Edmond DE Rothschild Holding S.A. bought a new position in Quest Diagnostics Incorporated (NYSE:DGX – Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,452 shares of the medical research company’s stock, valued at approximately $944,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Brighton Jones LLC purchased a new position in Quest Diagnostics in the 4th quarter worth about $323,000. Cresset Asset Management LLC lifted its stake in Quest Diagnostics by 4.6% during the second quarter. Cresset Asset Management LLC now owns 4,003 shares of the medical research company’s stock valued at $719,000 after buying an additional 176 shares in the last quarter. Gabelli Funds LLC acquired a new position in shares of Quest Diagnostics in the second quarter worth about $287,000. Bank of Nova Scotia boosted its holdings in shares of Quest Diagnostics by 7.2% in the second quarter. Bank of Nova Scotia now owns 14,339 shares of the medical research company’s stock worth $2,576,000 after buying an additional 962 shares during the period. Finally, Daiwa Securities Group Inc. increased its position in shares of Quest Diagnostics by 17.1% in the second quarter. Daiwa Securities Group Inc. now owns 18,599 shares of the medical research company’s stock worth $3,341,000 after acquiring an additional 2,718 shares in the last quarter. 88.06% of the stock is owned by institutional investors and hedge funds.
Quest Diagnostics Trading Up 0.0%
NYSE DGX opened at $241.80 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.46 and a debt-to-equity ratio of 0.72. Quest Diagnostics Incorporated has a 1-year low of $171.18 and a 1-year high of $245.68. The firm’s fifty day simple moving average is $218.52 and its 200-day simple moving average is $204.87. The company has a market capitalization of $26.69 billion, a PE ratio of 25.67, a price-to-earnings-growth ratio of 2.23 and a beta of 0.56.
Quest Diagnostics Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 21st. Stockholders of record on Tuesday, October 6th will be paid a dividend of $0.86 per share. The ex-dividend date is Tuesday, October 6th. This represents a $3.44 annualized dividend and a dividend yield of 1.4%. Quest Diagnostics’s dividend payout ratio is 36.52%.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on the stock. Robert W. Baird boosted their price target on shares of Quest Diagnostics from $236.00 to $255.00 and gave the company a “neutral” rating in a report on Friday, July 24th. JPMorgan Chase & Co. lifted their price objective on shares of Quest Diagnostics from $220.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 28th. Wall Street Zen raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a research note on Tuesday, July 28th. UBS Group increased their target price on Quest Diagnostics from $220.00 to $232.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $245.00 target price on shares of Quest Diagnostics in a research report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, Quest Diagnostics currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.31.
Check Out Our Latest Stock Analysis on DGX
Insider Activity
In other news, SVP Mark E. Delaney sold 1,600 shares of the firm’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $235.18, for a total transaction of $376,288.00. Following the transaction, the senior vice president owned 10,335 shares in the company, valued at approximately $2,430,585.30. This trade represents a 13.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Karthik Kuppusamy sold 8,147 shares of Quest Diagnostics stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $200.00, for a total transaction of $1,629,400.00. Following the completion of the sale, the senior vice president directly owned 13,510 shares of the company’s stock, valued at approximately $2,702,000. The trade was a 37.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 19,747 shares of company stock worth $3,947,088. 0.88% of the stock is owned by corporate insiders.
Quest Diagnostics Profile
Quest Diagnostics (NYSE: DGX) is a leading provider of diagnostic information services that supports clinical decision-making for patients, physicians and healthcare organizations. The company operates a network of clinical laboratories and patient service centers that perform a broad range of laboratory tests and diagnostic assays used in routine care, disease diagnosis, monitoring and screening.
Its services span core clinical laboratory testing, anatomic pathology, molecular and genomic diagnostics, infectious disease testing and toxicology.
Featured Articles
- Five stocks we like better than Quest Diagnostics
- 3 Energy Stocks Raising Dividends as the Sector Surges
- 5 Reasons the S&P 500 Could Keep Rallying Through Year-End
- Walmart’s Post-Earnings Drop Could Be a Buying Opportunity
- The Trade Desk’s Earnings Miss Raises a Bigger Question About Its AI Future
Want to see what other hedge funds are holding DGX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quest Diagnostics Incorporated (NYSE:DGX – Free Report).
Receive News & Ratings for Quest Diagnostics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quest Diagnostics and related companies with MarketBeat.com's FREE daily email newsletter.
