Marshall Wace North America L.P. Invests $74.20 Million in Quest Diagnostics Incorporated (DGX)

Marshall Wace North America L.P. purchased a new position in shares of Quest Diagnostics Incorporated (NYSE:DGX) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 757,154 shares of the medical research company’s stock, valued at approximately $74,201,000.

A number of other hedge funds also recently modified their holdings of DGX. Norges Bank bought a new stake in shares of Quest Diagnostics during the fourth quarter worth $150,523,000. MARSHALL WACE ASIA Ltd bought a new stake in shares of Quest Diagnostics during the first quarter worth $74,201,000. Janus Capital Management LLC increased its stake in shares of Quest Diagnostics by 86.0% in the fourth quarter. Janus Capital Management LLC now owns 997,531 shares of the medical research company’s stock worth $91,674,000 after buying an additional 461,187 shares during the period. Seizert Capital Partners LLC bought a new stake in shares of Quest Diagnostics during the first quarter worth $31,483,000. Finally, AMF Pensionsforsakring AB bought a new stake in shares of Quest Diagnostics during the fourth quarter worth $27,753,000. 90.71% of the stock is owned by hedge funds and other institutional investors.

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

Quest Diagnostics Incorporated (DGX) traded up 0.33% during trading on Tuesday, hitting $108.50. 299,762 shares of the stock were exchanged. Quest Diagnostics Incorporated has a 52 week low of $77.29 and a 52 week high of $110.28. The stock has a market capitalization of $14.85 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 (NYSE:DGX) last posted its earnings results on Thursday, April 20th. The medical research company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.15. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Quest Diagnostics had a net margin of 9.34% and a return on equity of 15.22%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.12 earnings per share. Equities research analysts anticipate that Quest Diagnostics Incorporated will post $5.57 earnings per share for the current fiscal year.

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

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DGX has been the subject of a number of research reports. Goldman Sachs Group, Inc. (The) raised shares of Quest Diagnostics from a “buy” rating to a “conviction-buy” rating and set a $113.00 price target for the company in a report on Tuesday, March 14th. Zacks Investment Research raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a report on Wednesday, March 29th. Mizuho reissued a “buy” rating and issued a $90.00 price target (down from $103.00) on shares of Quest Diagnostics in a report on Friday, April 14th. Jefferies Group LLC reissued a “hold” rating and issued a $96.00 price target on shares of Quest Diagnostics in a report on Thursday, March 16th. Finally, Canaccord Genuity increased their price target on shares of Quest Diagnostics from $102.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, April 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $108.81.

In other news, SVP Michael E. Prevoznik sold 29,513 shares of the stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 41,335 shares of the company’s stock, valued at $4,133,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jenne K. Britell sold 6,111 shares of the stock in a transaction dated 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 corporate 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).

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