Jump Trading LLC acquired a new stake in Quest Diagnostics Inc (NYSE:DGX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,549 shares of the medical research company’s stock, valued at approximately $251,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its stake 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 valued at $244,974,000 after purchasing an additional 560,538 shares in the last quarter. Allianz Asset Management GmbH lifted its stake in shares of Quest Diagnostics by 5.6% in the 4th quarter. Allianz Asset Management GmbH now owns 2,148,357 shares of the medical research company’s stock valued at $211,592,000 after purchasing an additional 114,861 shares in the last quarter. Bessemer Group Inc. lifted its stake 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 valued at $207,596,000 after purchasing an additional 889,802 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Quest Diagnostics by 16.8% in the 4th quarter. American Century Companies Inc. now owns 2,039,110 shares of the medical research company’s stock valued at $200,832,000 after purchasing an additional 293,611 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its stake in shares of Quest Diagnostics by 18.2% in the 4th quarter. Alliancebernstein L.P. now owns 1,816,985 shares of the medical research company’s stock valued at $178,955,000 after purchasing an additional 280,401 shares in the last quarter. 88.59% of the stock is currently owned by institutional investors and hedge funds.
Shares of Quest Diagnostics Inc (DGX) opened at $103.86 on Tuesday. Quest Diagnostics Inc has a twelve month low of $90.10 and a twelve month high of $112.96. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.15. The firm has a market capitalization of $14,153.82, a P/E ratio of 18.88, a PEG ratio of 1.87 and a beta of 0.68.
Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Thursday, February 1st. The medical research company reported $1.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.37 by $0.03. Quest Diagnostics had a return on equity of 15.41% and a net margin of 10.00%. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same period in the previous year, the business earned $1.31 EPS. The business’s quarterly revenue was up 4.0% on a year-over-year basis. sell-side analysts predict that Quest Diagnostics Inc will post 6.59 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 18th. Investors of record on Wednesday, April 4th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, April 3rd. This represents a $2.00 dividend on an annualized basis and a yield of 1.93%. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.45. Quest Diagnostics’s payout ratio is currently 32.73%.
In related news, VP Robert A. Klug sold 1,157 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $103.66, for a total transaction of $119,934.62. Following the completion of the transaction, the vice president now owns 5,137 shares in the company, valued at approximately $532,501.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jon R. Cohen sold 83,669 shares of the business’s stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $104.20, for a total value of $8,718,309.80. Following the transaction, the senior vice president now owns 115,426 shares of the company’s stock, valued at approximately $12,027,389.20. The disclosure for this sale can be found here. Insiders have sold a total of 292,027 shares of company stock valued at $30,336,117 in the last 90 days. Insiders own 1.75% of the company’s stock.
Several equities analysts have recently weighed in on the company. Goldman Sachs assumed coverage on Quest Diagnostics in a research note on Monday, January 29th. They issued a “buy” rating and a $117.00 price objective on the stock. Zacks Investment Research lowered Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. Morgan Stanley raised Quest Diagnostics from an “underweight” rating to an “equal weight” rating and set a $103.00 price objective on the stock in a research note on Wednesday, March 14th. Canaccord Genuity boosted their price target on Quest Diagnostics from $113.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Mizuho set a $113.00 price target on Quest Diagnostics and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Fourteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $108.90.
About Quest Diagnostics
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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