Oppenheimer & Co. Inc. grew its holdings in shares of Quest Diagnostics Inc (NYSE:DGX) by 1.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 59,580 shares of the medical research company’s stock after buying an additional 708 shares during the period. Oppenheimer & Co. Inc.’s holdings in Quest Diagnostics were worth $5,869,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Thrivent Financial For Lutherans raised its holdings in shares of Quest Diagnostics by 2.0% during the second quarter. Thrivent Financial For Lutherans now owns 5,200 shares of the medical research company’s stock valued at $578,000 after buying an additional 100 shares during the last quarter. WFG Advisors LP raised its holdings in shares of Quest Diagnostics by 45.3% during the second quarter. WFG Advisors LP now owns 966 shares of the medical research company’s stock valued at $107,000 after buying an additional 301 shares during the last quarter. Conning Inc. raised its holdings in shares of Quest Diagnostics by 5.1% during the fourth quarter. Conning Inc. now owns 10,583 shares of the medical research company’s stock valued at $1,042,000 after buying an additional 510 shares during the last quarter. WINTON GROUP Ltd raised its holdings in Quest Diagnostics by 1.3% during the second quarter. WINTON GROUP Ltd now owns 38,710 shares of the medical research company’s stock worth $4,303,000 after purchasing an additional 513 shares in the last quarter. Finally, US Bancorp DE raised its holdings in Quest Diagnostics by 3.0% during the fourth quarter. US Bancorp DE now owns 18,451 shares of the medical research company’s stock worth $1,817,000 after purchasing an additional 531 shares in the last quarter. 90.22% of the stock is currently owned by institutional investors.
Quest Diagnostics Inc (NYSE DGX) traded up $1.44 during midday trading on Friday, hitting $104.53. The company’s stock had a trading volume of 771,191 shares, compared to its average volume of 1,070,000. Quest Diagnostics Inc has a 52 week low of $90.10 and a 52 week high of $112.96. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.15. The company has a market capitalization of $14,250.00, a PE ratio of 16.67, a P/E/G ratio of 1.88 and a beta of 0.67.
Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings data on Thursday, February 1st. The medical research company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.03. Quest Diagnostics had a net margin of 10.00% and a return on equity of 15.41%. The firm had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.93 billion. During the same period in the previous year, the company posted $1.31 EPS. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. sell-side analysts predict that Quest Diagnostics Inc will post 6.59 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 18th. Shareholders of record on Wednesday, April 4th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.91%. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.45. The ex-dividend date is Tuesday, April 3rd. Quest Diagnostics’s payout ratio is presently 28.71%.
In other news, Chairman Stephen H. Rusckowski sold 106,840 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $107.00, for a total transaction of $11,431,880.00. Following the transaction, the chairman now directly owns 272,956 shares in the company, valued at approximately $29,206,292. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Catherine T. Doherty sold 21,294 shares of the business’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $104.00, for a total transaction of $2,214,576.00. Following the transaction, the senior vice president now owns 90,709 shares in the company, valued at $9,433,736. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 192,014 shares of company stock worth $19,950,134. Corporate insiders own 1.75% of the company’s stock.
Several brokerages recently commented on DGX. Piper Jaffray Companies reissued a “hold” rating and set a $110.00 target price on shares of Quest Diagnostics in a report on Thursday, February 1st. Mizuho set a $113.00 target price on Quest Diagnostics and gave the stock a “buy” rating in a report on Wednesday, January 24th. 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 report on Tuesday, February 6th. Goldman Sachs Group began coverage on Quest Diagnostics in a report on Monday, January 29th. They set a “buy” rating and a $117.00 target price on the stock. Finally, Jefferies Group set a $98.00 target price on Quest Diagnostics and gave the stock a “hold” rating in a report on Saturday, November 25th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the company’s stock. Quest Diagnostics 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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