American Century Companies Inc. increased its position in Quest Diagnostics Inc (NYSE:DGX) by 38.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,109,526 shares of the medical research company’s stock after purchasing an additional 1,147,470 shares during the quarter. American Century Companies Inc.’s holdings in Quest Diagnostics were worth $443,459,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of DGX. Allianz Asset Management GmbH lifted its position in Quest Diagnostics by 8.3% in the first quarter. Allianz Asset Management GmbH now owns 2,326,398 shares of the medical research company’s stock worth $233,338,000 after purchasing an additional 178,041 shares during the period. LPL Financial LLC lifted its position in Quest Diagnostics by 112.7% in the first quarter. LPL Financial LLC now owns 11,718 shares of the medical research company’s stock worth $1,175,000 after purchasing an additional 6,208 shares during the period. Principal Financial Group Inc. lifted its position in Quest Diagnostics by 23.1% in the first quarter. Principal Financial Group Inc. now owns 436,117 shares of the medical research company’s stock worth $43,743,000 after purchasing an additional 81,936 shares during the period. IFM Investors Pty Ltd lifted its position in Quest Diagnostics by 41.2% in the second quarter. IFM Investors Pty Ltd now owns 6,511 shares of the medical research company’s stock worth $716,000 after purchasing an additional 1,900 shares during the period. Finally, State of Alaska Department of Revenue lifted its position in Quest Diagnostics by 28.4% in the second quarter. State of Alaska Department of Revenue now owns 189,135 shares of the medical research company’s stock worth $20,792,000 after purchasing an additional 41,880 shares during the period. 86.55% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently commented on DGX shares. Evercore ISI raised Quest Diagnostics from an “in-line” rating to an “outperform” rating and set a $103.00 target price for the company in a research report on Tuesday, July 10th. Argus set a $120.00 price objective on Quest Diagnostics and gave the stock a “buy” rating in a research note on Friday, September 14th. Credit Suisse Group increased their price objective on Quest Diagnostics from $121.00 to $128.00 and gave the stock an “outperform” rating in a research note on Monday, September 24th. Bank of America assumed coverage on Quest Diagnostics in a research note on Friday, October 19th. They set a “buy” rating for the company. Finally, JPMorgan Chase & Co. dropped their price objective on Quest Diagnostics from $114.00 to $107.00 and set a “neutral” rating for the company in a research note on Wednesday, October 24th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $111.13.
Quest Diagnostics stock opened at $94.05 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.15 and a quick ratio of 1.09. Quest Diagnostics Inc has a 52-week low of $90.31 and a 52-week high of $116.49. The firm has a market cap of $12.71 billion, a price-to-earnings ratio of 17.42, a P/E/G ratio of 1.68 and a beta of 0.90.
Quest Diagnostics (NYSE:DGX) last announced its earnings results on Tuesday, October 23rd. The medical research company reported $1.68 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.68. Quest Diagnostics had a return on equity of 15.71% and a net margin of 11.30%. The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.95 billion. During the same period last year, the company posted $1.38 earnings per share. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. Equities analysts anticipate that Quest Diagnostics Inc will post 6.56 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 22nd. Stockholders of record on Friday, October 5th were paid a $0.50 dividend. The ex-dividend date was Thursday, October 4th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.13%. Quest Diagnostics’s dividend payout ratio (DPR) is presently 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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