Mutual of America Capital Management LLC Has $1.86 Million Position in Quest Diagnostics Incorporated (DGX)
Mutual of America Capital Management LLC trimmed its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 55.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,721 shares of the medical research company’s stock after selling 21,021 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Quest Diagnostics were worth $1,859,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DGX. Parallel Advisors LLC grew its stake in Quest Diagnostics by 16.1% during the 1st quarter. Parallel Advisors LLC now owns 1,279 shares of the medical research company’s stock worth $137,000 after purchasing an additional 177 shares in the last quarter. Acrospire Investment Management LLC lifted its holdings in Quest Diagnostics by 300.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,600 shares of the medical research company’s stock worth $178,000 after buying an additional 1,200 shares during the last quarter. Financial Architects Inc lifted its holdings in Quest Diagnostics by 5.6% during the 2nd quarter. Financial Architects Inc now owns 1,666 shares of the medical research company’s stock worth $185,000 after buying an additional 88 shares during the last quarter. Wagner Bowman Management Corp purchased a new stake in Quest Diagnostics during the 2nd quarter worth about $200,000. Finally, Stratos Wealth Partners LTD. purchased a new stake in Quest Diagnostics during the 2nd quarter worth about $200,000. 87.10% of the stock is owned by hedge funds and other institutional investors.
In other Quest Diagnostics news, Chairman Stephen H. Rusckowski sold 59,235 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $108.16, for a total value of $6,406,857.60. Following the transaction, the chairman now owns 220,049 shares of the company’s stock, valued at $23,800,499.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey M. Leiden sold 1,304 shares of the firm’s stock in a transaction dated 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 directly owns 6,296 shares in the company, valued at approximately $684,564.08. The disclosure for this sale can be found here. Insiders sold 161,996 shares of company stock valued at $17,517,207 over the last quarter. Insiders own 1.75% of the company’s stock.
Shares of Quest Diagnostics Incorporated (DGX) opened at 92.96 on Thursday. Quest Diagnostics Incorporated has a 12-month low of $79.12 and a 12-month high of $112.97. The stock has a market capitalization of $12.68 billion, a P/E ratio of 18.73 and a beta of 0.65. The stock has a 50 day moving average price of $103.08 and a 200 day moving average price of $105.14.
Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings results on Tuesday, July 25th. The medical research company reported $1.55 EPS for the quarter, topping the Zacks’ 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%. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the firm earned $1.34 earnings per share. On average, equities analysts anticipate that Quest Diagnostics Incorporated will post $5.67 earnings per share for the current fiscal year.
The company 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 $0.45 dividend. The ex-dividend date of this dividend is Monday, October 2nd. This represents a $1.80 dividend on an annualized basis and a yield of 1.94%. Quest Diagnostics’s dividend payout ratio (DPR) is 36.29%.
DGX has been the subject of a number of recent analyst reports. Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of Quest Diagnostics in a report on Monday, September 25th. BidaskClub downgraded Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Bank of America Corporation raised Quest Diagnostics from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $111.00 to $118.00 in a report on Tuesday, July 25th. Credit Suisse Group decreased their price target on Quest Diagnostics from $110.00 to $99.00 and set a “neutral” rating for the company in a report on Thursday, September 28th. Finally, Zacks Investment Research downgraded Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Quest Diagnostics has a consensus rating of “Hold” and an average target price of $110.41.
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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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