Sigma Planning Corp bought a new position in Quest Diagnostics Inc (NYSE:DGX) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 2,337 shares of the medical research company’s stock, valued at approximately $230,000.
Several other institutional investors and hedge funds have also recently modified their holdings of DGX. APG Asset Management N.V. raised its position in shares of Quest Diagnostics by 156.0% in the 3rd quarter. APG Asset Management N.V. now owns 2,683,901 shares of the medical research company’s stock worth $251,320,000 after buying an additional 1,635,700 shares during the period. Rockefeller Financial Services Inc. raised its position in shares of Quest Diagnostics by 741,981.0% in the 4th quarter. Rockefeller Financial Services Inc. now owns 1,246,696 shares of the medical research company’s stock worth $122,787,000 after buying an additional 1,246,528 shares during the period. Bessemer Group Inc. raised its position in shares of Quest Diagnostics by 73.1% in the 4th quarter. Bessemer Group Inc. now owns 2,107,796 shares of the medical research company’s stock worth $207,596,000 after buying an additional 889,802 shares during the period. Victory Capital Management Inc. raised its position in shares of Quest Diagnostics by 29.1% in the 4th quarter. Victory Capital Management Inc. now owns 2,487,295 shares of the medical research company’s stock worth $244,974,000 after buying an additional 560,538 shares during the period. Finally, Janus Henderson Group PLC increased its holdings in Quest Diagnostics by 24.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,801,477 shares of the medical research company’s stock valued at $168,690,000 after purchasing an additional 349,703 shares in the last quarter. 90.22% of the stock is currently owned by institutional investors and hedge funds.
Shares of Quest Diagnostics Inc (DGX) opened at $104.53 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.15 and a current ratio of 1.24. The firm has a market capitalization of $14,247.33, a PE ratio of 19.01, a PEG ratio of 1.88 and a beta of 0.67. Quest Diagnostics Inc has a 52 week low of $90.10 and a 52 week high of $112.96.
Quest Diagnostics (NYSE:DGX) last announced its earnings results on Thursday, February 1st. The medical research company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.03. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.93 billion. Quest Diagnostics had a return on equity of 15.41% and a net margin of 10.00%. The company’s revenue was up 4.0% on a year-over-year basis. During the same period last year, the firm earned $1.31 earnings per share. sell-side analysts predict that Quest Diagnostics Inc will post 6.59 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 18th. Stockholders of record on Wednesday, April 4th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, April 3rd. This is an increase from Quest Diagnostics’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a dividend yield of 1.91%. Quest Diagnostics’s dividend payout ratio (DPR) is currently 32.73%.
In other news, SVP Catherine T. Doherty sold 21,294 shares of the firm’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $104.00, for a total transaction of $2,214,576.00. Following the completion of the sale, the senior vice president now directly owns 90,709 shares in the company, valued at $9,433,736. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP J. E. Davis sold 63,880 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $98.68, for a total value of $6,303,678.40. Following the sale, the executive vice president now owns 101,423 shares of the company’s stock, valued at $10,008,421.64. The disclosure for this sale can be found here. Insiders have sold 192,014 shares of company stock valued at $19,950,134 over the last 90 days. Insiders own 1.75% of the company’s stock.
Several analysts recently issued reports on DGX shares. Zacks Investment Research downgraded Quest Diagnostics from a “hold” rating to a “sell” rating in a report on Friday, October 27th. Evercore ISI started coverage on Quest Diagnostics in a report on Thursday, January 4th. They issued an “in-line” rating and a $103.00 price target for the company. Canaccord Genuity increased their price target on Quest Diagnostics from $100.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, October 26th. Jefferies Group set a $98.00 price target on Quest Diagnostics and gave the company a “hold” rating in a report on Saturday, November 25th. Finally, KeyCorp reiterated a “hold” rating on shares of Quest Diagnostics in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $107.40.
Quest Diagnostics 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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