Stratos Wealth Partners LTD. bought a new stake in Quest Diagnostics Inc (NYSE:DGX) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,801 shares of the medical research company’s stock, valued at approximately $200,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of Quest Diagnostics by 2,638.3% in the first quarter. BlackRock Inc. now owns 15,362,418 shares of the medical research company’s stock valued at $1,508,435,000 after buying an additional 14,801,397 shares during the last quarter. MARSHALL WACE ASIA Ltd bought a new stake in Quest Diagnostics during the first quarter worth about $74,201,000. Marshall Wace North America L.P. bought a new stake in Quest Diagnostics during the first quarter worth about $74,201,000. Renaissance Technologies LLC raised its stake in Quest Diagnostics by 755.2% in the first quarter. Renaissance Technologies LLC now owns 503,700 shares of the medical research company’s stock worth $49,458,000 after buying an additional 444,800 shares during the period. Finally, Janus Capital Management LLC raised its stake in Quest Diagnostics by 34.2% in the first quarter. Janus Capital Management LLC now owns 1,339,007 shares of the medical research company’s stock worth $131,477,000 after buying an additional 341,476 shares during the period. Institutional investors own 90.97% of the company’s stock.
Quest Diagnostics Inc (DGX) opened at 106.10 on Friday. The company has a market cap of $14.47 billion, a price-to-earnings ratio of 21.38 and a beta of 0.69. The company’s 50-day moving average is $108.82 and its 200 day moving average is $103.03. Quest Diagnostics Inc has a 12 month low of $79.12 and a 12 month high of $112.97.
Quest Diagnostics (NYSE:DGX) last released its quarterly earnings results on Tuesday, July 25th. The medical research company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.13. Quest Diagnostics had a return on equity of 16.60% and a net margin of 10.65%. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the prior year, the firm posted $1.34 EPS. The business’s revenue was up 1.9% on a year-over-year basis. Equities analysts forecast that Quest Diagnostics Inc will post $5.70 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 24th. Shareholders of record on Monday, July 10th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend was Thursday, July 6th. Quest Diagnostics’s dividend payout ratio (DPR) is currently 36.29%.
A number of analysts have recently issued reports on the stock. UBS AG reissued a “buy” rating and issued a $115.00 price target (up from $102.00) on shares of Quest Diagnostics in a research report on Tuesday, April 25th. Zacks Investment Research raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating and set a $122.00 price target for the company in a research report on Tuesday, June 6th. Mizuho reissued a “buy” rating and issued a $90.00 price target (down from $103.00) on shares of Quest Diagnostics in a research report on Friday, April 14th. BidaskClub raised shares of Quest Diagnostics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 29th. Finally, ValuEngine raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Quest Diagnostics presently has an average rating of “Hold” and an average target price of $109.62.
In other Quest Diagnostics news, SVP Catherine T. Doherty sold 59,762 shares of the company’s stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $107.55, for a total transaction of $6,427,403.10. Following the completion of the transaction, the senior vice president now owns 78,582 shares of the company’s stock, valued at approximately $8,451,494.10. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jeffrey M. Leiden sold 296 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $106.66, for a total value of $31,571.36. Following the transaction, the director now directly owns 6,000 shares of the company’s stock, valued at approximately $639,960. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 61,362 shares of company stock valued at $6,600,758. Insiders own 1.50% of the company’s stock.
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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