New York State Common Retirement Fund lifted its position in Quest Diagnostics Inc (NYSE:DGX) by 4.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 381,695 shares of the medical research company’s stock after purchasing an additional 14,750 shares during the period. New York State Common Retirement Fund’s holdings in Quest Diagnostics were worth $34,322,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. TIAA CREF Investment Management LLC boosted its position in Quest Diagnostics by 1.5% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 347,783 shares of the medical research company’s stock worth $37,529,000 after acquiring an additional 5,129 shares during the last quarter. Legal & General Group Plc boosted its position in Quest Diagnostics by 10.0% during the 3rd quarter. Legal & General Group Plc now owns 848,847 shares of the medical research company’s stock worth $91,583,000 after acquiring an additional 77,204 shares during the last quarter. Vanguard Group Inc boosted its position in Quest Diagnostics by 1.4% during the 3rd quarter. Vanguard Group Inc now owns 14,500,290 shares of the medical research company’s stock worth $1,564,725,000 after acquiring an additional 201,951 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Quest Diagnostics during the 4th quarter worth approximately $2,017,000. Finally, IFM Investors Pty Ltd boosted its position in Quest Diagnostics by 7.0% during the 4th quarter. IFM Investors Pty Ltd now owns 7,912 shares of the medical research company’s stock worth $659,000 after acquiring an additional 519 shares during the last quarter. Hedge funds and other institutional investors own 93.31% of the company’s stock.
In related news, SVP Michael E. Prevoznik sold 336 shares of the stock in a transaction on Monday, February 25th. The stock was sold at an average price of $88.23, for a total value of $29,645.28. Following the sale, the senior vice president now owns 42,108 shares in the company, valued at approximately $3,715,188.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP J. E. Davis sold 8,000 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $90.29, for a total value of $722,320.00. Following the completion of the sale, the executive vice president now owns 38,634 shares in the company, valued at approximately $3,488,263.86. The disclosure for this sale can be found here. In the last quarter, insiders have sold 127,680 shares of company stock worth $11,752,519. Company insiders own 1.86% of the company’s stock.
Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings data on Tuesday, April 23rd. The medical research company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.04. Quest Diagnostics had a return on equity of 14.99% and a net margin of 9.59%. The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the prior year, the business posted $152.00 EPS. The business’s revenue was up .4% compared to the same quarter last year. As a group, equities analysts expect that Quest Diagnostics Inc will post 6.48 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 22nd. Stockholders of record on Monday, July 8th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date is Friday, July 5th. Quest Diagnostics’s dividend payout ratio is currently 33.60%.
A number of research firms have weighed in on DGX. Canaccord Genuity upped their price target on Quest Diagnostics from $97.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Citigroup upped their price target on Quest Diagnostics from $93.00 to $102.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. UBS Group upped their price target on Quest Diagnostics from $91.00 to $99.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Morgan Stanley upped their price target on Quest Diagnostics from $98.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Finally, Mizuho set a $110.00 price target on Quest Diagnostics and gave the stock a “buy” rating in a research report on Monday, May 20th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $102.65.
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Quest Diagnostics Company Profile
Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic testing information and services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.
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