Quest Diagnostics Inc (DGX) Shares Bought by Mackenzie Financial Corp
Mackenzie Financial Corp increased its holdings in shares of Quest Diagnostics Inc (NYSE:DGX) by 25.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 195,500 shares of the medical research company’s stock after buying an additional 40,164 shares during the quarter. Mackenzie Financial Corp owned 0.14% of Quest Diagnostics worth $18,307,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of DGX. APG Asset Management N.V. raised its stake in Quest Diagnostics by 156.0% during the 3rd quarter. APG Asset Management N.V. now owns 2,683,901 shares of the medical research company’s stock worth $251,320,000 after buying an additional 1,635,700 shares during the period. Janus Henderson Group PLC raised its stake in Quest Diagnostics by 9,350.4% during the 2nd quarter. Janus Henderson Group PLC now owns 1,451,774 shares of the medical research company’s stock worth $161,379,000 after buying an additional 1,436,412 shares during the period. AJO LP raised its stake in Quest Diagnostics by 137.9% during the 2nd quarter. AJO LP now owns 2,134,245 shares of the medical research company’s stock worth $237,243,000 after buying an additional 1,237,021 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in shares of Quest Diagnostics by 316.2% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,043,889 shares of the medical research company’s stock valued at $116,035,000 after purchasing an additional 793,085 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Quest Diagnostics by 3.9% in the 2nd quarter. Vanguard Group Inc. now owns 14,029,322 shares of the medical research company’s stock valued at $1,559,500,000 after purchasing an additional 525,200 shares during the period. 89.23% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO Stephen H. Rusckowski sold 53,933 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $108.16, for a total transaction of $5,833,393.28. Following the completion of the sale, the chief executive officer now owns 220,049 shares in the company, valued at $23,800,499.84. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Daniel Stanzione sold 40,900 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $108.07, for a total value of $4,420,063.00. Following the sale, the director now owns 41,991 shares of the company’s stock, valued at approximately $4,537,967.37. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 154,068 shares of company stock valued at $16,660,314. Corporate insiders own 1.75% of the company’s stock.
DGX has been the topic of several recent research reports. Raymond James Financial reissued a “market perform” rating on shares of Quest Diagnostics in a research note on Monday, September 25th. Goldman Sachs Group downgraded Quest Diagnostics from a “conviction-buy” rating to a “buy” rating and dropped their price target for the company from $121.00 to $113.00 in a research note on Tuesday, October 10th. Canaccord Genuity reissued a “buy” rating and issued a $118.00 price target on shares of Quest Diagnostics in a research note on Wednesday, September 13th. ValuEngine raised Quest Diagnostics from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, Zacks Investment Research downgraded Quest Diagnostics from a “hold” rating to a “sell” rating in a research note on Friday, October 27th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the company. Quest Diagnostics presently has a consensus rating of “Hold” and a consensus price target of $106.28.
Quest Diagnostics Inc (DGX) traded down $0.48 during trading on Thursday, reaching $97.39. The company had a trading volume of 1,026,200 shares, compared to its average volume of 1,022,947. Quest Diagnostics Inc has a fifty-two week low of $87.83 and a fifty-two week high of $112.96. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.47 and a quick ratio of 1.37. The company has a market capitalization of $13,339.62, a PE ratio of 17.54, a P/E/G ratio of 2.04 and a beta of 0.60.
Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings results on Thursday, October 19th. The medical research company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter last year, the company posted $1.37 earnings per share. Quest Diagnostics’s quarterly revenue was up 2.4% on a year-over-year basis. sell-side analysts anticipate that Quest Diagnostics Inc will post 5.65 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Tuesday, January 9th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Monday, January 8th. Quest Diagnostics’s payout ratio is currently 37.74%.
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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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