Sit Investment Associates Inc. lessened its holdings in shares of Quest Diagnostics Inc (NYSE:DGX) by 49.7% during the 1st quarter, HoldingsChannel reports. The fund owned 82,400 shares of the medical research company’s stock after selling 81,275 shares during the period. Sit Investment Associates Inc.’s holdings in Quest Diagnostics were worth $7,409,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of DGX. Boston Partners raised its position in Quest Diagnostics by 6,691.4% during the first quarter. Boston Partners now owns 3,033,915 shares of the medical research company’s stock valued at $272,811,000 after acquiring an additional 2,989,242 shares in the last quarter. Norges Bank bought a new position in Quest Diagnostics during the fourth quarter valued at approximately $115,526,000. Amundi Pioneer Asset Management Inc. raised its position in Quest Diagnostics by 587.1% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 1,362,204 shares of the medical research company’s stock valued at $122,489,000 after acquiring an additional 1,163,946 shares in the last quarter. American Century Companies Inc. raised its position in shares of Quest Diagnostics by 27.4% in the fourth quarter. American Century Companies Inc. now owns 5,237,528 shares of the medical research company’s stock valued at $436,129,000 after purchasing an additional 1,128,002 shares during the period. Finally, Macquarie Group Ltd. raised its position in shares of Quest Diagnostics by 14.9% in the fourth quarter. Macquarie Group Ltd. now owns 7,708,550 shares of the medical research company’s stock valued at $641,888,000 after purchasing an additional 1,000,318 shares during the period. 91.67% of the stock is currently owned by hedge funds and other institutional investors.
In other Quest Diagnostics news, EVP J. E. Davis sold 47,574 shares of Quest Diagnostics stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $95.00, for a total transaction of $4,519,530.00. Following the sale, the executive vice president now owns 84,108 shares in the company, valued at $7,990,260. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP J. E. Davis sold 8,000 shares of Quest Diagnostics stock in a transaction on Monday, April 8th. The stock was sold at an average price of $90.29, for a total transaction of $722,320.00. Following the sale, the executive vice president now owns 38,634 shares in the company, valued at approximately $3,488,263.86. The disclosure for this sale can be found here. Insiders have sold 121,956 shares of company stock worth $11,255,395 in the last ninety days. 1.86% of the stock is currently owned by insiders.
DGX stock traded up $0.50 on Friday, reaching $101.36. 6,167 shares of the company were exchanged, compared to its average volume of 884,441. Quest Diagnostics Inc has a 12 month low of $78.95 and a 12 month high of $116.49. The firm has a market capitalization of $13.37 billion, a P/E ratio of 16.03, a price-to-earnings-growth ratio of 2.29 and a beta of 0.85. The company has a current ratio of 0.78, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59.
Quest Diagnostics (NYSE:DGX) last announced its earnings results on Tuesday, April 23rd. The medical research company reported $1.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.36 by $0.04. Quest Diagnostics had a net margin of 9.59% and a return on equity of 14.99%. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the previous year, the firm posted $152.00 earnings per share. Quest Diagnostics’s revenue was up .4% compared to the same quarter last year. Equities research analysts anticipate that Quest Diagnostics Inc will post 6.48 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 22nd. Investors of record on Monday, July 8th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Friday, July 5th. Quest Diagnostics’s dividend payout ratio (DPR) is currently 33.60%.
A number of research firms have recently commented on DGX. Canaccord Genuity lifted their price target on shares of Quest Diagnostics from $97.00 to $103.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Citigroup lifted their price target on shares of Quest Diagnostics from $93.00 to $102.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. UBS Group lifted their price target on shares of Quest Diagnostics from $91.00 to $99.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Morgan Stanley lifted their price target on shares of Quest Diagnostics from $98.00 to $104.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Finally, Mizuho set a $110.00 price target on shares of Quest Diagnostics and gave the company a “buy” rating in a research report on Monday, May 20th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company. Quest Diagnostics presently has an average rating of “Hold” and an average price target of $102.12.
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Quest Diagnostics Profile
Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic testing information and services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.
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