Advisor Partners LLC Raises Position in Quest Diagnostics Inc (DGX)
Advisor Partners LLC boosted its stake in Quest Diagnostics Inc (NYSE:DGX) by 2.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,601 shares of the medical research company’s stock after buying an additional 72 shares during the period. Advisor Partners LLC’s holdings in Quest Diagnostics were worth $289,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DGX. YorkBridge Wealth Partners LLC raised its position in Quest Diagnostics by 1.5% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,188 shares of the medical research company’s stock valued at $127,000 after buying an additional 18 shares during the last quarter. Parallel Advisors LLC raised its position in Quest Diagnostics by 16.1% in the first quarter. Parallel Advisors LLC now owns 1,279 shares of the medical research company’s stock valued at $137,000 after buying an additional 177 shares during the last quarter. Advisors Capital Management LLC purchased a new position in Quest Diagnostics during the first quarter valued at about $164,000. Trust Co. of Vermont raised its position in Quest Diagnostics by 8.5% in the first quarter. Trust Co. of Vermont now owns 1,859 shares of the medical research company’s stock valued at $182,000 after buying an additional 145 shares during the last quarter. Finally, Financial Architects Inc raised its position in Quest Diagnostics by 5.6% in the second quarter. Financial Architects Inc now owns 1,666 shares of the medical research company’s stock valued at $185,000 after buying an additional 88 shares during the last quarter. Hedge funds and other institutional investors own 90.97% of the company’s stock.
Shares of Quest Diagnostics Inc (DGX) opened at 106.10 on Friday. Quest Diagnostics Inc has a 52-week low of $79.12 and a 52-week high of $112.97. The firm has a market cap of $14.47 billion, a P/E ratio of 21.38 and a beta of 0.69. The company has a 50-day moving average of $108.82 and a 200 day moving average of $103.03.
Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings data on Tuesday, July 25th. The medical research company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.13. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. Quest Diagnostics had a return on equity of 16.60% and a net margin of 10.65%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.34 earnings per share. On average, equities analysts expect that Quest Diagnostics Inc will post $5.70 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 24th. Shareholders of record on Monday, July 10th were issued a $0.45 dividend. The ex-dividend date of this dividend was Thursday, July 6th. This represents a $1.80 dividend on an annualized basis and a yield of 1.70%. Quest Diagnostics’s dividend payout ratio (DPR) is 36.29%.
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Several research analysts have issued reports on the stock. UBS AG restated a “buy” rating and set a $115.00 price target (up previously from $102.00) on shares of Quest Diagnostics in a report on Tuesday, April 25th. Zacks Investment Research upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating and set a $122.00 price target for the company in a report on Tuesday, June 6th. Mizuho restated a “buy” rating and set a $90.00 price target (down previously from $103.00) on shares of Quest Diagnostics in a report on Friday, April 14th. BidaskClub upgraded shares of Quest Diagnostics from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 29th. Finally, ValuEngine upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Quest Diagnostics presently has a consensus rating of “Hold” and an average target price of $109.62.
In other Quest Diagnostics news, Director Jeffrey M. Leiden sold 296 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $106.66, for a total value of $31,571.36. Following the completion of the transaction, the director now owns 6,000 shares in the company, valued at $639,960. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Catherine T. Doherty sold 59,762 shares of the stock in a transaction on Monday, June 19th. The stock was sold at an average price of $107.55, for a total value of $6,427,403.10. Following the completion of the transaction, the senior vice president now owns 78,582 shares of the company’s stock, valued at approximately $8,451,494.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,362 shares of company stock valued at $6,600,758. 1.50% of the stock is owned by corporate insiders.
Quest Diagnostics Company Profile
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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