Quest Diagnostics Incorporated (DGX) Shares Bought by Rhumbline Advisers
Rhumbline Advisers increased its position in Quest Diagnostics Incorporated (NYSE:DGX) by 4.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 321,003 shares of the medical research company’s stock after buying an additional 13,503 shares during the quarter. Rhumbline Advisers owned about 0.24% of Quest Diagnostics worth $30,059,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Quest Diagnostics by 4.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,092,810 shares of the medical research company’s stock valued at $102,331,000 after buying an additional 48,921 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in shares of Quest Diagnostics by 4.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 487,316 shares of the medical research company’s stock valued at $54,171,000 after buying an additional 18,968 shares during the period. Commonwealth Bank of Australia lifted its holdings in shares of Quest Diagnostics by 6.6% in the second quarter. Commonwealth Bank of Australia now owns 22,604 shares of the medical research company’s stock valued at $2,511,000 after buying an additional 1,398 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Quest Diagnostics by 12.7% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 33,104 shares of the medical research company’s stock valued at $3,680,000 after buying an additional 3,719 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings in shares of Quest Diagnostics by 76.1% in the second quarter. Alliancebernstein L.P. now owns 1,144,504 shares of the medical research company’s stock valued at $127,223,000 after buying an additional 494,535 shares during the period. Institutional investors and hedge funds own 88.18% of the company’s stock.
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Quest Diagnostics Incorporated (NYSE:DGX) opened at $93.04 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.47 and a quick ratio of 1.37. Quest Diagnostics Incorporated has a 52-week low of $85.24 and a 52-week high of $112.96. The firm has a market capitalization of $12,670.00, a PE ratio of 16.56, a price-to-earnings-growth ratio of 1.93 and a beta of 0.59.
Quest Diagnostics (NYSE:DGX) last issued its earnings results on Thursday, October 19th. The medical research company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.04. Quest Diagnostics had a return on equity of 15.53% and a net margin of 8.82%. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same period in the prior year, the firm posted $1.37 EPS. The business’s revenue was up 2.4% compared to the same quarter last year. sell-side analysts anticipate that Quest Diagnostics Incorporated will post 5.65 earnings per share for the current year.
DGX has been the topic of a number of recent analyst reports. KeyCorp reaffirmed a “hold” rating on shares of Quest Diagnostics in a research report on Friday, October 27th. ValuEngine raised Quest Diagnostics from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Wells Fargo & Company cut their target price on Quest Diagnostics from $88.00 to $86.00 and set a “market perform” rating on the stock in a research report on Friday, October 20th. Zacks Investment Research lowered Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Finally, The Goldman Sachs Group, Inc. lowered Quest Diagnostics from a “conviction-buy” rating to a “buy” rating and cut their target price for the stock from $121.00 to $113.00 in a research report on Tuesday, October 10th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the stock. Quest Diagnostics presently has a consensus rating of “Hold” and a consensus price target of $106.18.
In other news, CEO Stephen H. Rusckowski sold 53,933 shares of the company’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $108.16, for a total transaction of $5,833,393.28. Following the completion of the sale, the chief executive officer now owns 220,049 shares in the company, valued at approximately $23,800,499.84. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel Stanzione sold 3,803 shares of the company’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $108.01, for a total value 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. Over the last ninety days, insiders sold 160,396 shares of company stock worth $17,343,852. Insiders own 1.75% of the company’s stock.
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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