Meadow Creek Investment Management LLC trimmed its position in Quest Diagnostics (NYSE:DGX) by 23.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,118 shares of the medical research company’s stock after selling 19,800 shares during the quarter. Meadow Creek Investment Management LLC’s holdings in Quest Diagnostics were worth $6,217,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. acquired a new stake in Quest Diagnostics during the 4th quarter valued at approximately $118,000. Cerebellum GP LLC bought a new stake in shares of Quest Diagnostics in the 4th quarter worth approximately $128,000. Assetmark Inc. lifted its holdings in shares of Quest Diagnostics by 139.5% in the 4th quarter. Assetmark Inc. now owns 1,473 shares of the medical research company’s stock worth $145,000 after purchasing an additional 858 shares during the last quarter. Icon Wealth Partners LLC bought a new stake in shares of Quest Diagnostics in the 4th quarter worth approximately $147,000. Finally, Captrust Financial Advisors bought a new stake in shares of Quest Diagnostics in the 4th quarter worth approximately $169,000. Institutional investors own 88.63% of the company’s stock.
In related news, SVP Catherine T. Doherty sold 397 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $102.74, for a total transaction of $40,787.78. Following the transaction, the senior vice president now directly owns 71,926 shares in the company, valued at $7,389,677.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Robert A. Klug sold 1,157 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $103.66, for a total value of $119,934.62. Following the completion of the sale, the vice president now owns 5,137 shares in the company, valued at $532,501.42. The disclosure for this sale can be found here. Insiders have sold a total of 228,147 shares of company stock valued at $24,032,439 in the last three months. 1.75% of the stock is owned by insiders.
Several analysts recently issued reports on DGX shares. Credit Suisse Group raised Quest Diagnostics from a “neutral” rating to an “outperform” rating and set a $107.00 price target on the stock in a report on Tuesday, February 13th. Evercore ISI assumed coverage on Quest Diagnostics in a research note on Thursday, January 4th. They set an “in-line” rating and a $103.00 target price on the stock. Canaccord Genuity reaffirmed a “buy” rating and set a $110.00 target price on shares of Quest Diagnostics in a research note on Tuesday, January 16th. Zacks Investment Research downgraded Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. Finally, Mizuho set a $113.00 price target on Quest Diagnostics and gave the company a “buy” rating in a research report on Wednesday, January 24th. Fourteen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $108.90.
Shares of NYSE:DGX opened at $97.35 on Friday. Quest Diagnostics has a fifty-two week low of $90.10 and a fifty-two week high of $112.96. The stock has a market capitalization of $13,540.73, a price-to-earnings ratio of 18.03, a P/E/G ratio of 1.79 and a beta of 0.70. The company has a quick ratio of 1.15, a current ratio of 1.24 and a debt-to-equity ratio of 0.76.
Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings results on Thursday, February 1st. The medical research company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.03. Quest Diagnostics had a return on equity of 15.41% and a net margin of 10.00%. The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.93 billion. During the same quarter in the previous year, the firm earned $1.31 earnings per share. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. analysts predict that Quest Diagnostics will post 6.59 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 18th. Investors 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 dividend yield of 2.05%. The ex-dividend date is Tuesday, April 3rd. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.45. Quest Diagnostics’s payout ratio is currently 37.04%.
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Quest Diagnostics Company Profile
Quest Diagnostics Incorporated provides diagnostic testing information and services in the United States and internationally. The company's Diagnostic Information Services business segment develops and delivers diagnostic testing information and services, such as routine testing, non-routine and advanced clinical testing, gene-based and esoteric testing, anatomic pathology, and other diagnostic information services.
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