Quest Diagnostics Incorporated (DGX) Holdings Increased by Copeland Capital Management LLC
Copeland Capital Management LLC grew its holdings in Quest Diagnostics Incorporated (NYSE:DGX) by 5.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 164,331 shares of the medical research company’s stock after purchasing an additional 8,742 shares during the period. Copeland Capital Management LLC owned about 0.12% of Quest Diagnostics worth $15,388,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in DGX. Teachers Advisors LLC increased its stake in Quest Diagnostics by 23.6% in the first quarter. Teachers Advisors LLC now owns 219,065 shares of the medical research company’s stock worth $21,510,000 after purchasing an additional 41,822 shares during the period. Thrivent Financial For Lutherans grew its position in shares of Quest Diagnostics by 4.5% during the 1st quarter. Thrivent Financial For Lutherans now owns 5,100 shares of the medical research company’s stock worth $501,000 after buying an additional 220 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of Quest Diagnostics during the 1st quarter worth $741,000. BlueCrest Capital Management Ltd bought a new position in shares of Quest Diagnostics during the 1st quarter worth $216,000. Finally, Paloma Partners Management Co bought a new position in shares of Quest Diagnostics during the 1st quarter worth $1,417,000. Institutional investors and hedge funds own 88.64% of the company’s stock.
DGX has been the topic of a number of recent research reports. Raymond James Financial, Inc. reissued a “market perform” rating on shares of Quest Diagnostics in a research report on Monday, September 25th. Canaccord Genuity reissued a “buy” rating and set a $118.00 price target on shares of Quest Diagnostics in a research report on Wednesday, September 13th. ValuEngine raised Quest Diagnostics from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Goldman Sachs Group, Inc. (The) downgraded Quest Diagnostics from a “conviction-buy” rating to a “buy” rating and dropped their price target for the stock from $121.00 to $113.00 in a research report on Tuesday, October 10th. Finally, Craig Hallum reissued a “hold” rating and set a $100.00 price target (down previously from $110.00) on shares of Quest Diagnostics in a research report on Tuesday, October 17th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $106.18.
In other news, Chairman Stephen H. Rusckowski sold 2,525 shares of Quest Diagnostics stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $108.03, for a total transaction of $272,775.75. Following the sale, the chairman now directly owns 168,413 shares of the company’s stock, valued at $18,193,656.39. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey M. Leiden sold 296 shares of Quest Diagnostics stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $106.66, for a total value of $31,571.36. Following the sale, the director now directly owns 6,000 shares in the company, valued at $639,960. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 160,692 shares of company stock worth $17,375,423. Corporate insiders own 1.75% of the company’s stock.
Shares of Quest Diagnostics Incorporated (NYSE:DGX) traded down 0.31% on Tuesday, reaching $93.49. The company had a trading volume of 547,393 shares. Quest Diagnostics Incorporated has a 52 week low of $79.12 and a 52 week high of $112.96. The firm has a market capitalization of $12.75 billion, a P/E ratio of 18.84 and a beta of 0.66. The company’s 50-day moving average price is $96.26 and its 200 day moving average price is $104.50.
Quest Diagnostics (NYSE:DGX) last announced its earnings results on Thursday, October 19th. The medical research company reported $1.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.04. Quest Diagnostics had a return on equity of 15.53% and a net margin of 8.82%. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same period in the previous year, the company earned $1.37 earnings per share. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, analysts expect that Quest Diagnostics Incorporated will post $5.64 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 18th. Stockholders of record on Tuesday, October 3rd were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend was Monday, October 2nd. Quest Diagnostics’s payout ratio is 37.74%.
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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