Capital International Investors trimmed its stake in Quest Diagnostics Inc (NYSE:DGX) by 37.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,302,425 shares of the medical research company’s stock after selling 787,575 shares during the period. Capital International Investors owned about 0.96% of Quest Diagnostics worth $121,959,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. WFG Advisors LP increased its stake in Quest Diagnostics by 45.3% during the 2nd quarter. WFG Advisors LP now owns 966 shares of the medical research company’s stock worth $107,000 after buying an additional 301 shares during the period. Sun Life Financial INC increased its stake in Quest Diagnostics by 14,142.9% during the 2nd quarter. Sun Life Financial INC now owns 997 shares of the medical research company’s stock worth $111,000 after buying an additional 990 shares during the period. Parallel Advisors LLC increased its stake in Quest Diagnostics by 0.9% during the 2nd quarter. Parallel Advisors LLC now owns 1,291 shares of the medical research company’s stock worth $140,000 after buying an additional 12 shares during the period. Acrospire Investment Management LLC increased its stake in Quest Diagnostics by 300.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,600 shares of the medical research company’s stock worth $178,000 after buying an additional 1,200 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in Quest Diagnostics during the 2nd quarter worth approximately $180,000. 89.20% of the stock is currently owned by institutional investors and hedge funds.
Quest Diagnostics Inc (NYSE:DGX) opened at $97.10 on Tuesday. The company has a current ratio of 1.47, a quick ratio of 1.37 and a debt-to-equity ratio of 0.78. Quest Diagnostics Inc has a twelve month low of $90.10 and a twelve month high of $112.96. The company has a market cap of $13,230.58, a P/E ratio of 17.40, a price-to-earnings-growth ratio of 2.02 and a beta of 0.60.
Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings results on Thursday, October 19th. The medical research company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.35 by $0.04. Quest Diagnostics had a net margin of 8.82% and a return on equity of 15.53%. The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter in the previous year, the business posted $1.37 EPS. The firm’s revenue was up 2.4% on a year-over-year basis. equities analysts forecast that Quest Diagnostics Inc will post 5.65 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Tuesday, January 9th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend is Monday, January 8th. Quest Diagnostics’s dividend payout ratio (DPR) is presently 37.74%.
Several equities research analysts recently weighed in on the stock. BidaskClub raised shares of Quest Diagnostics from a “sell” rating to a “hold” rating in a research note on Tuesday, August 15th. Canaccord Genuity reaffirmed a “buy” rating and set a $118.00 target price on shares of Quest Diagnostics in a research note on Wednesday, September 13th. Craig Hallum reaffirmed a “hold” rating and set a $100.00 target price (down from $110.00) on shares of Quest Diagnostics in a research note on Tuesday, October 17th. SunTrust Banks set a $105.00 target price on shares of Quest Diagnostics and gave the stock a “hold” rating in a research note on Sunday, October 15th. Finally, Mizuho set a $103.00 target price on shares of Quest Diagnostics and gave the stock a “buy” rating in a research note on Thursday, October 19th. One 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 currently has an average rating of “Hold” and a consensus price target of $106.28.
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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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