United Services Automobile Association boosted its position in Quest Diagnostics Inc (NYSE:DGX) by 10.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 95,972 shares of the medical research company’s stock after purchasing an additional 8,840 shares during the period. United Services Automobile Association owned approximately 0.07% of Quest Diagnostics worth $10,551,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DGX. Captrust Financial Advisors lifted its position in shares of Quest Diagnostics by 120.0% during the 2nd quarter. Captrust Financial Advisors now owns 2,712 shares of the medical research company’s stock valued at $298,000 after acquiring an additional 1,479 shares during the last quarter. Levin Capital Strategies L.P. acquired a new stake in shares of Quest Diagnostics during the 1st quarter valued at $301,000. Summit Global Investments lifted its position in shares of Quest Diagnostics by 47.7% during the 2nd quarter. Summit Global Investments now owns 41,186 shares of the medical research company’s stock valued at $4,528,000 after acquiring an additional 13,292 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Quest Diagnostics by 57.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,781,373 shares of the medical research company’s stock valued at $195,845,000 after acquiring an additional 648,706 shares during the last quarter. Finally, Comerica Bank lifted its position in shares of Quest Diagnostics by 43.6% during the 2nd quarter. Comerica Bank now owns 48,617 shares of the medical research company’s stock valued at $5,545,000 after acquiring an additional 14,766 shares during the last quarter. Hedge funds and other institutional investors own 86.27% of the company’s stock.
Shares of NYSE:DGX opened at $103.33 on Monday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.05 and a current ratio of 1.12. Quest Diagnostics Inc has a 12-month low of $90.10 and a 12-month high of $116.49. The firm has a market cap of $14.75 billion, a price-to-earnings ratio of 19.14, a PEG ratio of 2.05 and a beta of 0.73.
Quest Diagnostics (NYSE:DGX) last announced its earnings results on Tuesday, July 24th. The medical research company reported $1.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.76 by ($0.01). Quest Diagnostics had a net margin of 10.56% and a return on equity of 15.45%. The firm had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same period last year, the firm earned $1.55 earnings per share. Quest Diagnostics’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, sell-side analysts forecast that Quest Diagnostics Inc will post 6.58 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 22nd. Shareholders of record on Friday, October 5th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.94%. The ex-dividend date is Thursday, October 4th. Quest Diagnostics’s dividend payout ratio (DPR) is currently 37.04%.
In other Quest Diagnostics news, SVP Everett Cunningham sold 40,328 shares of the business’s stock in a transaction on Tuesday, July 10th. The shares were sold at an average price of $112.00, for a total transaction of $4,516,736.00. Following the sale, the senior vice president now directly owns 78,589 shares of the company’s stock, valued at approximately $8,801,968. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.79% of the stock is owned by insiders.
A number of brokerages have recently commented on DGX. Deutsche Bank downgraded Quest Diagnostics from a “buy” rating to a “hold” rating and set a $108.00 price objective for the company. in a research report on Wednesday, June 27th. Argus set a $120.00 price objective on Quest Diagnostics and gave the company a “buy” rating in a research report on Friday, September 14th. MED downgraded Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Wednesday, June 27th. Credit Suisse Group increased their price objective on Quest Diagnostics from $121.00 to $128.00 and gave the company an “outperform” rating in a research report on Monday, September 24th. Finally, Evercore ISI upgraded Quest Diagnostics from an “in-line” rating to an “outperform” rating and set a $103.00 price objective for the company in a research report on Tuesday, July 10th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Quest Diagnostics has an average rating of “Hold” and a consensus price target of $110.65.
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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