KBC Group NV cut its holdings in Quest Diagnostics Inc (NYSE:DGX) by 7.1% in the 4th quarter, HoldingsChannel reports. The fund owned 14,841 shares of the medical research company’s stock after selling 1,127 shares during the period. KBC Group NV’s holdings in Quest Diagnostics were worth $1,236,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Quest Diagnostics in the 3rd quarter worth about $743,000. USS Investment Management Ltd increased its position in Quest Diagnostics by 3.0% in the 4th quarter. USS Investment Management Ltd now owns 103,300 shares of the medical research company’s stock valued at $8,603,000 after buying an additional 3,000 shares in the last quarter. Legacy Financial Advisors Inc. bought a new stake in Quest Diagnostics in the 4th quarter valued at about $45,000. TLP Group LLC bought a new stake in Quest Diagnostics in the 3rd quarter valued at about $194,000. Finally, CenturyLink Investment Management Co increased its position in Quest Diagnostics by 10.3% in the 4th quarter. CenturyLink Investment Management Co now owns 12,861 shares of the medical research company’s stock valued at $1,071,000 after buying an additional 1,196 shares in the last quarter. 87.19% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently commented on DGX shares. ValuEngine lowered Quest Diagnostics from a “hold” rating to a “sell” rating in a research report on Friday, November 30th. Mizuho set a $108.00 target price on Quest Diagnostics and gave the company a “buy” rating in a research report on Tuesday, November 20th. Morgan Stanley set a $101.00 target price on Quest Diagnostics and gave the company a “buy” rating in a research report on Thursday, December 20th. UBS Group started coverage on Quest Diagnostics in a research report on Thursday, January 17th. They issued a “neutral” rating and a $90.00 target price for the company. Finally, Argus set a $106.00 target price on Quest Diagnostics and gave the company a “buy” rating in a research report on Wednesday, October 24th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. Quest Diagnostics presently has a consensus rating of “Hold” and an average price target of $104.56.
DGX stock opened at $88.25 on Tuesday. The stock has a market cap of $12.09 billion, a price-to-earnings ratio of 16.34, a P/E/G ratio of 1.83 and a beta of 0.89. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.15 and a quick ratio of 1.09. Quest Diagnostics Inc has a 52-week low of $78.95 and a 52-week high of $116.49.
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 30th. Shareholders of record on Tuesday, January 15th were paid a dividend of $0.53 per share. The ex-dividend date was Monday, January 14th. This represents a $2.12 dividend on an annualized basis and a yield of 2.40%. This is an increase from Quest Diagnostics’s previous quarterly dividend of $0.50. Quest Diagnostics’s payout ratio is 39.26%.
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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'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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