Parametric Portfolio Associates LLC boosted its position in Quest Diagnostics Inc (NYSE:DGX) by 4.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 657,509 shares of the medical research company’s stock after buying an additional 27,820 shares during the period. Parametric Portfolio Associates LLC’s holdings in Quest Diagnostics were worth $66,941,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CENTRAL TRUST Co boosted its stake in Quest Diagnostics by 11.2% in the 2nd quarter. CENTRAL TRUST Co now owns 2,834 shares of the medical research company’s stock valued at $293,000 after purchasing an additional 285 shares during the period. Girard Partners LTD. boosted its stake in Quest Diagnostics by 3.6% in the 2nd quarter. Girard Partners LTD. now owns 25,293 shares of the medical research company’s stock valued at $2,575,000 after purchasing an additional 880 shares during the period. Aperio Group LLC boosted its stake in Quest Diagnostics by 11.8% in the 2nd quarter. Aperio Group LLC now owns 120,853 shares of the medical research company’s stock valued at $12,304,000 after purchasing an additional 12,752 shares during the period. Atwater Malick LLC boosted its stake in Quest Diagnostics by 2.8% in the 2nd quarter. Atwater Malick LLC now owns 33,074 shares of the medical research company’s stock valued at $3,367,000 after purchasing an additional 894 shares during the period. Finally, AE Wealth Management LLC bought a new stake in Quest Diagnostics in the 2nd quarter valued at $377,000. Institutional investors and hedge funds own 89.73% of the company’s stock.
NYSE DGX traded down $0.16 during midday trading on Friday, hitting $104.81. The company had a trading volume of 369,462 shares, compared to its average volume of 945,562. The company has a market capitalization of $14.20 billion, a PE ratio of 16.61, a P/E/G ratio of 2.12 and a beta of 0.87. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average price of $101.69 and a 200-day moving average price of $96.55. Quest Diagnostics Inc has a twelve month low of $78.95 and a twelve month high of $109.05.
Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings data on Tuesday, July 23rd. The medical research company reported $1.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.69 by $0.04. The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Quest Diagnostics had a return on equity of 15.05% and a net margin of 9.64%. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.75 EPS. On average, equities analysts anticipate that Quest Diagnostics Inc will post 6.5 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Friday, October 4th will be issued a dividend of $0.53 per share. The ex-dividend date is Thursday, October 3rd. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.02%. Quest Diagnostics’s dividend payout ratio (DPR) is currently 33.60%.
Several analysts recently issued reports on the company. Evercore ISI restated a “buy” rating and issued a $108.00 price target on shares of Quest Diagnostics in a research note on Thursday, August 8th. Mizuho set a $110.00 price target on Quest Diagnostics and gave the company a “buy” rating in a research note on Monday, May 20th. Credit Suisse Group lifted their price objective on Quest Diagnostics from $99.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Canaccord Genuity lifted their price objective on Quest Diagnostics from $108.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Zacks Investment Research raised Quest Diagnostics from a “sell” rating to a “hold” rating and set a $111.00 price objective for the company in a report on Wednesday, July 24th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Quest Diagnostics presently has a consensus rating of “Hold” and an average price target of $105.06.
About Quest Diagnostics
Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic testing information and services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.
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