Kinneret Advisory LLC bought a new position in shares of Quest Diagnostics Inc (NYSE:DGX) in the fourth quarter, HoldingsChannel.com reports. The fund bought 2,516 shares of the medical research company’s stock, valued at approximately $210,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Legacy Financial Advisors Inc. acquired a new position in Quest Diagnostics in the fourth quarter valued at about $45,000. Benjamin F. Edwards & Company Inc. raised its stake in Quest Diagnostics by 32.7% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 544 shares of the medical research company’s stock valued at $45,000 after purchasing an additional 134 shares in the last quarter. Doyle Wealth Management acquired a new position in Quest Diagnostics in the fourth quarter valued at about $48,000. Spectrum Management Group Inc. acquired a new position in Quest Diagnostics in the fourth quarter valued at about $58,000. Finally, Pearl River Capital LLC acquired a new position in Quest Diagnostics in the fourth quarter valued at about $60,000. 88.21% of the stock is owned by institutional investors.
DGX has been the subject of a number of analyst reports. Morgan Stanley set a $101.00 price target on Quest Diagnostics and gave the company a “buy” rating in a research note on Thursday, December 20th. Credit Suisse Group reaffirmed a “buy” rating and issued a $121.00 price target on shares of Quest Diagnostics in a research note on Sunday, December 2nd. Canaccord Genuity reaffirmed a “buy” rating and issued a $98.00 price target on shares of Quest Diagnostics in a research note on Friday, November 30th. Mizuho set a $108.00 price target on Quest Diagnostics and gave the company a “buy” rating in a research note on Tuesday, November 20th. Finally, Barclays reaffirmed a “buy” rating and issued a $114.00 price target on shares of Quest Diagnostics in a research note on Friday, February 15th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $102.82.
Quest Diagnostics stock opened at $87.90 on Friday. Quest Diagnostics Inc has a 12-month low of $78.95 and a 12-month high of $116.49. The company has a current ratio of 0.94, a quick ratio of 0.87 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $11.86 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 2.04 and a beta of 0.89.
Quest Diagnostics (NYSE:DGX) last released its earnings results on Thursday, February 14th. The medical research company reported $1.36 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.37 by ($0.01). Quest Diagnostics had a net margin of 9.77% and a return on equity of 15.23%. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the prior year, the firm earned $1.40 EPS. The business’s revenue was down 1.4% on a year-over-year basis. As a group, equities analysts anticipate that Quest Diagnostics Inc will post 6.45 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 22nd. Shareholders of record on Monday, April 8th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Friday, April 5th. Quest Diagnostics’s dividend payout ratio is presently 33.60%.
In other news, SVP Everett Cunningham sold 1,496 shares of the business’s stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of $86.64, for a total transaction of $129,613.44. Following the sale, the senior vice president now directly owns 39,755 shares in the company, valued at $3,444,373.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Michael E. Prevoznik sold 336 shares of the business’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $88.23, for a total value of $29,645.28. Following the sale, the senior vice president now owns 42,108 shares in the company, valued at $3,715,188.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,724 shares of company stock worth $1,199,363. Company insiders own 1.79% of the company’s stock.
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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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