QS Investors LLC decreased its position in Quest Diagnostics Inc (NYSE:DGX) by 7.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,463 shares of the medical research company’s stock after selling 962 shares during the quarter. QS Investors LLC’s holdings in Quest Diagnostics were worth $1,038,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Legacy Financial Advisors Inc. purchased a new position in shares of Quest Diagnostics during the fourth quarter valued at about $45,000. Benjamin F. Edwards & Company Inc. increased its position in shares of Quest Diagnostics by 32.7% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 544 shares of the medical research company’s stock valued at $45,000 after buying an additional 134 shares during the period. Doyle Wealth Management purchased a new position in shares of Quest Diagnostics during the fourth quarter valued at about $48,000. Spectrum Management Group Inc. purchased a new position in shares of Quest Diagnostics during the fourth quarter valued at about $58,000. Finally, Pearl River Capital LLC purchased a new position in shares of Quest Diagnostics during the fourth quarter valued at about $60,000. Hedge funds and other institutional investors own 89.03% of the company’s stock.
Several equities analysts recently issued reports on DGX shares. Morgan Stanley set a $101.00 price target on shares of Quest Diagnostics and gave the company a “buy” rating in a research report on Thursday, December 20th. Credit Suisse Group reiterated a “buy” rating and set a $121.00 price target on shares of Quest Diagnostics in a research report on Sunday, December 2nd. Canaccord Genuity reiterated a “buy” rating and set a $98.00 price target on shares of Quest Diagnostics in a research report on Friday, November 30th. Barclays reiterated a “buy” rating and set a $114.00 price target on shares of Quest Diagnostics in a research report on Friday, February 15th. Finally, Mizuho set a $106.00 price objective on shares of Quest Diagnostics and gave the stock a “buy” rating in a report on Friday, February 15th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the stock. Quest Diagnostics has an average rating of “Hold” and a consensus target price of $102.24.
In other news, Director Gail R. Wilensky sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $87.78, for a total value of $702,240.00. Following the transaction, the director now owns 34,604 shares in the company, valued at $3,037,539.12. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Everett Cunningham sold 1,496 shares of the company’s stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $86.64, for a total transaction of $129,613.44. Following the completion of the transaction, the senior vice president now owns 39,755 shares in the company, valued at approximately $3,444,373.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,724 shares of company stock worth $1,199,363. Insiders own 1.79% of the company’s stock.
Shares of DGX opened at $89.62 on Friday. The stock has a market capitalization of $11.90 billion, a price-to-earnings ratio of 14.20, a price-to-earnings-growth ratio of 2.08 and a beta of 0.89. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.87 and a current ratio of 0.94. Quest Diagnostics Inc has a fifty-two week low of $78.95 and a fifty-two week high of $116.49.
Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings data on Thursday, February 14th. The medical research company reported $1.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.37 by ($0.01). The business had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.88 billion. Quest Diagnostics had a return on equity of 15.23% and a net margin of 9.77%. Quest Diagnostics’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.40 EPS. As a group, equities analysts predict that Quest Diagnostics Inc will post 6.45 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 22nd. Stockholders of record on Monday, April 8th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Friday, April 5th. This represents a $2.12 annualized dividend and a dividend yield of 2.37%. Quest Diagnostics’s dividend payout ratio is presently 33.60%.
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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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