2,502 Shares in Quest Diagnostics Incorporated (DGX) Purchased by Los Angeles Capital Management & Equity Research Inc.
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.
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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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