Quest Diagnostics Incorporated (DGX) Holdings Cut by Stellar Capital Management LLC
Stellar Capital Management LLC trimmed its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 0.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,506 shares of the medical research company’s stock after selling 155 shares during the period. Quest Diagnostics accounts for 2.2% of Stellar Capital Management LLC’s holdings, making the stock its 18th biggest position. Stellar Capital Management LLC’s holdings in Quest Diagnostics were worth $3,058,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Sun Life Financial INC lifted its holdings in Quest Diagnostics by 14,142.9% during the second quarter. Sun Life Financial INC now owns 997 shares of the medical research company’s stock valued at $111,000 after purchasing an additional 990 shares in the last quarter. Parallel Advisors LLC lifted its holdings in Quest Diagnostics by 16.1% during the first quarter. Parallel Advisors LLC now owns 1,279 shares of the medical research company’s stock valued at $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 second quarter. Acrospire Investment Management LLC now owns 1,600 shares of the medical research company’s stock valued at $178,000 after purchasing an additional 1,200 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in Quest Diagnostics during the second quarter valued at $180,000. Finally, Financial Architects Inc lifted its holdings in Quest Diagnostics by 5.6% during the second quarter. Financial Architects Inc now owns 1,666 shares of the medical research company’s stock valued at $185,000 after purchasing an additional 88 shares in the last quarter. 87.10% of the stock is currently owned by institutional investors and hedge funds.
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In other Quest Diagnostics news, Director Jeffrey M. Leiden sold 1,304 shares of the company’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $108.73, for a total value of $141,783.92. Following the transaction, the director now directly owns 6,296 shares in the company, valued at approximately $684,564.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Stephen H. Rusckowski sold 59,235 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $108.16, for a total transaction of $6,406,857.60. Following the completion of the transaction, the chairman now owns 220,049 shares in the company, valued at $23,800,499.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 161,996 shares of company stock worth $17,517,207. 1.75% of the stock is owned by insiders.
Quest Diagnostics Incorporated (NYSE DGX) traded up 0.90% during midday trading on Wednesday, reaching $91.68. 297,517 shares of the company traded hands. The firm has a market capitalization of $12.51 billion, a PE ratio of 18.48 and a beta of 0.65. Quest Diagnostics Incorporated has a 12 month low of $79.12 and a 12 month high of $112.96. The company’s 50-day moving average price is $101.50 and its 200 day moving average price is $104.98.
Quest Diagnostics (NYSE:DGX) last released its earnings results on Tuesday, July 25th. The medical research company reported $1.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.42 by $0.13. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.94 billion. Quest Diagnostics had a net margin of 9.28% and a return on equity of 15.66%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.34 EPS. On average, equities analysts anticipate that Quest Diagnostics Incorporated will post $5.66 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 18th. Shareholders of record on Tuesday, October 3rd will be issued a $0.45 dividend. The ex-dividend date is Monday, October 2nd. This represents a $1.80 dividend on an annualized basis and a yield of 1.98%. Quest Diagnostics’s dividend payout ratio (DPR) is 36.29%.
Several equities analysts have issued reports on DGX shares. Canaccord Genuity reaffirmed a “buy” rating and set a $118.00 price objective on shares of Quest Diagnostics in a report on Tuesday, June 13th. Evercore ISI reaffirmed an “in-line” rating and set a $104.50 price objective on shares of Quest Diagnostics in a report on Wednesday, June 28th. BidaskClub raised shares of Quest Diagnostics from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 29th. UBS AG increased their price objective on shares of Quest Diagnostics from $115.00 to $123.00 and gave the company a “buy” rating in a report on Thursday, July 6th. Finally, Credit Suisse Group reaffirmed a “neutral” rating and set a $110.00 price objective (up from $83.00) on shares of Quest Diagnostics in a report on Thursday, July 13th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $110.41.
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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