Quest Diagnostics Incorporated (DGX) Position Lifted by Pacer Advisors Inc.
Pacer Advisors Inc. increased its stake in Quest Diagnostics Incorporated (NYSE:DGX) by 8.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,710 shares of the medical research company’s stock after purchasing an additional 203 shares during the period. Pacer Advisors Inc.’s holdings in Quest Diagnostics were worth $301,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of DGX. BlackRock Inc. increased its position in shares of Quest Diagnostics by 2,638.3% in the first quarter. BlackRock Inc. now owns 15,362,418 shares of the medical research company’s stock worth $1,508,435,000 after purchasing an additional 14,801,397 shares during the period. Robeco Institutional Asset Management B.V. increased its position in shares of 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 purchasing an additional 793,085 shares during the period. MARSHALL WACE ASIA Ltd bought a new position in shares of Quest Diagnostics in the first quarter worth $74,201,000. Marshall Wace North America L.P. bought a new position in shares of Quest Diagnostics in the first quarter worth $74,201,000. Finally, Renaissance Technologies LLC increased its position in shares of Quest Diagnostics by 755.2% in the first quarter. Renaissance Technologies LLC now owns 503,700 shares of the medical research company’s stock worth $49,458,000 after purchasing an additional 444,800 shares during the period. Institutional investors own 87.07% of the company’s stock.
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A number of research firms have issued reports on DGX. UBS AG lifted their target price on Quest Diagnostics from $115.00 to $123.00 and gave the company a “buy” rating in a research report on Thursday, July 6th. BidaskClub upgraded Quest Diagnostics from a “sell” rating to a “hold” rating in a research report on Tuesday, August 15th. Canaccord Genuity reiterated a “buy” rating and issued a $118.00 target price on shares of Quest Diagnostics in a research report on Wednesday. Zacks Investment Research upgraded Quest Diagnostics from a “hold” rating to a “buy” rating and set a $121.00 target price on the stock in a research report on Wednesday, August 2nd. Finally, Morgan Stanley lifted their target price on Quest Diagnostics from $87.00 to $92.00 and gave the company an “underweight” rating in a research report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Quest Diagnostics currently has a consensus rating of “Buy” and a consensus target price of $111.09.
Shares of Quest Diagnostics Incorporated (NYSE:DGX) opened at 107.53 on Wednesday. The stock’s 50 day moving average price is $107.21 and its 200-day moving average price is $105.11. Quest Diagnostics Incorporated has a 52 week low of $79.12 and a 52 week high of $112.97. The firm has a market capitalization of $14.67 billion, a price-to-earnings ratio of 21.67 and a beta of 0.69.
Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings data on Tuesday, July 25th. The medical research company reported $1.55 EPS for the quarter, beating 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%. The company’s revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.34 EPS. Equities analysts predict that Quest Diagnostics Incorporated will post $5.69 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 18th. Stockholders 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 1.67%. Quest Diagnostics’s dividend payout ratio (DPR) is presently 36.29%.
In other news, SVP Catherine T. Doherty sold 59,762 shares of the stock in a transaction dated 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 transaction, the senior vice president now directly owns 78,582 shares in the company, valued at approximately $8,451,494.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Stephen H. Rusckowski sold 2,525 shares of the stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $108.03, for a total value of $272,775.75. Following the transaction, the chairman now owns 168,413 shares in the company, valued at $18,193,656.39. The disclosure for this sale can be found here. Insiders have sold a total of 67,690 shares of company stock worth $7,284,296 over the last quarter. Corporate insiders own 1.75% of the company’s stock.
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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