Mitsubishi UFJ Trust & Banking Corp Reduces Stake in Quest Diagnostics Incorporated (DGX)
Mitsubishi UFJ Trust & Banking Corp cut its position in Quest Diagnostics Incorporated (NYSE:DGX) by 0.5% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 326,133 shares of the medical research company’s stock after selling 1,734 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.24% of Quest Diagnostics worth $36,253,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in Quest Diagnostics by 14.3% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 34,518 shares of the medical research company’s stock worth $3,837,000 after buying an additional 4,328 shares during the last quarter. Airain ltd boosted its stake in Quest Diagnostics by 184.1% in the second quarter. Airain ltd now owns 14,539 shares of the medical research company’s stock worth $1,616,000 after buying an additional 9,422 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in Quest Diagnostics by 316.2% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,043,889 shares of the medical research company’s stock worth $116,035,000 after buying an additional 793,085 shares during the last quarter. GHP Investment Advisors Inc. boosted its stake in Quest Diagnostics by 6.2% in the second quarter. GHP Investment Advisors Inc. now owns 8,183 shares of the medical research company’s stock worth $910,000 after buying an additional 478 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in Quest Diagnostics by 0.9% in the second quarter. Parallel Advisors LLC now owns 1,291 shares of the medical research company’s stock worth $140,000 after buying an additional 12 shares during the last quarter. Institutional investors and hedge funds own 87.03% of the company’s stock.
Quest Diagnostics Incorporated (NYSE DGX) opened at 107.26 on Thursday. The company has a market capitalization of $14.63 billion, a price-to-earnings ratio of 21.62 and a beta of 0.69. The company’s 50 day moving average is $107.74 and its 200-day moving average is $104.03. Quest Diagnostics Incorporated has a 52-week low of $79.12 and a 52-week high of $112.96.
Quest Diagnostics (NYSE:DGX) last posted its earnings results on Tuesday, July 25th. The medical research company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.13. Quest Diagnostics had a return on equity of 15.66% and a net margin of 9.28%. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the previous year, the firm earned $1.34 earnings per share. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. Equities analysts anticipate that Quest Diagnostics Incorporated will post $5.69 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 18th. Shareholders of record on Tuesday, October 3rd will be paid a $0.45 dividend. The ex-dividend date of this dividend is Monday, October 2nd. This represents a $1.80 annualized dividend and a yield of 1.68%. Quest Diagnostics’s dividend payout ratio (DPR) is presently 36.29%.
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A number of research firms have commented on DGX. BidaskClub upgraded shares of Quest Diagnostics from a “sell” rating to a “hold” rating in a report on Tuesday, August 15th. Morgan Stanley raised their price target on shares of Quest Diagnostics from $87.00 to $92.00 and gave the stock an “underweight” rating in a report on Thursday, August 10th. Zacks Investment Research cut shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Bank of America Corporation upgraded shares of Quest Diagnostics from a “neutral” rating to a “buy” rating and raised their price target for the stock from $111.00 to $118.00 in a report on Tuesday, July 25th. Finally, Piper Jaffray Companies raised their price target on shares of Quest Diagnostics to $107.00 and gave the stock a “neutral” rating in a report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $109.62.
In other Quest Diagnostics news, SVP Catherine T. Doherty sold 59,762 shares of Quest Diagnostics stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $107.55, for a total value of $6,427,403.10. Following the transaction, the senior vice president now owns 78,582 shares in the company, valued at $8,451,494.10. The transaction was disclosed in a legal filing 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 dated Thursday, July 27th. The shares were sold at an average price of $108.73, for a total value 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 disclosure for this sale can be found here. Insiders sold 61,362 shares of company stock worth $6,600,758 in the last quarter. 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).
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