ETRADE Capital Management LLC lessened its position in Quest Diagnostics Inc (NYSE:DGX) by 25.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,314 shares of the medical research company’s stock after selling 4,630 shares during the period. ETRADE Capital Management LLC’s holdings in Quest Diagnostics were worth $1,069,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. IFP Advisors Inc boosted its stake in shares of Quest Diagnostics by 92.6% during the 4th quarter. IFP Advisors Inc now owns 262 shares of the medical research company’s stock valued at $27,000 after purchasing an additional 126 shares in the last quarter. Orion Portfolio Solutions LLC bought a new stake in shares of Quest Diagnostics during the 4th quarter valued at about $27,000. Wealthcare Advisory Partners LLC boosted its stake in shares of Quest Diagnostics by 81.0% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 342 shares of the medical research company’s stock valued at $27,000 after purchasing an additional 153 shares in the last quarter. Procyon Private Wealth Partners LLC bought a new stake in shares of Quest Diagnostics during the 4th quarter valued at about $29,000. Finally, Valeo Financial Advisors LLC bought a new stake in shares of Quest Diagnostics during the 1st quarter valued at about $30,000. 90.37% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Quest Diagnostics stock opened at $112.83 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.27 and a current ratio of 1.38. The stock has a market capitalization of $15.11 billion, a PE ratio of 19.42, a price-to-earnings-growth ratio of 3.23 and a beta of 1.39. Quest Diagnostics Inc has a 52-week low of $73.02 and a 52-week high of $125.00. The company has a 50-day simple moving average of $99.72 and a two-hundred day simple moving average of $103.30.
Quest Diagnostics (NYSE:DGX) last issued its earnings results on Wednesday, April 22nd. The medical research company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.06. The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Quest Diagnostics had a net margin of 10.36% and a return on equity of 14.79%. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.40 earnings per share. As a group, equities research analysts forecast that Quest Diagnostics Inc will post 4.94 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 8th will be issued a $0.56 dividend. The ex-dividend date of this dividend is Tuesday, July 7th. This represents a $2.24 annualized dividend and a yield of 1.99%. Quest Diagnostics’s dividend payout ratio (DPR) is presently 34.15%.
In other news, EVP J. E. Davis sold 598 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $112.73, for a total transaction of $67,412.54. Following the completion of the transaction, the executive vice president now directly owns 42,052 shares of the company’s stock, valued at $4,740,521.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Catherine T. Doherty sold 405 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $112.73, for a total transaction of $45,655.65. Following the transaction, the senior vice president now directly owns 71,106 shares of the company’s stock, valued at $8,015,779.38. The disclosure for this sale can be found here. Insiders have sold 255,476 shares of company stock valued at $28,656,119 over the last three months. 1.49% of the stock is owned by corporate insiders.
A number of equities research analysts have recently weighed in on DGX shares. Morgan Stanley lifted their target price on shares of Quest Diagnostics from $139.00 to $146.00 and gave the company an “overweight” rating in a research note on Wednesday. Bank of America lifted their target price on shares of Quest Diagnostics from $105.00 to $120.00 and gave the company a “neutral” rating in a research note on Thursday, April 30th. SunTrust Banks lifted their target price on shares of Quest Diagnostics from $110.00 to $130.00 and gave the company a “hold” rating in a research note on Thursday. Wolfe Research raised shares of Quest Diagnostics from an “underperform” rating to a “market perform” rating and set a $116.00 price target for the company in a research report on Monday, April 27th. Finally, Credit Suisse Group reissued a “hold” rating and set a $100.00 price target on shares of Quest Diagnostics in a research report on Friday, April 24th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $111.28.
Quest Diagnostics Company Profile
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.
Featured Story: What impact do institutional investors have on markets?
Want to see what other hedge funds are holding DGX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quest Diagnostics Inc (NYSE:DGX).
Receive News & Ratings for Quest Diagnostics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quest Diagnostics and related companies with MarketBeat.com's FREE daily email newsletter.