Delta Lloyd Asset Management N.V. Buys New Position in Quest Diagnostics Incorporated (DGX)
Delta Lloyd Asset Management N.V. bought a new position in shares of Quest Diagnostics Incorporated (NYSE:DGX) during the second quarter, according to its most recent filing with the SEC. The fund bought 21,271 shares of the medical research company’s stock, valued at approximately $2,364,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Swiss National Bank raised its stake in shares of Quest Diagnostics by 2.2% during the 2nd quarter. Swiss National Bank now owns 570,530 shares of the medical research company’s stock worth $63,420,000 after purchasing an additional 12,100 shares during the period. Chicago Equity Partners LLC raised its stake in Quest Diagnostics by 23.5% in the 2nd quarter. Chicago Equity Partners LLC now owns 3,335 shares of the medical research company’s stock valued at $371,000 after acquiring an additional 635 shares during the period. Wesbanco Bank Inc. raised its stake in Quest Diagnostics by 4.6% in the 2nd quarter. Wesbanco Bank Inc. now owns 5,708 shares of the medical research company’s stock valued at $634,000 after acquiring an additional 250 shares during the period. Principal Financial Group Inc. raised its stake in Quest Diagnostics by 16.2% in the 2nd quarter. Principal Financial Group Inc. now owns 320,246 shares of the medical research company’s stock valued at $35,598,000 after acquiring an additional 44,740 shares during the period. Finally, OMERS ADMINISTRATION Corp bought a new stake in Quest Diagnostics in the 2nd quarter valued at about $1,633,000. Institutional investors own 87.07% of the company’s stock.
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Quest Diagnostics Incorporated (DGX) opened at 108.17 on Monday. Quest Diagnostics Incorporated has a one year low of $79.12 and a one year high of $112.96. The stock’s 50 day moving average price is $107.55 and its 200 day moving average price is $104.54. The stock has a market cap of $14.75 billion, a price-to-earnings ratio of 21.80 and a beta of 0.69.
Quest Diagnostics (NYSE:DGX) last issued its earnings results on Tuesday, July 25th. The medical research company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.13. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.94 billion. Quest Diagnostics had a return on equity of 15.66% and a net margin of 9.28%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the company earned $1.34 EPS. Equities analysts predict that Quest Diagnostics Incorporated will post $5.69 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 18th. Investors of record on Tuesday, October 3rd will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.66%. The ex-dividend date is Monday, October 2nd. Quest Diagnostics’s dividend payout ratio (DPR) is presently 36.29%.
In related news, SVP Catherine T. Doherty sold 59,762 shares of Quest Diagnostics stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $107.55, for a total transaction of $6,427,403.10. Following the sale, the senior vice president now owns 78,582 shares of the company’s stock, valued at approximately $8,451,494.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey M. Leiden sold 1,304 shares of Quest Diagnostics stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $108.73, for a total value of $141,783.92. Following the sale, the director now directly owns 6,296 shares in the company, 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 worth $6,600,758 in the last three months. 1.75% of the stock is owned by corporate insiders.
A number of equities research analysts recently issued reports on the company. UBS AG boosted their price objective on Quest Diagnostics from $115.00 to $123.00 and gave the company a “buy” rating in a research note on Thursday, July 6th. Evercore ISI restated an “in-line” rating and issued a $104.50 price objective on shares of Quest Diagnostics in a research note on Wednesday, June 28th. Barclays PLC restated a “hold” rating and issued a $110.00 price objective on shares of Quest Diagnostics in a research note on Wednesday, July 19th. BidaskClub upgraded Quest Diagnostics from a “sell” rating to a “hold” rating in a research note on Tuesday, August 15th. Finally, Canaccord Genuity restated a “buy” rating and issued a $118.00 price objective on shares of Quest Diagnostics in a research note on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $109.62.
Quest Diagnostics 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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