Clean Yield Group bought a new stake in Quest Diagnostics Inc. (NYSE:DGX) during the second quarter, Holdings Channel reports. The firm bought 6,600 shares of the company’s stock, valued at approximately $537,000.
Other hedge funds have also recently modified their holdings of the company. Acadian Asset Management LLC purchased a new stake in shares of Quest Diagnostics during the first quarter valued at about $399,000. Glenmede Trust Co. NA raised its stake in shares of Quest Diagnostics by 2.1% in the first quarter. Glenmede Trust Co. NA now owns 134,718 shares of the company’s stock valued at $9,625,000 after buying an additional 2,724 shares in the last quarter. Aperio Group LLC raised its stake in shares of Quest Diagnostics by 52.9% in the first quarter. Aperio Group LLC now owns 69,190 shares of the company’s stock valued at $4,944,000 after buying an additional 23,929 shares in the last quarter. Virginia Retirement System purchased a new stake in shares of Quest Diagnostics during the first quarter valued at about $4,903,000. Finally, CIBC World Markets Inc. raised its stake in shares of Quest Diagnostics by 67.6% in the first quarter. CIBC World Markets Inc. now owns 24,905 shares of the company’s stock valued at $1,779,000 after buying an additional 10,044 shares in the last quarter. 91.33% of the stock is owned by institutional investors and hedge funds.
Quest Diagnostics Inc. (NYSE:DGX) traded up 1.78% during trading on Friday, reaching $84.63. The company’s stock had a trading volume of 1,208,236 shares. The firm’s 50-day moving average price is $83.97 and its 200 day moving average price is $79.12. The company has a market capitalization of $11.76 billion, a P/E ratio of 14.77 and a beta of 0.66. Quest Diagnostics Inc. has a 12-month low of $59.66 and a 12-month high of $86.85.
Quest Diagnostics (NYSE:DGX) last released its quarterly earnings data on Thursday, July 21st. The company reported $1.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.32 by $0.02. Quest Diagnostics had a return on equity of 14.41% and a net margin of 11.02%. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the previous year, the company posted $1.25 EPS. The company’s revenue was down 1.0% compared to the same quarter last year. On average, analysts predict that Quest Diagnostics Inc. will post $5.11 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 19th. Shareholders of record on Tuesday, October 4th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Friday, September 30th. Quest Diagnostics’s payout ratio is 28.02%.
DGX has been the subject of several research reports. Mizuho reaffirmed a “buy” rating and issued a $84.00 target price on shares of Quest Diagnostics in a research note on Friday, June 3rd. Morgan Stanley reaffirmed a “sell” rating on shares of Quest Diagnostics in a research note on Tuesday, June 7th. Jyske Bank lowered Quest Diagnostics from a “neutral” rating to a “sell” rating in a research note on Friday, June 24th. Zacks Investment Research raised Quest Diagnostics from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a research note on Monday, July 11th. Finally, Jefferies Group increased their price objective on Quest Diagnostics from $75.00 to $86.00 and gave the company a “hold” rating in a research note on Friday, July 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $82.45.
In other Quest Diagnostics news, Director Jenne K. Britell sold 4,000 shares of Quest Diagnostics stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $84.76, for a total value of $339,040.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jeffrey M. Leiden sold 6,345 shares of Quest Diagnostics stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $85.62, for a total value of $543,258.90. Following the completion of the sale, the director now directly owns 7,233 shares in the company, valued at approximately $619,289.46. The disclosure for this sale can be found here. 1.50% of the stock is owned by company insiders.
Quest Diagnostics Company Profile
Quest Diagnostics Incorporated is a provider of diagnostic information services. The Company operates through two businesses: Diagnostic Information Services and Diagnostic Solutions. The Company’s Diagnostic Information Services business develops and delivers diagnostic testing information and services to patients, physicians, health plans, hospitals, accountable care organizations (ACOs), integrated delivery networks (IDNs), other commercial laboratories, employers and others.
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