Cornercap Investment Counsel Inc. raised its holdings in shares of Quest Diagnostics Inc (NYSE:DGX) by 12.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 20,005 shares of the medical research company’s stock after acquiring an additional 2,269 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Quest Diagnostics were worth $1,606,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of DGX. Norges Bank bought a new stake in shares of Quest Diagnostics during the 4th quarter valued at $148,158,000. Scharf Investments LLC bought a new stake in shares of Quest Diagnostics during the 1st quarter valued at $57,171,000. Bessemer Group Inc. raised its position in shares of Quest Diagnostics by 66.0% during the 4th quarter. Bessemer Group Inc. now owns 1,286,328 shares of the medical research company’s stock valued at $137,366,000 after acquiring an additional 511,512 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Quest Diagnostics by 42.8% during the 4th quarter. Alliancebernstein L.P. now owns 1,255,566 shares of the medical research company’s stock valued at $134,082,000 after acquiring an additional 376,237 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Quest Diagnostics by 35.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,205,333 shares of the medical research company’s stock valued at $128,717,000 after acquiring an additional 313,407 shares during the last quarter. Institutional investors own 90.37% of the company’s stock.
In other news, CEO Stephen H. Rusckowski sold 11,717 shares of the stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $112.01, for a total transaction of $1,312,421.17. Following the completion of the transaction, the chief executive officer now directly owns 249,464 shares in the company, valued at approximately $27,942,462.64. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Catherine T. Doherty sold 405 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $112.73, for a total transaction of $45,655.65. Following the transaction, the senior vice president now owns 71,106 shares of the company’s stock, valued at $8,015,779.38. The disclosure for this sale can be found here. In the last quarter, insiders have sold 255,476 shares of company stock valued at $28,656,119. Corporate insiders own 1.49% of the company’s stock.
DGX stock traded down $0.16 during trading hours on Friday, reaching $112.83. 770,390 shares of the stock were exchanged, compared to its average volume of 2,048,430. The firm’s 50-day moving average is $99.72 and its 200-day moving average is $103.30. The company has a market cap of $15.11 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 3.23 and a beta of 1.39. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.38 and a quick ratio of 1.27. Quest Diagnostics Inc has a 12 month low of $73.02 and a 12 month high of $125.00.
Quest Diagnostics (NYSE:DGX) last released its earnings results on Wednesday, April 22nd. The medical research company reported $0.94 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.06. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Quest Diagnostics had a return on equity of 14.79% and a net margin of 10.36%. The company’s revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.40 EPS. As a group, equities research analysts forecast that Quest Diagnostics Inc will post 4.94 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 8th will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Tuesday, July 7th. Quest Diagnostics’s dividend payout ratio (DPR) is presently 34.15%.
Several analysts have commented on the stock. Credit Suisse Group reiterated a “hold” rating and set a $100.00 target price on shares of Quest Diagnostics in a research report on Friday, April 24th. SunTrust Banks upped their price objective on shares of Quest Diagnostics from $110.00 to $130.00 and gave the company a “hold” rating in a research report on Thursday. Citigroup upgraded shares of Quest Diagnostics from a “neutral” rating to a “buy” rating and upped their price objective for the company from $113.00 to $130.00 in a research report on Monday, April 27th. UBS Group upped their price objective on shares of Quest Diagnostics from $106.00 to $111.00 and gave the company a “neutral” rating in a research report on Tuesday, May 5th. Finally, Piper Sandler upped their price objective on shares of Quest Diagnostics from $102.00 to $107.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $111.28.
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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