HighPoint Advisor Group LLC maintained its position in Quest Diagnostics Incorporated (NYSE:DGX) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,536 shares of the medical research company’s stock at the end of the second quarter. HighPoint Advisor Group LLC’s holdings in Quest Diagnostics were worth $607,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sun Life Financial INC lifted its position in Quest Diagnostics by 14,142.9% in the second quarter. Sun Life Financial INC now owns 997 shares of the medical research company’s stock valued at $111,000 after buying an additional 990 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of Quest Diagnostics by 16.1% during the first quarter. Parallel Advisors LLC now owns 1,279 shares of the medical research company’s stock worth $137,000 after purchasing an additional 177 shares in the last quarter. Acrospire Investment Management LLC lifted its position in shares of Quest Diagnostics by 300.0% during the second quarter. Acrospire Investment Management LLC now owns 1,600 shares of the medical research company’s stock worth $178,000 after purchasing an additional 1,200 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Quest Diagnostics during the second quarter worth about $180,000. Finally, Financial Architects Inc lifted its position in shares of Quest Diagnostics by 5.6% during the second quarter. Financial Architects Inc now owns 1,666 shares of the medical research company’s stock worth $185,000 after purchasing an additional 88 shares in the last quarter. 87.10% of the stock is currently owned by institutional investors.
Shares of Quest Diagnostics Incorporated (NYSE:DGX) traded down 0.08% during mid-day trading on Friday, reaching $91.45. 211,670 shares of the company traded hands. The company has a market capitalization of $12.47 billion, a P/E ratio of 18.43 and a beta of 0.65. Quest Diagnostics Incorporated has a 52-week low of $79.12 and a 52-week high of $112.97. The firm’s 50 day moving average price is $100.62 and its 200-day moving average price is $104.79.
Quest Diagnostics (NYSE:DGX) last announced its earnings results on Tuesday, July 25th. The medical research company reported $1.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.42 by $0.13. Quest Diagnostics had a return on equity of 15.66% and a net margin of 9.28%. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period in the prior year, the company posted $1.34 EPS. Quest Diagnostics’s quarterly revenue was up 1.9% on a year-over-year basis. Equities analysts predict that Quest Diagnostics Incorporated will post $5.65 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 18th. Shareholders of record on Tuesday, October 3rd will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Monday, October 2nd. Quest Diagnostics’s payout ratio is 36.29%.
Several brokerages have recently issued reports on DGX. BidaskClub raised shares of Quest Diagnostics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 29th. UBS AG increased their price target on shares of Quest Diagnostics from $115.00 to $123.00 and gave the stock a “buy” rating in a research report on Thursday, July 6th. Barclays PLC reissued a “hold” rating and set a $110.00 price target on shares of Quest Diagnostics in a research report on Wednesday, July 19th. Evercore ISI reissued an “in-line” rating and set a $104.50 price target on shares of Quest Diagnostics in a research report on Wednesday, June 28th. Finally, Bank of America Corporation raised shares of Quest Diagnostics from a “neutral” rating to a “buy” rating and increased their price target for the stock from $111.00 to $118.00 in a research report on Tuesday, July 25th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $109.09.
In other Quest Diagnostics news, Director Jeffrey M. Leiden sold 296 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $106.66, for a total value of $31,571.36. Following the transaction, the director now directly owns 6,000 shares of the company’s stock, valued at approximately $639,960. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Stephen H. Rusckowski sold 2,525 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $108.03, for a total value of $272,775.75. Following the completion of the transaction, the chairman now directly owns 168,413 shares in the company, valued at $18,193,656.39. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 161,996 shares of company stock worth $17,517,207. 1.75% of the stock is currently owned by corporate insiders.
Quest Diagnostics 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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