Quest Diagnostics Incorporated (DGX) Stake Boosted by GAM Holding AG
GAM Holding AG increased its stake in Quest Diagnostics Incorporated (NYSE:DGX) by 51.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 67,506 shares of the medical research company’s stock after buying an additional 22,876 shares during the period. GAM Holding AG’s holdings in Quest Diagnostics were worth $7,504,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the company. Meeder Asset Management Inc. raised its stake in shares of Quest Diagnostics by 55.9% in the second quarter. Meeder Asset Management Inc. now owns 34,817 shares of the medical research company’s stock valued at $3,870,000 after buying an additional 12,478 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Quest Diagnostics by 0.6% in the first quarter. Bank of America Corp DE now owns 1,887,303 shares of the medical research company’s stock valued at $185,315,000 after buying an additional 11,399 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Quest Diagnostics during the first quarter valued at approximately $458,000. Chicago Equity Partners LLC raised its stake in shares of Quest Diagnostics by 9.3% in the first quarter. Chicago Equity Partners LLC now owns 2,700 shares of the medical research company’s stock valued at $265,000 after buying an additional 230 shares during the last quarter. Finally, Elkhorn Investments LLC bought a new stake in shares of Quest Diagnostics during the first quarter valued at approximately $1,128,000. 90.06% of the stock is owned by institutional investors.
Quest Diagnostics Incorporated (NYSE:DGX) opened at 106.74 on Thursday. The firm has a market cap of $14.56 billion, a PE ratio of 21.51 and a beta of 0.69. The stock’s 50 day moving average is $107.91 and its 200 day moving average is $103.91. Quest Diagnostics Incorporated has a 12 month low of $79.12 and a 12 month high of $112.96.
Quest Diagnostics (NYSE:DGX) last announced its earnings results on Tuesday, July 25th. The medical research company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.13. The company 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.34 earnings per share. On average, equities analysts forecast that Quest Diagnostics Incorporated will post $5.69 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 18th. Investors of record on Tuesday, October 3rd will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend is Monday, October 2nd. Quest Diagnostics’s payout ratio is 36.29%.
DGX has been the subject of several recent analyst reports. 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 lifted their target price on shares of Quest Diagnostics from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, April 26th. 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 research note on Thursday, July 13th. They noted that the move was a valuation call. Finally, Bank of America Corporation reaffirmed a “neutral” rating and set a $110.00 target price (up previously from $105.00) on shares of Quest Diagnostics in a research note on Sunday, May 28th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $109.62.
In related news, Director Jeffrey M. Leiden sold 1,304 shares of the company’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $108.73, for a total transaction of $141,783.92. Following the transaction, the director now directly owns 6,296 shares of the company’s stock, valued at $684,564.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey M. Leiden sold 296 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $106.66, for a total value of $31,571.36. Following the transaction, the director now directly owns 6,000 shares in the company, valued at $639,960. The disclosure for this sale can be found here. Insiders have sold 61,362 shares of company stock worth $6,600,758 over the last three months. 1.75% of the stock is owned by 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).
Receive News & Stock Ratings for Quest Diagnostics Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quest Diagnostics Incorporated and related stocks with our FREE daily email newsletter.