Quest Diagnostics Incorporated (DGX) Stake Boosted by SG Americas Securities LLC
SG Americas Securities LLC increased its stake in Quest Diagnostics Incorporated (NYSE:DGX) by 38.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 116,012 shares of the medical research company’s stock after buying an additional 32,072 shares during the period. SG Americas Securities LLC’s holdings in Quest Diagnostics were worth $12,896,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of DGX. State of Alaska Department of Revenue raised its stake in Quest Diagnostics by 82.2% in the first quarter. State of Alaska Department of Revenue now owns 43,609 shares of the medical research company’s stock worth $4,280,000 after buying an additional 19,669 shares during the last quarter. Huntington National Bank raised its stake in Quest Diagnostics by 3.1% in the first quarter. Huntington National Bank now owns 18,316 shares of the medical research company’s stock worth $1,799,000 after buying an additional 550 shares during the last quarter. Oakbrook Investments LLC raised its stake in Quest Diagnostics by 74.0% in the first quarter. Oakbrook Investments LLC now owns 11,400 shares of the medical research company’s stock worth $1,119,000 after buying an additional 4,850 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in Quest Diagnostics by 9.3% in the first quarter. Nisa Investment Advisors LLC now owns 31,687 shares of the medical research company’s stock worth $3,111,000 after buying an additional 2,695 shares during the last quarter. Finally, Perkins Capital Management Inc. acquired a new stake in Quest Diagnostics during the first quarter worth about $201,000. 90.06% of the stock is owned by institutional investors.
Quest Diagnostics Incorporated (NYSE:DGX) opened at 106.60 on Wednesday. The stock has a market capitalization of $14.54 billion, a price-to-earnings ratio of 21.48 and a beta of 0.69. Quest Diagnostics Incorporated has a 52 week low of $79.12 and a 52 week high of $112.96. The firm has a 50-day moving average of $108.63 and a 200 day moving average of $103.40.
Quest Diagnostics (NYSE:DGX) last released its quarterly earnings results on Tuesday, July 25th. The medical research company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.42 by $0.13. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.94 billion. Quest Diagnostics had a return on equity of 15.66% and a net margin of 9.28%. Quest Diagnostics’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.34 EPS. On average, analysts anticipate that Quest Diagnostics Incorporated will post $5.69 EPS for the current year.
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A number of equities research analysts have recently issued reports on DGX shares. Raymond James Financial, Inc. raised shares of Quest Diagnostics from a “market perform” rating to an “outperform” rating and set a $116.00 target price for the company in a report on Friday, April 21st. Zacks Investment Research lowered shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Monday, May 22nd. BidaskClub lowered shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Mizuho upped their target price on shares of Quest Diagnostics from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, April 26th. Finally, Credit Suisse Group reaffirmed a “neutral” rating and set a $110.00 target price (up previously from $83.00) on shares of Quest Diagnostics in a report on Thursday, July 13th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $109.62.
In other Quest Diagnostics news, SVP Catherine T. Doherty sold 59,762 shares of Quest Diagnostics stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $107.55, for a total transaction of $6,427,403.10. Following the sale, the senior vice president now directly owns 78,582 shares in the company, valued at approximately $8,451,494.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey M. Leiden sold 1,304 shares of Quest Diagnostics stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $108.73, for a total value of $141,783.92. Following the sale, the director now owns 6,296 shares in the company, valued at $684,564.08. The disclosure for this sale can be found here. Insiders have sold a total of 61,362 shares of company stock worth $6,600,758 over the last 90 days. 1.50% of the stock is owned by company insiders.
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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