Poplar Forest Capital LLC bought a new stake in Quest Diagnostics Inc (NYSE:DGX) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,720 shares of the medical research company’s stock, valued at approximately $294,000.
Several other large investors have also made changes to their positions in DGX. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Quest Diagnostics by 8,866.7% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,076 shares of the medical research company’s stock valued at $118,000 after buying an additional 1,064 shares during the last quarter. Fort L.P. purchased a new stake in shares of Quest Diagnostics in the second quarter valued at about $121,000. Capital Advisors Ltd. LLC purchased a new stake in shares of Quest Diagnostics in the third quarter valued at about $123,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Quest Diagnostics in the second quarter valued at about $126,000. Finally, Dupont Capital Management Corp raised its holdings in shares of Quest Diagnostics by 64.4% in the second quarter. Dupont Capital Management Corp now owns 1,202 shares of the medical research company’s stock valued at $132,000 after buying an additional 471 shares during the last quarter. 86.55% of the stock is owned by institutional investors and hedge funds.
DGX traded up $1.12 on Wednesday, hitting $96.60. 8,436 shares of the company were exchanged, compared to its average volume of 1,474,369. The company has a current ratio of 1.15, a quick ratio of 1.09 and a debt-to-equity ratio of 0.63. Quest Diagnostics Inc has a fifty-two week low of $90.31 and a fifty-two week high of $116.49. The firm has a market capitalization of $12.71 billion, a P/E ratio of 17.96, a PEG ratio of 1.68 and a beta of 0.90.
Quest Diagnostics (NYSE:DGX) last issued its earnings results on Tuesday, October 23rd. The medical research company reported $1.68 earnings per share for the quarter, hitting the consensus estimate of $1.68. Quest Diagnostics had a net margin of 11.30% and a return on equity of 15.71%. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same period in the prior year, the business posted $1.38 earnings per share. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. Analysts predict that Quest Diagnostics Inc will post 6.56 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 22nd. Shareholders of record on Friday, October 5th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, October 4th. This represents a $2.00 annualized dividend and a yield of 2.07%. Quest Diagnostics’s payout ratio is currently 37.04%.
A number of equities research analysts have recently commented on DGX shares. Bank of America initiated coverage on shares of Quest Diagnostics in a report on Friday, October 19th. They set a “buy” rating for the company. Evercore ISI raised shares of Quest Diagnostics from an “in-line” rating to an “outperform” rating and set a $103.00 price target for the company in a report on Tuesday, July 10th. Argus set a $106.00 price target on shares of Quest Diagnostics and gave the stock a “buy” rating in a report on Wednesday, October 24th. JPMorgan Chase & Co. cut their price target on shares of Quest Diagnostics from $114.00 to $107.00 and set a “neutral” rating for the company in a report on Wednesday, October 24th. Finally, Barclays cut their price target on shares of Quest Diagnostics from $130.00 to $125.00 and set an “overweight” rating for the company in a report on Wednesday, October 24th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $111.13.
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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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