Zurcher Kantonalbank Zurich Cantonalbank Has $10.40 Million Stake in Quest Diagnostics Incorporated (DGX)
Zurcher Kantonalbank Zurich Cantonalbank decreased its position in Quest Diagnostics Incorporated (NYSE:DGX) by 4.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 93,587 shares of the medical research company’s stock after selling 4,345 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.07% of Quest Diagnostics worth $10,403,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the company. YorkBridge Wealth Partners LLC increased its stake in shares of Quest Diagnostics by 1.5% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,188 shares of the medical research company’s stock worth $127,000 after buying an additional 18 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of Quest Diagnostics by 16.1% in the first quarter. Parallel Advisors LLC now owns 1,279 shares of the medical research company’s stock worth $137,000 after buying an additional 177 shares during the last quarter. Trust Co. of Vermont increased its stake in shares of Quest Diagnostics by 8.5% in the first quarter. Trust Co. of Vermont now owns 1,859 shares of the medical research company’s stock worth $182,000 after buying an additional 145 shares during the last quarter. Financial Architects Inc increased its stake in shares of Quest Diagnostics by 5.6% in the second quarter. Financial Architects Inc now owns 1,666 shares of the medical research company’s stock worth $185,000 after buying an additional 88 shares during the last quarter. Finally, Wagner Bowman Management Corp purchased a new stake in shares of Quest Diagnostics during the second quarter worth about $200,000. Hedge funds and other institutional investors own 87.03% of the company’s stock.
Quest Diagnostics Incorporated (NYSE:DGX) opened at 106.79 on Wednesday. Quest Diagnostics Incorporated has a one year low of $79.12 and a one year high of $112.96. The company has a market cap of $14.57 billion, a price-to-earnings ratio of 21.52 and a beta of 0.69. The company has a 50-day moving average of $107.74 and a 200-day moving average of $104.03.
Quest Diagnostics (NYSE:DGX) last released its quarterly earnings results on Tuesday, July 25th. The medical research company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.13. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Quest Diagnostics had a return on equity of 15.66% and a net margin of 9.28%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.34 EPS. Equities research analysts expect that Quest Diagnostics Incorporated will post $5.69 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 18th. Shareholders of record on Tuesday, October 3rd will be issued 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 dividend payout ratio is presently 36.29%.
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A number of brokerages have issued reports on DGX. Zacks Investment Research upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating and set a $122.00 price objective on the stock in a research note on Tuesday, June 6th. BidaskClub upgraded shares of Quest Diagnostics from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 29th. ValuEngine upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Barclays PLC reiterated a “hold” rating and set a $110.00 price objective on shares of Quest Diagnostics in a research note on Wednesday, July 19th. Finally, Mizuho increased their price objective on shares of Quest Diagnostics from $115.00 to $122.00 and gave the stock a “buy” rating in a research note on Monday, June 5th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $109.62.
In other Quest Diagnostics news, Director Jeffrey M. Leiden sold 1,304 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 6,296 shares in the company, valued at approximately $684,564.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey M. Leiden sold 296 shares of the firm’s stock in a transaction that occurred 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 owns 6,000 shares of the company’s stock, valued at approximately $639,960. The disclosure for this sale can be found here. Insiders have sold a total of 61,362 shares of company stock valued at $6,600,758 in the last 90 days. 1.75% of the stock is currently owned by company 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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