Investment House LLC held its position in Quest Diagnostics Inc (NYSE:DGX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,050 shares of the medical research company’s stock at the end of the second quarter. Investment House LLC’s holdings in Quest Diagnostics were worth $339,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. First American Trust FSB boosted its position in Quest Diagnostics by 0.3% in the second quarter. First American Trust FSB now owns 4,395 shares of the medical research company’s stock valued at $489,000 after buying an additional 14 shares during the period. YorkBridge Wealth Partners LLC boosted its position in Quest Diagnostics by 1.5% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,188 shares of the medical research company’s stock valued at $127,000 after buying an additional 18 shares during the period. Hills Bank & Trust Co. boosted its position in Quest Diagnostics by 1.4% in the second quarter. Hills Bank & Trust Co. now owns 2,560 shares of the medical research company’s stock valued at $285,000 after buying an additional 35 shares during the period. Leavell Investment Management Inc. boosted its position in Quest Diagnostics by 0.5% in the first quarter. Leavell Investment Management Inc. now owns 7,891 shares of the medical research company’s stock valued at $775,000 after buying an additional 41 shares during the period. Finally, HighPoint Advisor Group LLC boosted its position in Quest Diagnostics by 0.5% in the fourth quarter. HighPoint Advisor Group LLC now owns 7,914 shares of the medical research company’s stock valued at $779,000 after buying an additional 42 shares during the period. Hedge funds and other institutional investors own 90.97% of the company’s stock.
Shares of Quest Diagnostics Inc (DGX) traded up 0.46% during trading on Friday, hitting $106.10. 849,396 shares of the stock were exchanged. The firm has a market capitalization of $14.47 billion, a price-to-earnings ratio of 21.38 and a beta of 0.69. The stock’s 50 day moving average price is $108.82 and its 200 day moving average price is $103.03. Quest Diagnostics Inc has a 52 week low of $79.12 and a 52 week high of $112.97.
Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Tuesday, July 25th. The medical research company reported $1.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.42 by $0.13. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.94 billion. Quest Diagnostics had a net margin of 10.65% and a return on equity of 16.60%. Quest Diagnostics’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the business earned $1.34 EPS. On average, equities analysts predict that Quest Diagnostics Inc will post $5.70 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 24th. Shareholders of record on Monday, July 10th were paid a dividend of $0.45 per share. The ex-dividend date was Thursday, July 6th. This represents a $1.80 dividend on an annualized basis and a yield of 1.70%. Quest Diagnostics’s dividend payout ratio is currently 36.29%.
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A number of analysts recently commented on DGX shares. UBS AG restated a “buy” rating and issued a $115.00 price objective (up previously from $102.00) on shares of Quest Diagnostics in a research report on Tuesday, April 25th. Evercore ISI reaffirmed an “in-line” rating and issued a $104.50 target price on shares of Quest Diagnostics in a research note on Wednesday, June 28th. Barclays PLC reaffirmed a “hold” rating and issued a $110.00 target price on shares of Quest Diagnostics in a research note on Wednesday, July 19th. Mizuho upped their target price on shares of Quest Diagnostics from $115.00 to $122.00 and gave the stock a “buy” rating in a research note on Monday, June 5th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $118.00 target price on shares of Quest Diagnostics in a research note on Tuesday, June 13th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $109.62.
In other Quest Diagnostics news, Director Jeffrey M. Leiden sold 296 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $106.66, for a total transaction of $31,571.36. Following the completion of the sale, the director now directly owns 6,000 shares in the company, valued at approximately $639,960. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Catherine T. Doherty sold 59,762 shares of the firm’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $107.55, for a total transaction of $6,427,403.10. Following the sale, the senior vice president now owns 78,582 shares of the company’s stock, valued at $8,451,494.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 61,362 shares of company stock valued at $6,600,758. 1.50% of the stock is owned by company insiders.
Quest Diagnostics Company Profile
Quest Diagnostics Incorporated is a provider of diagnostic information services. The Company operates through two businesses: Diagnostic Information Services and Diagnostic Solutions. The Diagnostic Information Services business develops and delivers diagnostic testing information and services, providing insights that empower and enable a range of customers, including patients, clinicians, hospitals, integrated delivery networks (IDNs), health plans, employers and accountable care organizations (ACOs).
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