Andra AP fonden acquired a new stake in shares of Quest Diagnostics Inc (NYSE:DGX) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 79,400 shares of the medical research company’s stock, valued at approximately $7,140,000.
A number of other hedge funds also recently bought and sold shares of the stock. TIAA CREF Investment Management LLC grew its stake in Quest Diagnostics by 1.5% in the third quarter. TIAA CREF Investment Management LLC now owns 347,783 shares of the medical research company’s stock valued at $37,529,000 after acquiring an additional 5,129 shares during the period. Vanguard Group Inc grew its stake in Quest Diagnostics by 1.4% in the third quarter. Vanguard Group Inc now owns 14,500,290 shares of the medical research company’s stock valued at $1,564,725,000 after acquiring an additional 201,951 shares during the period. Benjamin F. Edwards & Company Inc. grew its stake in Quest Diagnostics by 32.7% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 544 shares of the medical research company’s stock valued at $45,000 after acquiring an additional 134 shares during the period. Dupont Capital Management Corp grew its stake in Quest Diagnostics by 44.8% in the fourth quarter. Dupont Capital Management Corp now owns 1,741 shares of the medical research company’s stock valued at $145,000 after acquiring an additional 539 shares during the period. Finally, TD Asset Management Inc. grew its stake in Quest Diagnostics by 54.3% in the fourth quarter. TD Asset Management Inc. now owns 66,197 shares of the medical research company’s stock valued at $5,512,000 after acquiring an additional 23,292 shares during the period. 91.67% of the stock is owned by institutional investors.
DGX has been the topic of several analyst reports. Zacks Investment Research raised Quest Diagnostics from a “hold” rating to a “buy” rating and set a $111.00 target price on the stock in a research report on Monday, May 13th. Wolfe Research initiated coverage on Quest Diagnostics in a research report on Tuesday, April 2nd. They set an “underperform” rating on the stock. Credit Suisse Group cut Quest Diagnostics from an “outperform” rating to a “neutral” rating and cut their target price for the company from $101.00 to $91.00 in a research report on Monday, March 18th. Canaccord Genuity reaffirmed a “buy” rating and set a $97.00 target price on shares of Quest Diagnostics in a research report on Monday, February 18th. Finally, Barclays reaffirmed a “buy” rating and set a $114.00 target price on shares of Quest Diagnostics in a research report on Friday, February 15th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $102.12.
Quest Diagnostics (NYSE:DGX) last issued its earnings results on Tuesday, April 23rd. The medical research company reported $1.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.36 by $0.04. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.87 billion. Quest Diagnostics had a return on equity of 14.99% and a net margin of 9.59%. The business’s revenue was up .4% on a year-over-year basis. During the same period in the previous year, the company posted $152.00 earnings per share. Research analysts anticipate that Quest Diagnostics Inc will post 6.48 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 22nd. Shareholders of record on Monday, July 8th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.12 annualized dividend and a dividend yield of 2.13%. Quest Diagnostics’s payout ratio is presently 33.60%.
In other Quest Diagnostics news, EVP J. E. Davis sold 47,574 shares of the business’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $95.00, for a total value of $4,519,530.00. Following the sale, the executive vice president now directly owns 84,108 shares in the company, valued at $7,990,260. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Catherine T. Doherty sold 66,382 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $90.59, for a total value of $6,013,545.38. Following the completion of the sale, the senior vice president now owns 133,908 shares in the company, valued at $12,130,725.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 121,956 shares of company stock worth $11,255,395. Corporate insiders own 1.86% of the company’s stock.
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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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