Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Quest Diagnostics Incorporated (NYSE:DGX) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,502 shares of the medical research company’s stock, valued at approximately $278,000.

Several other large investors have also recently modified their holdings of DGX. UBS Asset Management Americas Inc. boosted its holdings in shares of Quest Diagnostics by 39.6% during the first quarter. UBS Asset Management Americas Inc. now owns 622,554 shares of the medical research company’s stock worth $61,129,000 after acquiring an additional 176,609 shares during the period. Keybank National Association OH boosted its holdings in shares of Quest Diagnostics by 2.8% during the first quarter. Keybank National Association OH now owns 3,089 shares of the medical research company’s stock worth $303,000 after acquiring an additional 85 shares during the period. Baird Financial Group Inc. boosted its holdings in shares of Quest Diagnostics by 4.2% during the first quarter. Baird Financial Group Inc. now owns 3,122 shares of the medical research company’s stock worth $307,000 after acquiring an additional 125 shares during the period. Martingale Asset Management L P bought a new stake in shares of Quest Diagnostics during the first quarter worth approximately $474,000. Finally, Pacer Advisors Inc. boosted its holdings in shares of Quest Diagnostics by 3.2% during the first quarter. Pacer Advisors Inc. now owns 2,507 shares of the medical research company’s stock worth $246,000 after acquiring an additional 77 shares during the period. Institutional investors own 87.10% of the company’s stock.

Quest Diagnostics Incorporated (NYSE:DGX) opened at 93.09 on Thursday. The firm has a market capitalization of $12.70 billion, a P/E ratio of 18.76 and a beta of 0.69. The firm’s 50-day moving average is $106.58 and its 200 day moving average is $105.42. Quest Diagnostics Incorporated has a 12 month low of $79.12 and a 12 month high of $112.97.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings data 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 company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. Quest Diagnostics had a net margin of 9.28% and a return on equity of 15.66%. Quest Diagnostics’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period last year, the firm earned $1.34 EPS. On average, analysts expect that Quest Diagnostics Incorporated will post $5.69 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 18th. Investors of record on Tuesday, October 3rd will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Monday, October 2nd. Quest Diagnostics’s dividend payout ratio (DPR) is presently 36.29%.

In related news, Director Daniel Stanzione sold 3,803 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $108.01, for a total value of $410,762.03. Following the completion of the transaction, the director now directly owns 35,359 shares of the company’s stock, valued at approximately $3,819,125.59. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 stock was sold at an average price of $106.66, for a total transaction of $31,571.36. Following the completion of the transaction, the director now directly owns 6,000 shares of the company’s stock, valued at $639,960. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 161,996 shares of company stock valued at $17,517,207. 1.75% of the stock is owned by insiders.

A number of brokerages have recently issued reports on DGX. ValuEngine cut Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Tuesday. Raymond James Financial, Inc. restated a “market perform” rating on shares of Quest Diagnostics in a report on Monday. Canaccord Genuity restated a “buy” rating and set a $118.00 price objective on shares of Quest Diagnostics in a report on Wednesday, September 13th. BidaskClub upgraded Quest Diagnostics from a “sell” rating to a “hold” rating in a report on Tuesday, August 15th. Finally, Morgan Stanley boosted their price objective on Quest Diagnostics from $87.00 to $92.00 and gave the stock an “underweight” rating in a report on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $111.09.

WARNING: “2,502 Shares in Quest Diagnostics Incorporated (DGX) Purchased by Los Angeles Capital Management & Equity Research Inc.” was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this story on another publication, it was illegally copied and republished in violation of U.S. and international copyright and trademark laws. The original version of this story can be viewed at https://www.thecerbatgem.com/2017/09/28/2502-shares-in-quest-diagnostics-incorporated-dgx-purchased-by-los-angeles-capital-management-equity-research-inc.html.

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).

Want to see what other hedge funds are holding DGX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quest Diagnostics Incorporated (NYSE:DGX).

Institutional Ownership by Quarter for Quest Diagnostics (NYSE:DGX)

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.