Capital Fund Management S.A. decreased its position in Quest Diagnostics Inc. (NYSE:DGX) by 92.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,747 shares of the company’s stock after selling 42,952 shares during the period. Capital Fund Management S.A.’s holdings in Quest Diagnostics were worth $305,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. American Century Companies Inc. increased its position in shares of Quest Diagnostics by 27.7% in the second quarter. American Century Companies Inc. now owns 4,717,816 shares of the company’s stock worth $384,077,000 after buying an additional 1,022,240 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in shares of Quest Diagnostics by 7.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 4,200,612 shares of the company’s stock worth $300,134,000 after buying an additional 286,330 shares during the period. BlackRock Fund Advisors increased its position in shares of Quest Diagnostics by 2.2% in the first quarter. BlackRock Fund Advisors now owns 2,927,809 shares of the company’s stock worth $209,192,000 after buying an additional 61,940 shares during the period. Geode Capital Management LLC increased its position in shares of Quest Diagnostics by 2.3% in the first quarter. Geode Capital Management LLC now owns 1,279,165 shares of the company’s stock worth $91,230,000 after buying an additional 28,485 shares during the period. Finally, Acadian Asset Management LLC increased its position in shares of Quest Diagnostics by 12,923.1% in the second quarter. Acadian Asset Management LLC now owns 726,820 shares of the company’s stock worth $59,167,000 after buying an additional 721,239 shares during the period. 91.32% of the stock is owned by institutional investors and hedge funds.
Shares of Quest Diagnostics Inc. (NYSE:DGX) traded down 0.18% during midday trading on Friday, reaching $83.17. The company’s stock had a trading volume of 581,437 shares. Quest Diagnostics Inc. has a 12 month low of $59.66 and a 12 month high of $86.85. The stock has a market capitalization of $11.56 billion, a PE ratio of 14.51 and a beta of 0.70. The stock’s 50 day moving average is $83.67 and its 200 day moving average is $80.16.
Quest Diagnostics (NYSE:DGX) last released its quarterly earnings results on Thursday, July 21st. The company reported $1.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.32 by $0.02. The company had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Quest Diagnostics had a return on equity of 14.41% and a net margin of 11.02%. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.25 earnings per share. On average, analysts forecast that Quest Diagnostics Inc. will post $5.11 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 19th. Stockholders of record on Tuesday, October 4th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, September 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.92%. Quest Diagnostics’s dividend payout ratio (DPR) is presently 28.02%.
A number of equities analysts have recently issued reports on DGX shares. Jefferies Group increased their target price on Quest Diagnostics from $75.00 to $86.00 and gave the stock a “hold” rating in a research note on Friday, July 22nd. Canaccord Genuity set a $90.00 target price on Quest Diagnostics and gave the stock a “buy” rating in a research note on Wednesday, September 14th. Evercore ISI restated a “hold” rating and issued a $89.50 price target (up previously from $78.50) on shares of Quest Diagnostics in a report on Sunday, July 24th. Zacks Investment Research upgraded Quest Diagnostics from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a report on Friday, July 22nd. Finally, Jyske Bank cut Quest Diagnostics from a “neutral” rating to a “sell” rating in a report on Friday, June 24th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the stock. Quest Diagnostics presently has a consensus rating of “Hold” and a consensus price target of $82.45.
In other news, 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 transaction of $543,258.90. Following the sale, the director now owns 7,233 shares of the company’s stock, valued at $619,289.46. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John B. Ziegler sold 1,000 shares of Quest Diagnostics stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $84.36, for a total value of $84,360.00. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.
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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