Quest Diagnostics Inc (DGX) Holdings Lifted by Jag Capital Management LLC
Jag Capital Management LLC raised its holdings in Quest Diagnostics Inc (NYSE:DGX) by 38.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,878 shares of the medical research company’s stock after acquiring an additional 3,013 shares during the period. Jag Capital Management LLC’s holdings in Quest Diagnostics were worth $978,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in DGX. Bank of New York Mellon Corp grew its holdings in shares of Quest Diagnostics by 5.4% during the third quarter. Bank of New York Mellon Corp now owns 1,877,866 shares of the medical research company’s stock worth $202,640,000 after purchasing an additional 96,493 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Quest Diagnostics during the third quarter worth about $743,000. Renaissance Technologies LLC grew its holdings in shares of Quest Diagnostics by 3.1% during the third quarter. Renaissance Technologies LLC now owns 259,400 shares of the medical research company’s stock worth $27,992,000 after purchasing an additional 7,900 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of Quest Diagnostics by 472.2% during the third quarter. Fifth Third Bancorp now owns 2,615 shares of the medical research company’s stock worth $282,000 after purchasing an additional 2,158 shares during the last quarter. Finally, LPL Financial LLC grew its holdings in shares of Quest Diagnostics by 14.5% during the third quarter. LPL Financial LLC now owns 11,450 shares of the medical research company’s stock worth $1,236,000 after purchasing an additional 1,454 shares during the last quarter. Hedge funds and other institutional investors own 90.46% of the company’s stock.
In related news, SVP Catherine T. Doherty sold 66,382 shares of the company’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $90.59, for a total transaction of $6,013,545.38. Following the completion of the sale, the senior vice president now owns 133,908 shares in the company, valued at $12,130,725.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gail R. Wilensky sold 8,000 shares of the company’s stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $87.78, for a total value of $702,240.00. Following the sale, the director now owns 34,604 shares of the company’s stock, valued at approximately $3,037,539.12. The disclosure for this sale can be found here. Insiders have sold 88,106 shares of company stock valued at $7,935,229 in the last quarter. 1.79% of the stock is currently owned by corporate insiders.
Shares of NYSE:DGX traded up $1.11 during trading on Monday, reaching $90.99. 607,424 shares of the stock were exchanged, compared to its average volume of 1,270,655. The company has a quick ratio of 0.87, a current ratio of 0.94 and a debt-to-equity ratio of 0.65. Quest Diagnostics Inc has a 1-year low of $78.95 and a 1-year high of $116.49. The firm has a market capitalization of $12.10 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 2.10 and a beta of 0.90.
Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings results on Thursday, February 14th. The medical research company reported $1.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.37 by ($0.01). Quest Diagnostics had a return on equity of 15.23% and a net margin of 9.77%. The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter last year, the company posted $1.40 EPS. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. Equities research analysts anticipate that Quest Diagnostics Inc will post 6.46 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 22nd. Investors of record on Monday, April 8th will be issued a dividend of $0.53 per share. The ex-dividend date is Friday, April 5th. This represents a $2.12 annualized dividend and a yield of 2.33%. Quest Diagnostics’s dividend payout ratio (DPR) is currently 33.60%.
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Quest Diagnostics Profile
Quest Diagnostics Incorporated provides diagnostic testing information and services in the United States and internationally. The company's Diagnostic Information Services business segment develops and delivers diagnostic testing information and services, such as routine testing, non-routine and advanced clinical testing, gene-based and esoteric testing, anatomic pathology, and other diagnostic information services.
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