State of Tennessee Treasury Department lowered its holdings in Quest Diagnostics Inc (NYSE:DGX) by 92.6% in the first quarter, HoldingsChannel.com reports. The firm owned 33,596 shares of the medical research company’s stock after selling 417,666 shares during the period. State of Tennessee Treasury Department’s holdings in Quest Diagnostics were worth $3,021,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. ETF Managers Group LLC grew its position in Quest Diagnostics by 9.2% during the first quarter. ETF Managers Group LLC now owns 1,443 shares of the medical research company’s stock valued at $130,000 after acquiring an additional 121 shares during the period. Financial Advantage Inc. grew its position in Quest Diagnostics by 0.4% during the first quarter. Financial Advantage Inc. now owns 30,212 shares of the medical research company’s stock valued at $2,716,000 after acquiring an additional 128 shares during the period. LS Investment Advisors LLC grew its position in Quest Diagnostics by 2.2% during the first quarter. LS Investment Advisors LLC now owns 6,296 shares of the medical research company’s stock valued at $566,000 after acquiring an additional 138 shares during the period. Tdam USA Inc. grew its position in Quest Diagnostics by 2.1% during the first quarter. Tdam USA Inc. now owns 7,385 shares of the medical research company’s stock valued at $664,000 after acquiring an additional 149 shares during the period. Finally, River Wealth Advisors LLC grew its position in Quest Diagnostics by 4.0% during the first quarter. River Wealth Advisors LLC now owns 3,863 shares of the medical research company’s stock valued at $347,000 after acquiring an additional 150 shares during the period. 91.67% of the stock is owned by institutional investors and hedge funds.
Shares of DGX opened at $101.03 on Friday. The stock has a market cap of $13.55 billion, a price-to-earnings ratio of 16.01, a P/E/G ratio of 2.32 and a beta of 0.85. Quest Diagnostics Inc has a 12 month low of $78.95 and a 12 month high of $116.49. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.74 and a current ratio of 0.78.
Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings data on Tuesday, April 23rd. The medical research company reported $1.40 EPS for the quarter, topping the Zacks’ consensus estimate of $1.36 by $0.04. The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Quest Diagnostics had a return on equity of 14.99% and a net margin of 9.59%. The firm’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $152.00 earnings per share. As a group, equities research analysts predict that Quest Diagnostics Inc will post 6.48 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 22nd. Shareholders of record on Monday, July 8th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Friday, July 5th. Quest Diagnostics’s dividend payout ratio is presently 33.60%.
In related news, EVP J. E. Davis sold 8,000 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $90.29, for a total value of $722,320.00. Following the transaction, the executive vice president now owns 38,634 shares in the company, valued at $3,488,263.86. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP J. E. Davis sold 47,574 shares of the business’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $95.00, for a total value of $4,519,530.00. Following the completion of the transaction, the executive vice president now owns 84,108 shares in the company, valued at approximately $7,990,260. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 121,956 shares of company stock worth $11,255,395. 1.86% of the stock is currently owned by insiders.
A number of equities research analysts have issued reports on the company. Zacks Investment Research raised Quest Diagnostics from a “hold” rating to a “buy” rating and set a $102.00 price target for the company in a research report on Wednesday, May 29th. Mizuho set a $110.00 price target on Quest Diagnostics and gave the company a “buy” rating in a research report on Monday, May 20th. ValuEngine raised Quest Diagnostics from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th. Credit Suisse Group lowered their price target on Quest Diagnostics from $103.00 to $101.00 and set an “outperform” rating for the company in a research report on Tuesday, February 19th. Finally, UBS Group set a $91.00 price target on Quest Diagnostics and gave the company a “hold” rating in a research report on Friday, February 15th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $102.12.
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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 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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