Quest Diagnostics Inc (DGX) Position Reduced by Bokf Na
Bokf Na lessened its stake in Quest Diagnostics Inc (NYSE:DGX) by 1.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 28,566 shares of the medical research company’s stock after selling 341 shares during the quarter. Bokf Na’s holdings in Quest Diagnostics were worth $2,379,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the stock. Benjamin F. Edwards & Company Inc. increased its stake in Quest Diagnostics by 32.7% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 544 shares of the medical research company’s stock worth $45,000 after buying an additional 134 shares during the period. Moody National Bank Trust Division increased its stake in Quest Diagnostics by 1.5% in the 4th quarter. Moody National Bank Trust Division now owns 12,082 shares of the medical research company’s stock worth $1,006,000 after buying an additional 182 shares during the period. ETF Managers Group LLC increased its stake in Quest Diagnostics by 17.7% in the 4th quarter. ETF Managers Group LLC now owns 1,322 shares of the medical research company’s stock worth $110,000 after buying an additional 199 shares during the period. Pinnacle Associates Ltd. increased its stake in Quest Diagnostics by 1.6% in the 4th quarter. Pinnacle Associates Ltd. now owns 13,554 shares of the medical research company’s stock worth $1,129,000 after buying an additional 216 shares during the period. Finally, Commonwealth Bank of Australia grew its holdings in Quest Diagnostics by 1.4% during the 4th quarter. Commonwealth Bank of Australia now owns 19,523 shares of the medical research company’s stock worth $1,620,000 after acquiring an additional 262 shares in the last quarter. 88.21% of the stock is currently owned by institutional investors.
Several research analysts have issued reports on DGX shares. Mizuho set a $108.00 target price on shares of Quest Diagnostics and gave the stock a “buy” rating in a report on Tuesday, November 20th. ValuEngine cut shares of Quest Diagnostics from a “hold” rating to a “sell” rating in a report on Friday, November 30th. Goldman Sachs Group cut shares of Quest Diagnostics from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $110.00 to $90.00 in a report on Friday, November 30th. Canaccord Genuity reiterated a “buy” rating and set a $98.00 target price on shares of Quest Diagnostics in a report on Friday, November 30th. Finally, Morgan Stanley dropped their target price on shares of Quest Diagnostics from $120.00 to $107.00 and set an “overweight” rating on the stock in a report on Friday, November 30th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $102.82.
Quest Diagnostics (NYSE:DGX) last released its quarterly earnings results on Thursday, February 14th. The medical research company reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.01). Quest Diagnostics had a net margin of 9.77% and a return on equity of 15.23%. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the prior year, the business posted $1.40 earnings per share. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. As a group, equities research analysts forecast that Quest Diagnostics Inc will post 6.45 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 22nd. Stockholders of record on Monday, April 8th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend is Friday, April 5th. Quest Diagnostics’s dividend payout ratio is currently 33.60%.
In other news, SVP Michael E. Prevoznik sold 336 shares of the firm’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $88.23, for a total value of $29,645.28. Following the sale, the senior vice president now directly owns 42,108 shares in the company, valued at approximately $3,715,188.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gail R. Wilensky sold 8,000 shares of the firm’s stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $87.78, for a total transaction of $702,240.00. Following the completion of the sale, the director now owns 34,604 shares in the company, valued at $3,037,539.12. The disclosure for this sale can be found here. Insiders sold a total of 13,724 shares of company stock worth $1,199,363 over the last 90 days. Company insiders own 1.79% of the company’s stock.
Quest Diagnostics Profile
Quest Diagnostics Incorporated provides diagnostic testing information and services in the United States and internationally. The company's Diagnostic Information Services business segment develops and delivers diagnostic testing information and services, such as routine testing, non-routine and advanced clinical testing, gene-based and esoteric testing, anatomic pathology, and other diagnostic information services.
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