The company has a market cap of $13,500.00, a PE ratio of 18.01, a price-to-earnings-growth ratio of 1.77 and a beta of 0.67. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.15 and a current ratio of 1.24. Quest Diagnostics Inc has a one year low of $90.10 and a one year high of $112.96.
Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings results on Thursday, February 1st. The medical research company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 10.00% and a return on equity of 15.41%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.31 earnings per share. equities analysts expect that Quest Diagnostics Inc will post 6.59 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 18th. Shareholders of record on Wednesday, April 4th will be paid a dividend of $0.50 per share. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Tuesday, April 3rd. This represents a $2.00 dividend on an annualized basis and a yield of 2.02%. Quest Diagnostics’s dividend payout ratio (DPR) is currently 32.73%.
A number of research firms recently weighed in on DGX. Zacks Investment Research raised Quest Diagnostics from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a research report on Tuesday, February 6th. Piper Jaffray Companies reissued a “hold” rating and set a $110.00 target price on shares of Quest Diagnostics in a research report on Thursday, February 1st. Goldman Sachs Group began coverage on Quest Diagnostics in a research report on Monday, January 29th. They set a “buy” rating and a $117.00 target price on the stock. Credit Suisse Group began coverage on Quest Diagnostics in a research report on Friday, February 2nd. They set a “neutral” rating and a $107.00 target price on the stock. Finally, Mizuho set a $103.00 target price on Quest Diagnostics and gave the stock a “buy” rating in a research report on Thursday, October 19th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $107.40.
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Quest Diagnostics 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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