Sage Capital Advisors llc Grows Position in Quest Diagnostics Inc (NYSE:DGX)
Sage Capital Advisors llc boosted its holdings in Quest Diagnostics Inc (NYSE:DGX) by 1.0% in the 4th quarter, HoldingsChannel reports. The fund owned 15,843 shares of the medical research company’s stock after acquiring an additional 157 shares during the quarter. Sage Capital Advisors llc’s holdings in Quest Diagnostics were worth $1,692,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in DGX. Schroder Investment Management Group raised its position in Quest Diagnostics by 16.3% in the second quarter. Schroder Investment Management Group now owns 1,702,261 shares of the medical research company’s stock worth $173,307,000 after acquiring an additional 238,525 shares in the last quarter. MML Investors Services LLC purchased a new position in Quest Diagnostics in the second quarter worth $286,000. APG Asset Management N.V. raised its position in Quest Diagnostics by 24.2% in the second quarter. APG Asset Management N.V. now owns 55,899 shares of the medical research company’s stock worth $4,997,000 after acquiring an additional 10,900 shares in the last quarter. United Capital Financial Advisers LLC raised its position in Quest Diagnostics by 0.5% in the second quarter. United Capital Financial Advisers LLC now owns 21,547 shares of the medical research company’s stock worth $2,194,000 after acquiring an additional 108 shares in the last quarter. Finally, US Bancorp DE raised its position in Quest Diagnostics by 13.0% in the second quarter. US Bancorp DE now owns 28,794 shares of the medical research company’s stock worth $2,932,000 after acquiring an additional 3,319 shares in the last quarter. Hedge funds and other institutional investors own 88.08% of the company’s stock.
DGX has been the topic of several research reports. UBS Group lowered their target price on Quest Diagnostics from $103.00 to $102.00 and set a “neutral” rating on the stock in a report on Monday, October 21st. Canaccord Genuity reissued a “buy” rating and issued a $113.00 target price on shares of Quest Diagnostics in a report on Wednesday, October 23rd. Barclays lowered Quest Diagnostics from an “overweight” rating to an “equal weight” rating and set a $106.00 target price on the stock. in a report on Tuesday, January 7th. Wells Fargo & Co initiated coverage on Quest Diagnostics in a report on Tuesday, January 7th. They issued an “underweight” rating and a $100.00 target price on the stock. Finally, Bank of America lowered Quest Diagnostics from a “neutral” rating to an “underperform” rating in a report on Friday, January 3rd. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $106.07.
Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings data on Tuesday, October 22nd. The medical research company reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.05. The business had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Quest Diagnostics had a return on equity of 15.32% and a net margin of 9.58%. The business’s revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.68 earnings per share. Equities analysts anticipate that Quest Diagnostics Inc will post 6.49 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Tuesday, January 14th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Monday, January 13th. Quest Diagnostics’s payout ratio is 33.60%.
In other news, SVP Michael E. Prevoznik sold 44,556 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $107.43, for a total transaction of $4,786,651.08. Following the transaction, the senior vice president now directly owns 51,321 shares in the company, valued at approximately $5,513,415.03. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Gail R. Wilensky sold 8,000 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $107.17, for a total transaction of $857,360.00. Following the transaction, the director now owns 22,951 shares in the company, valued at $2,459,658.67. The disclosure for this sale can be found here. 1.86% of the stock is owned by insiders.
About Quest Diagnostics
Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic testing information and services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.
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