Massachusetts Financial Services Co. MA Purchases 13,841 Shares of Quest Diagnostics Incorporated (DGX)

Massachusetts Financial Services Co. MA increased its stake in Quest Diagnostics Incorporated (NYSE:DGX) by 2.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 503,338 shares of the medical research company’s stock after buying an additional 13,841 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Quest Diagnostics were worth $49,423,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DGX. YorkBridge Wealth Partners LLC increased its position in Quest Diagnostics by 1.5% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,188 shares of the medical research company’s stock valued at $127,000 after buying an additional 18 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in Quest Diagnostics during the fourth quarter valued at approximately $145,000. Advisors Capital Management LLC bought a new position in Quest Diagnostics during the first quarter valued at approximately $164,000. Trust Co. of Vermont increased its position in Quest Diagnostics by 8.5% in the first quarter. Trust Co. of Vermont now owns 1,859 shares of the medical research company’s stock valued at $182,000 after buying an additional 145 shares in the last quarter. Finally, Perkins Capital Management Inc. bought a new position in Quest Diagnostics during the first quarter valued at approximately $201,000. Hedge funds and other institutional investors own 90.71% of the company’s stock.

Institutional Ownership by Quarter for Quest Diagnostics (NYSE:DGX)

Quest Diagnostics Incorporated (DGX) traded up 0.31% on Tuesday, hitting $108.48. The company’s stock had a trading volume of 269,461 shares. The firm has a market cap of $14.84 billion, a price-to-earnings ratio of 21.84 and a beta of 0.72. The firm has a 50 day moving average of $107.54 and a 200 day moving average of $98.57. Quest Diagnostics Incorporated has a 12 month low of $77.29 and a 12 month high of $110.28.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings results on Thursday, April 20th. The medical research company reported $1.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.18 by $0.15. Quest Diagnostics had a net margin of 9.34% and a return on equity of 15.22%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same period in the previous year, the company earned $1.12 earnings per share. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. Equities research analysts forecast that Quest Diagnostics Incorporated will post $5.57 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 24th. Shareholders of record on Monday, July 10th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend is Thursday, July 6th. Quest Diagnostics’s dividend payout ratio is currently 36.29%.

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A number of research analysts recently issued reports on the company. Canaccord Genuity restated a “buy” rating and set a $118.00 price target on shares of Quest Diagnostics in a report on Tuesday, June 13th. Zacks Investment Research downgraded Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Monday, June 5th. Mizuho boosted their price target on Quest Diagnostics from $115.00 to $122.00 and gave the company a “buy” rating in a report on Monday, June 5th. Evercore ISI restated an “in-line” rating and set a $104.50 price target (up previously from $102.00) on shares of Quest Diagnostics in a report on Monday, April 24th. Finally, Argus assumed coverage on Quest Diagnostics in a report on Friday, May 12th. They set a “hold” rating and a $102.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Quest Diagnostics presently has an average rating of “Buy” and a consensus price target of $108.81.

In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 29,513 shares of Quest Diagnostics stock in a transaction on Thursday, April 20th. The shares were sold at an average price of $100.00, for a total value of $2,951,300.00. Following the transaction, the senior vice president now directly owns 41,335 shares of the company’s stock, valued at $4,133,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jenne K. Britell sold 6,111 shares of Quest Diagnostics stock in a transaction on Monday, April 24th. The stock was sold at an average price of $104.03, for a total transaction of $635,727.33. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by 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 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).new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “DGX”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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