The Manufacturers Life Insurance Company raised its holdings in shares of Quest Diagnostics Inc (NYSE:DGX) by 2.2% during the first quarter, HoldingsChannel.com reports. The firm owned 144,838 shares of the medical research company’s stock after acquiring an additional 3,061 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Quest Diagnostics were worth $14,526,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Wagner Wealth Management LLC bought a new stake in shares of Quest Diagnostics in the 4th quarter valued at about $106,000. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Quest Diagnostics in the 4th quarter valued at about $118,000. Optimum Investment Advisors bought a new stake in shares of Quest Diagnostics in the 1st quarter valued at about $130,000. Assetmark Inc. increased its stake 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 valued at $145,000 after acquiring an additional 858 shares during the last quarter. Finally, Icon Wealth Partners LLC bought a new stake in shares of Quest Diagnostics in the 4th quarter valued at about $147,000. Institutional investors own 87.34% of the company’s stock.
A number of analysts have recently commented on the company. Robert W. Baird raised Quest Diagnostics from a “neutral” rating to an “outperform” rating and set a $115.00 price target for the company in a research note on Tuesday, May 1st. Barclays reaffirmed a “hold” rating and issued a $120.00 price target on shares of Quest Diagnostics in a research note on Monday, May 28th. Credit Suisse Group upped their price target on Quest Diagnostics from $118.00 to $121.00 and gave the company an “outperform” rating in a research note on Friday, May 25th. Zacks Investment Research raised Quest Diagnostics from a “hold” rating to a “buy” rating and set a $113.00 price target for the company in a research note on Wednesday, April 18th. Finally, Mizuho reaffirmed a “buy” rating on shares of Quest Diagnostics in a research note on Friday, May 25th. Thirteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Quest Diagnostics currently has an average rating of “Hold” and an average target price of $110.72.
In other news, Chairman Stephen H. Rusckowski sold 168,490 shares of the firm’s stock in a transaction that occurred on Friday, May 25th. The shares were sold at an average price of $107.00, for a total transaction of $18,028,430.00. Following the completion of the transaction, the chairman now directly owns 359,559 shares of the company’s stock, valued at approximately $38,472,813. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey M. Leiden sold 1,644 shares of the firm’s stock in a transaction that occurred on Tuesday, May 29th. The stock was sold at an average price of $105.61, for a total transaction of $173,622.84. Following the transaction, the director now directly owns 6,000 shares of the company’s stock, valued at $633,660. The disclosure for this sale can be found here. Insiders have sold a total of 231,667 shares of company stock valued at $24,706,706 over the last ninety days. Company insiders own 1.79% of the company’s stock.
Quest Diagnostics opened at $112.04 on Monday, according to Marketbeat Ratings. 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 0.73, a current ratio of 1.23 and a quick ratio of 1.14. The company has a market cap of $15.22 billion, a P/E ratio of 20.75, a price-to-earnings-growth ratio of 2.21 and a beta of 0.70.
Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Thursday, April 19th. The medical research company reported $1.52 earnings per share for the quarter, hitting the consensus estimate of $1.52. The company had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Quest Diagnostics had a net margin of 10.19% and a return on equity of 15.44%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period last year, the business earned $1.33 EPS. sell-side analysts expect that Quest Diagnostics Inc will post 6.61 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 23rd. Stockholders of record on Monday, July 9th will be paid a dividend of $0.50 per share. The ex-dividend date is Friday, July 6th. This represents a $2.00 annualized dividend and a dividend yield of 1.79%. Quest Diagnostics’s dividend payout ratio is currently 37.04%.
Quest Diagnostics 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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