Norinchukin Bank The Raises Position in Quest Diagnostics Inc (DGX)
Norinchukin Bank The raised its position in shares of Quest Diagnostics Inc (NYSE:DGX) by 217.1% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,671 shares of the medical research company’s stock after buying an additional 18,260 shares during the period. Norinchukin Bank The’s holdings in Quest Diagnostics were worth $2,619,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Norges Bank acquired a new position in shares of Quest Diagnostics during the fourth quarter worth $150,523,000. Victory Capital Management Inc. boosted its position in shares of Quest Diagnostics by 42.1% in the third quarter. Victory Capital Management Inc. now owns 1,788,803 shares of the medical research company’s stock worth $151,386,000 after buying an additional 530,043 shares during the period. Russell Investments Group Ltd. acquired a new position in shares of Quest Diagnostics during the fourth quarter worth $43,286,000. State Street Corp boosted its position in shares of Quest Diagnostics by 7.4% in the fourth quarter. State Street Corp now owns 6,738,210 shares of the medical research company’s stock worth $619,233,000 after buying an additional 462,214 shares during the period. Finally, Janus Capital Management LLC boosted its position in shares of Quest Diagnostics by 86.0% in the fourth quarter. Janus Capital Management LLC now owns 997,531 shares of the medical research company’s stock worth $91,674,000 after buying an additional 461,187 shares during the period. Hedge funds and other institutional investors own 87.71% of the company’s stock.
Shares of Quest Diagnostics Inc (NYSE:DGX) traded down 0.04% during mid-day trading on Tuesday, hitting $106.51. 518,289 shares of the stock traded hands. The stock has a 50-day moving average of $103.31 and a 200 day moving average of $95.35. The stock has a market cap of $14.57 billion, a PE ratio of 21.44 and a beta of 0.68. Quest Diagnostics Inc has a one year low of $75.20 and a one year high of $108.21.
Quest Diagnostics (NYSE:DGX) last released its quarterly earnings data on Thursday, April 20th. The medical research company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.15. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.87 billion. Quest Diagnostics had a net margin of 8.56% and a return on equity of 14.61%. The firm’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.12 earnings per share. Equities analysts predict that Quest Diagnostics Inc will post $5.56 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 24th. Shareholders of record on Monday, July 10th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Thursday, July 6th. Quest Diagnostics’s dividend payout ratio is presently 40.00%.
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DGX has been the subject of a number of research reports. Goldman Sachs Group Inc upgraded shares of Quest Diagnostics from a “buy” rating to a “conviction-buy” rating and set a $113.00 price objective for the company in a report on Tuesday, March 14th. Zacks Investment Research upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a report on Wednesday, March 29th. Jefferies Group LLC reiterated a “hold” rating and set a $96.00 price target on shares of Quest Diagnostics in a report on Thursday, March 16th. Mizuho reiterated a “buy” rating and set a $90.00 price target (down previously from $103.00) on shares of Quest Diagnostics in a report on Friday, April 14th. Finally, Bank of America Corp upgraded shares of Quest Diagnostics from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $85.00 to $103.00 in a report on Thursday, March 16th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Quest Diagnostics currently has an average rating of “Hold” and a consensus price target of $107.27.
In other Quest Diagnostics news, Director Jenne K. Britell sold 6,111 shares of the firm’s stock in a transaction on Monday, April 24th. The stock was sold at an average price of $104.03, for a total value of $635,727.33. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Catherine T. Doherty sold 7,162 shares of the firm’s stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $98.28, for a total value of $703,881.36. Following the completion of the sale, the senior vice president now owns 87,809 shares in the company, valued at $8,629,868.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 57,213 shares of company stock valued at $5,732,460. 1.50% of the stock is currently owned by corporate insiders.
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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