Quest Diagnostics Inc. (DGX) Shares Sold by GAM Holding AG
GAM Holding AG decreased its stake in shares of Quest Diagnostics Inc. (NYSE:DGX) by 42.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 69,596 shares of the company’s stock after selling 50,450 shares during the period. GAM Holding AG owned approximately 0.05% of Quest Diagnostics worth $5,890,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. Candriam Luxembourg S.C.A. boosted its position in Quest Diagnostics by 47.2% in the second quarter. Candriam Luxembourg S.C.A. now owns 217,486 shares of the company’s stock valued at $17,706,000 after buying an additional 69,734 shares during the period. Schroder Investment Management Group boosted its position in Quest Diagnostics by 63.6% in the second quarter. Schroder Investment Management Group now owns 2,521,800 shares of the company’s stock valued at $205,300,000 after buying an additional 980,063 shares during the period. Wedge Capital Management L L P NC boosted its position in Quest Diagnostics by 3,976.9% in the second quarter. Wedge Capital Management L L P NC now owns 579,537 shares of the company’s stock valued at $13,399,000 after buying an additional 565,322 shares during the period. Everence Capital Management Inc. acquired a new position in Quest Diagnostics during the second quarter valued at approximately $309,000. Finally, Oak Associates Ltd. OH boosted its position in Quest Diagnostics by 19.2% in the second quarter. Oak Associates Ltd. OH now owns 25,400 shares of the company’s stock valued at $2,068,000 after buying an additional 4,100 shares during the period. Institutional investors own 86.81% of the company’s stock.
Shares of Quest Diagnostics Inc. (NYSE:DGX) traded up 0.53% on Tuesday, hitting $88.70. The stock had a trading volume of 708,834 shares. The company has a market cap of $12.30 billion, a price-to-earnings ratio of 18.82 and a beta of 0.62. Quest Diagnostics Inc. has a 52 week low of $59.66 and a 52 week high of $89.13. The firm has a 50 day moving average price of $83.50 and a 200-day moving average price of $82.31.
Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings data on Thursday, October 20th. The company reported $1.37 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.02. Quest Diagnostics had a return on equity of 14.57% and a net margin of 9.01%. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter last year, the firm earned $1.28 EPS. Quest Diagnostics’s revenue for the quarter was up .3% compared to the same quarter last year. Analysts anticipate that Quest Diagnostics Inc. will post $5.10 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 25th. Stockholders of record on Tuesday, January 10th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.04%. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.40. Quest Diagnostics’s dividend payout ratio (DPR) is presently 34.04%.
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Several brokerages recently issued reports on DGX. Citigroup Inc. began coverage on Quest Diagnostics in a research note on Friday, September 9th. They set a “neutral” rating and a $86.00 price objective on the stock. Canaccord Genuity set a $90.00 price objective on Quest Diagnostics and gave the stock a “buy” rating in a research note on Wednesday, September 14th. Zacks Investment Research upgraded Quest Diagnostics from a “hold” rating to a “buy” rating and set a $93.00 price objective on the stock in a research note on Wednesday, September 21st. Mizuho cut Quest Diagnostics from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $84.00 to $86.00 in a research note on Wednesday, August 31st. Finally, Bank of America Corp. restated a “sell” rating and set a $78.00 price objective on shares of Quest Diagnostics in a research note on Monday, November 14th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $83.14.
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 Company’s Diagnostic Information Services business develops and delivers diagnostic testing information and services to patients, physicians, health plans, hospitals, accountable care organizations (ACOs), integrated delivery networks (IDNs), other commercial laboratories, employers and others.
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