Exxonmobil Investment Management Inc. TX trimmed its holdings in shares of Quest Diagnostics Inc (NYSE:DGX) by 13.0% in the 4th quarter, Holdings Channel reports. The firm owned 21,672 shares of the medical research company’s stock after selling 3,238 shares during the quarter. Exxonmobil Investment Management Inc. TX’s holdings in Quest Diagnostics were worth $2,134,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in DGX. Robeco Institutional Asset Management B.V. increased its stake in shares of Quest Diagnostics by 4.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,092,810 shares of the medical research company’s stock valued at $102,331,000 after buying an additional 48,921 shares during the period. Steward Partners Investment Advisory LLC purchased a new position in shares of Quest Diagnostics during the third quarter valued at $446,000. AXA increased its stake in shares of Quest Diagnostics by 38.7% during the third quarter. AXA now owns 80,875 shares of the medical research company’s stock valued at $7,573,000 after buying an additional 22,575 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in shares of Quest Diagnostics during the second quarter valued at $1,634,000. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of Quest Diagnostics by 4.7% during the third quarter. Schwab Charles Investment Management Inc. now owns 510,114 shares of the medical research company’s stock valued at $47,768,000 after buying an additional 22,798 shares during the period. Institutional investors and hedge funds own 88.92% of the company’s stock.
Quest Diagnostics Inc (NYSE DGX) opened at $101.63 on Tuesday. Quest Diagnostics Inc has a 52 week low of $90.10 and a 52 week high of $112.96. The stock has a market capitalization of $13,850.00, a PE ratio of 21.17, a price-to-earnings-growth ratio of 2.01 and a beta of 0.60. The company has a quick ratio of 1.37, a current ratio of 1.47 and a debt-to-equity ratio of 0.78.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Tuesday, January 9th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, January 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.77%. Quest Diagnostics’s payout ratio is 37.50%.
In other news, EVP J. E. Davis sold 63,880 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $98.68, for a total transaction of $6,303,678.40. Following the sale, the executive vice president now owns 101,423 shares in the company, valued at $10,008,421.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.75% of the stock is currently owned by insiders.
Several brokerages have recently commented on DGX. Zacks Investment Research lowered Quest Diagnostics from a “hold” rating to a “sell” rating in a research note on Friday, October 27th. Mizuho set a $103.00 price target on Quest Diagnostics and gave the company a “buy” rating in a research note on Thursday, October 19th. Canaccord Genuity raised their price target on Quest Diagnostics from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. Evercore ISI began coverage on Quest Diagnostics in a research note on Thursday, January 4th. They issued an “in-line” rating and a $103.00 target price on the stock. Finally, SunTrust Banks set a $105.00 target price on Quest Diagnostics and gave the company a “hold” rating in a research note on Sunday, October 15th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and seven have given a buy rating to the company. Quest Diagnostics has an average rating of “Hold” and an average target price of $106.20.
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About Quest Diagnostics
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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