Horseman Capital Management Ltd Invests $1.11 Million in Quest Diagnostics Incorporated (DGX)
Horseman Capital Management Ltd purchased a new stake in Quest Diagnostics Incorporated (NYSE:DGX) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 10,000 shares of the medical research company’s stock, valued at approximately $1,112,000.
A number of other institutional investors also recently added to or reduced their stakes in the company. Mcmillion Capital Management Inc. bought a new position in Quest Diagnostics during the second quarter valued at approximately $222,000. Oppenheimer & Co. Inc. raised its position in Quest Diagnostics by 1.4% in the second quarter. Oppenheimer & Co. Inc. now owns 59,087 shares of the medical research company’s stock valued at $6,568,000 after buying an additional 818 shares during the period. Cipher Capital LP raised its position in Quest Diagnostics by 108.2% in the second quarter. Cipher Capital LP now owns 86,312 shares of the medical research company’s stock valued at $9,594,000 after buying an additional 44,864 shares during the period. Westpac Banking Corp raised its position in Quest Diagnostics by 13.9% in the second quarter. Westpac Banking Corp now owns 64,783 shares of the medical research company’s stock valued at $7,201,000 after buying an additional 7,919 shares during the period. Finally, Delta Lloyd Asset Management N.V. bought a new position in Quest Diagnostics during the second quarter valued at approximately $2,364,000. 87.03% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Quest Diagnostics Incorporated (NYSE DGX) traded down 0.40% on Friday, reaching $107.92. The company had a trading volume of 92,221 shares. The firm has a market capitalization of $14.72 billion, a PE ratio of 21.75 and a beta of 0.69. Quest Diagnostics Incorporated has a 12 month low of $79.12 and a 12 month high of $112.96. The company’s 50-day moving average is $107.56 and its 200 day moving average is $104.43.
Quest Diagnostics (NYSE:DGX) last posted its earnings results on Tuesday, July 25th. The medical research company reported $1.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.42 by $0.13. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate 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 was up 1.9% on a year-over-year basis. During the same quarter last year, the company earned $1.34 EPS. Equities analysts forecast that Quest Diagnostics Incorporated will post $5.69 earnings per share for the current year.
The business also recently announced 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. The ex-dividend date is Monday, October 2nd. This represents a $1.80 annualized dividend and a dividend yield of 1.66%. Quest Diagnostics’s dividend payout ratio (DPR) is presently 36.29%.
Several equities analysts recently commented on the company. BidaskClub raised Quest Diagnostics from a “sell” rating to a “hold” rating in a research report on Tuesday, August 15th. Morgan Stanley boosted their price target on Quest Diagnostics from $87.00 to $92.00 and gave the stock an “underweight” rating in a research report on Thursday, August 10th. Zacks Investment Research lowered Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Bank of America Corporation raised Quest Diagnostics from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $111.00 to $118.00 in a research report on Tuesday, July 25th. Finally, Piper Jaffray Companies boosted their price target on Quest Diagnostics to $107.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Quest Diagnostics has an average rating of “Hold” and a consensus target price of $109.62.
In related 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 filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Catherine T. Doherty sold 59,762 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $8,451,494.10. 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 owned by corporate 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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