Quest Diagnostics Incorporated (DGX) Holdings Trimmed by Public Sector Pension investment Board
Public Sector Pension investment Board trimmed its position in Quest Diagnostics Incorporated (NYSE:DGX) by 50.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,483 shares of the medical research company’s stock after selling 15,600 shares during the period. Public Sector Pension investment Board’s holdings in Quest Diagnostics were worth $1,721,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently made changes to their positions in DGX. BlackRock Inc. boosted its stake in 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 valued at $1,508,435,000 after acquiring an additional 14,801,397 shares in the last quarter. AJO LP boosted its stake in Quest Diagnostics by 137.9% in the second quarter. AJO LP now owns 2,134,245 shares of the medical research company’s stock valued at $237,243,000 after acquiring an additional 1,237,021 shares in 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 valued at $116,035,000 after acquiring an additional 793,085 shares in the last quarter. MARSHALL WACE ASIA Ltd acquired a new stake in Quest Diagnostics in the first quarter valued at approximately $74,201,000. Finally, Marshall Wace North America L.P. acquired a new stake in Quest Diagnostics in the first quarter valued at approximately $74,201,000. Institutional investors own 87.10% of the company’s stock.
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Quest Diagnostics Incorporated (NYSE DGX) opened at 93.09 on Thursday. The company’s 50 day moving average is $106.58 and its 200 day moving average is $105.42. The stock has a market cap of $12.70 billion, a PE ratio of 18.76 and a beta of 0.69. Quest Diagnostics Incorporated has a one year low of $79.12 and a one year high of $112.97.
Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Tuesday, July 25th. The medical research company reported $1.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.42 by $0.13. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Quest Diagnostics had a net margin of 9.28% and a return on equity of 15.66%. Quest Diagnostics’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.34 EPS. On average, equities research analysts expect that Quest Diagnostics Incorporated will post $5.69 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 18th. Investors of record on Tuesday, October 3rd will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend is Monday, October 2nd. Quest Diagnostics’s dividend payout ratio is currently 36.29%.
In related news, Director Jeffrey M. Leiden sold 296 shares of the stock in a transaction on Friday, August 4th. The shares were sold at an average price of $106.66, for a total transaction of $31,571.36. Following the completion of the sale, the director now owns 6,000 shares in the company, valued at approximately $639,960. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Daniel Stanzione sold 3,803 shares of the stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $108.01, for a total transaction of $410,762.03. Following the sale, the director now owns 35,359 shares of the company’s stock, valued at approximately $3,819,125.59. The disclosure for this sale can be found here. In the last quarter, insiders have sold 161,996 shares of company stock valued at $17,517,207. 1.75% of the stock is owned by company insiders.
Several equities research analysts have weighed in on DGX shares. Raymond James Financial, Inc. restated a “market perform” rating on shares of Quest Diagnostics in a research note on Monday. ValuEngine upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. BidaskClub upgraded shares of Quest Diagnostics from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 29th. Canaccord Genuity restated a “buy” rating and issued a $118.00 target price on shares of Quest Diagnostics in a research note on Tuesday, June 13th. Finally, Zacks Investment Research downgraded shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Monday, June 5th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $111.09.
Quest Diagnostics 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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