FDx Advisors Inc. Buys 734 Shares of Quest Diagnostics Incorporated (DGX)
FDx Advisors Inc. grew its stake in Quest Diagnostics Incorporated (NYSE:DGX) by 8.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,095 shares of the medical research company’s stock after purchasing an additional 734 shares during the period. FDx Advisors Inc.’s holdings in Quest Diagnostics were worth $852,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in DGX. Thrivent Financial For Lutherans increased its holdings in shares of Quest Diagnostics by 4.5% in the first quarter. Thrivent Financial For Lutherans now owns 5,100 shares of the medical research company’s stock valued at $501,000 after purchasing an additional 220 shares during the period. Aperio Group LLC increased its holdings in shares of Quest Diagnostics by 7.5% in the second quarter. Aperio Group LLC now owns 104,281 shares of the medical research company’s stock valued at $11,592,000 after purchasing an additional 7,231 shares during the period. Bedrijfstakpensioenfonds Voor DE Media PNO acquired a new position in shares of Quest Diagnostics in the second quarter valued at approximately $1,461,000. Prospera Financial Services Inc purchased a new stake in shares of Quest Diagnostics in the second quarter valued at approximately $209,000. Finally, US Bancorp DE boosted its stake in shares of Quest Diagnostics by 0.9% in the second quarter. US Bancorp DE now owns 18,065 shares of the medical research company’s stock valued at $2,008,000 after buying an additional 156 shares in the last quarter. 88.18% of the stock is currently owned by institutional investors and hedge funds.
In other news, Chairman Stephen H. Rusckowski sold 2,525 shares of the stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $108.03, for a total value of $272,775.75. Following the completion of the sale, the chairman now owns 168,413 shares in the company, valued at $18,193,656.39. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Daniel Stanzione sold 3,803 shares of the stock in a transaction dated 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 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. Insiders have sold 160,396 shares of company stock valued at $17,343,852 over the last 90 days. 1.75% of the stock is currently owned by insiders.
DGX has been the topic of a number of analyst reports. Wells Fargo & Company initiated coverage on Quest Diagnostics in a research note on Thursday, October 12th. They issued a “market perform” rating and a $88.00 price target on the stock. Raymond James Financial, Inc. restated a “market perform” rating on shares of Quest Diagnostics in a research note on Monday, September 25th. BidaskClub downgraded Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Bank of America Corporation upgraded Quest Diagnostics from a “neutral” rating to a “buy” rating and lifted their price target for the company from $111.00 to $118.00 in a research note on Tuesday, July 25th. Finally, The Goldman Sachs Group, Inc. downgraded Quest Diagnostics from a “conviction-buy” rating to a “buy” rating and decreased their price target for the company from $121.00 to $113.00 in a research note on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $106.18.
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Shares of Quest Diagnostics Incorporated (NYSE DGX) opened at $92.94 on Friday. The company has a market capitalization of $12,519.10, a PE ratio of 16.46, a price-to-earnings-growth ratio of 1.91 and a beta of 0.59. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.37 and a current ratio of 1.47. Quest Diagnostics Incorporated has a 12 month low of $84.58 and a 12 month high of $112.96.
Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings results on Thursday, October 19th. The medical research company reported $1.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.04. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.92 billion. Quest Diagnostics had a return on equity of 15.53% and a net margin of 8.82%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.37 earnings per share. sell-side analysts anticipate that Quest Diagnostics Incorporated will post 5.65 EPS for the current fiscal year.
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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