Quest Diagnostics Inc (DGX) Shares Bought by Schnieders Capital Management LLC
Schnieders Capital Management LLC increased its position in shares of Quest Diagnostics Inc (NYSE:DGX) by 0.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 2,366 shares of the medical research company’s stock after buying an additional 6 shares during the period. Schnieders Capital Management LLC’s holdings in Quest Diagnostics were worth $263,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. YorkBridge Wealth Partners LLC boosted 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 worth $127,000 after buying an additional 18 shares during the last quarter. Parallel Advisors LLC boosted 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 worth $137,000 after buying an additional 177 shares during the last quarter. Advisors Capital Management LLC acquired a new stake in shares of Quest Diagnostics during the first quarter worth approximately $164,000. Trust Co. of Vermont boosted its stake in shares of 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 worth $182,000 after buying an additional 145 shares during the last quarter. Finally, Financial Architects Inc boosted its stake in shares of Quest Diagnostics by 5.6% in the second quarter. Financial Architects Inc now owns 1,666 shares of the medical research company’s stock worth $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 (NYSE DGX) traded up 0.46% during midday trading on Friday, reaching $106.10. 849,396 shares of the company’s stock traded hands. The company has a 50-day moving average of $108.82 and a 200-day moving average of $103.03. The company has a market capitalization of $14.47 billion, a price-to-earnings ratio of 21.38 and a beta of 0.69. Quest Diagnostics Inc has a one year low of $79.12 and a one year high of $112.97.
Quest Diagnostics (NYSE:DGX) last issued its earnings results on Tuesday, July 25th. The medical research company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.42 by $0.13. The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Quest Diagnostics had a net margin of 10.65% and a return on equity of 16.60%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.34 EPS. Equities research analysts anticipate that Quest Diagnostics Inc will post $5.70 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 24th. Shareholders of record on Monday, July 10th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend was Thursday, July 6th. Quest Diagnostics’s payout ratio is 36.29%.
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A number of analysts recently commented on the stock. UBS AG restated a “buy” rating and set a $115.00 price target (up from $102.00) on shares of Quest Diagnostics in a research note on Tuesday, April 25th. Evercore ISI restated an “in-line” rating and set a $104.50 price target on shares of Quest Diagnostics in a research note on Wednesday, June 28th. Barclays PLC reaffirmed a “hold” rating and set a $110.00 target price on shares of Quest Diagnostics in a report on Wednesday, July 19th. Mizuho upped their target price on shares of Quest Diagnostics from $115.00 to $122.00 and gave the stock a “buy” rating in a report on Monday, June 5th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $118.00 target price on shares of Quest Diagnostics in a report on Tuesday, June 13th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $109.62.
In related news, SVP Catherine T. Doherty sold 59,762 shares of the company’s stock in a transaction on Monday, June 19th. The shares were sold at an average price of $107.55, for a total value of $6,427,403.10. Following the completion of the sale, the senior vice president now owns 78,582 shares in the company, valued at approximately $8,451,494.10. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Jeffrey M. Leiden sold 1,304 shares of the company’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $108.73, for a total transaction of $141,783.92. Following the completion of the sale, the director now owns 6,296 shares of the company’s stock, valued at approximately $684,564.08. The disclosure for this sale can be found here. Insiders have sold a total of 61,362 shares of company stock valued at $6,600,758 in the last quarter. Corporate insiders own 1.50% of the company’s stock.
About Quest Diagnostics
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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