Sumitomo Mitsui Trust Holdings Inc. reduced its stake in shares of Quest Diagnostics Inc (NYSE:DGX) by 0.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 432,302 shares of the medical research company’s stock after selling 2,968 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.32% of Quest Diagnostics worth $40,481,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in DGX. Aperio Group LLC increased its holdings in Quest Diagnostics by 7.5% during the 2nd quarter. Aperio Group LLC now owns 104,281 shares of the medical research company’s stock worth $11,592,000 after purchasing an additional 7,231 shares during the last quarter. US Bancorp DE grew its position in shares of Quest Diagnostics by 0.9% in the 2nd quarter. US Bancorp DE now owns 18,065 shares of the medical research company’s stock worth $2,008,000 after acquiring an additional 156 shares in the last quarter. Farmers & Merchants Investments Inc. grew its position in shares of Quest Diagnostics by 38.3% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 3,836 shares of the medical research company’s stock worth $426,000 after acquiring an additional 1,063 shares in the last quarter. Forsta AP Fonden grew its position in shares of Quest Diagnostics by 0.6% in the 2nd quarter. Forsta AP Fonden now owns 85,217 shares of the medical research company’s stock worth $9,473,000 after acquiring an additional 500 shares in the last quarter. Finally, APG Asset Management N.V. grew its position in shares of Quest Diagnostics by 21.3% in the 2nd quarter. APG Asset Management N.V. now owns 1,048,201 shares of the medical research company’s stock worth $116,518,000 after acquiring an additional 183,831 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.
Shares of Quest Diagnostics Inc (NYSE DGX) traded down $0.48 during mid-day trading on Wednesday, hitting $97.39. The stock had a trading volume of 1,026,257 shares, compared to its average volume of 1,022,947. Quest Diagnostics Inc has a twelve month low of $87.83 and a twelve month high of $112.96. 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 stock has a market capitalization of $13,290.00, a P/E ratio of 17.96, a price-to-earnings-growth ratio of 2.09 and a beta of 0.60.
Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Thursday, October 19th. The medical research company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.04. Quest Diagnostics had a return on equity of 15.53% and a net margin of 8.82%. The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter in the previous year, the company posted $1.37 earnings per share. Quest Diagnostics’s revenue for the quarter was up 2.4% compared to the same quarter last year. analysts anticipate that Quest Diagnostics Inc will post 5.65 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Tuesday, January 9th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Monday, January 8th. This represents a $1.80 dividend on an annualized basis and a yield of 1.85%. Quest Diagnostics’s dividend payout ratio (DPR) is currently 37.50%.
Several research analysts have recently commented on the company. BidaskClub upgraded Quest Diagnostics from a “sell” rating to a “hold” rating in a research report on Tuesday, August 15th. ValuEngine lowered Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Morgan Stanley boosted their price target on Quest Diagnostics from $87.00 to $92.00 and gave the stock an “underweight” rating in a research report on Thursday, August 10th. SunTrust Banks set a $105.00 price target on Quest Diagnostics and gave the stock a “hold” rating in a research report on Sunday, October 15th. Finally, Jefferies Group set a $98.00 price target on Quest Diagnostics and gave the stock a “hold” rating in a research report on Saturday, November 25th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. Quest Diagnostics has a consensus rating of “Hold” and a consensus price target of $106.28.
In related news, CEO Stephen H. Rusckowski sold 53,933 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $108.16, for a total transaction of $5,833,393.28. Following the completion of the transaction, the chief executive officer now owns 220,049 shares of the company’s stock, valued at approximately $23,800,499.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel Stanzione sold 40,900 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $108.07, for a total value of $4,420,063.00. Following the transaction, the director now directly owns 41,991 shares of the company’s stock, valued at approximately $4,537,967.37. The disclosure for this sale can be found here. Insiders sold 154,068 shares of company stock worth $16,660,314 in the last 90 days. Corporate insiders own 1.75% of the company’s stock.
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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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