Quest Diagnostics Incorporated (DGX) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.
Sumitomo Mitsui Trust Holdings Inc. reduced its holdings in Quest Diagnostics Incorporated (NYSE:DGX) by 0.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 432,302 shares of the medical research company’s stock after selling 2,968 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.32% of Quest Diagnostics worth $40,481,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of DGX. WFG Advisors LP grew its position in shares of Quest Diagnostics by 45.3% in the second quarter. WFG Advisors LP now owns 966 shares of the medical research company’s stock valued at $107,000 after purchasing an additional 301 shares during the last quarter. Sun Life Financial INC grew its position 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 worth $111,000 after buying an additional 990 shares in the last quarter. Parallel Advisors LLC grew its position in Quest Diagnostics by 0.9% during the second quarter. Parallel Advisors LLC now owns 1,291 shares of the medical research company’s stock worth $140,000 after buying an additional 12 shares in the last quarter. Acrospire Investment Management LLC grew its position 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 worth $178,000 after buying an additional 1,200 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in Quest Diagnostics during the second quarter worth about $180,000. 88.52% of the stock is currently owned by institutional investors.
In related news, Chairman Stephen H. Rusckowski sold 59,235 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chairman now owns 220,049 shares of the company’s stock, valued at $23,800,499.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Stephen H. Rusckowski sold 2,525 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $108.03, for a total transaction of $272,775.75. Following the completion of the sale, the chairman now directly owns 168,413 shares of the company’s stock, valued at approximately $18,193,656.39. The disclosure for this sale can be found here. Insiders sold 160,396 shares of company stock valued at $17,343,852 in the last quarter. 1.75% of the stock is currently owned by corporate insiders.
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Quest Diagnostics Incorporated (NYSE:DGX) traded down $0.63 during trading hours on Tuesday, hitting $92.41. 2,092,700 shares of the stock were exchanged, compared to its average volume of 990,212. Quest Diagnostics Incorporated has a 52 week low of $85.52 and a 52 week high of $112.96. The company has a quick ratio of 1.37, a current ratio of 1.47 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $12,600.00, a PE ratio of 16.67, a P/E/G ratio of 1.94 and a beta of 0.59.
Quest Diagnostics (NYSE:DGX) last posted its earnings results on Thursday, October 19th. The medical research company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.04. Quest Diagnostics had a net margin of 8.82% and a return on equity of 15.53%. The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter in the previous year, the company posted $1.37 earnings per share. Quest Diagnostics’s quarterly revenue was up 2.4% compared to the same quarter last year. analysts anticipate that Quest Diagnostics Incorporated will post 5.65 earnings per share for the current fiscal year.
A number of equities research analysts recently weighed in on the company. Zacks Investment Research downgraded Quest Diagnostics from a “hold” rating to a “sell” rating in a research report on Friday, October 27th. Mizuho set a $103.00 target price on Quest Diagnostics and gave the stock a “buy” rating in a research report on Thursday, October 19th. Canaccord Genuity lifted their target price on Quest Diagnostics from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, October 26th. BidaskClub downgraded Quest Diagnostics from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Finally, SunTrust Banks, Inc. set a $105.00 target price on Quest Diagnostics and gave the stock a “hold” rating in a research report on Sunday, October 15th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and seven have given a buy rating to the stock. Quest Diagnostics currently has a consensus rating of “Hold” and a consensus price target of $106.18.
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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