Wells Fargo & Company MN lifted its stake in Quest Diagnostics Inc (NYSE:DGX) by 0.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,564,669 shares of the medical research company’s stock after purchasing an additional 9,640 shares during the quarter. Wells Fargo & Company MN’s holdings in Quest Diagnostics were worth $154,104,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. First Trust Advisors LP raised its stake in shares of Quest Diagnostics by 63.8% in the fourth quarter. First Trust Advisors LP now owns 217,042 shares of the medical research company’s stock worth $21,376,000 after buying an additional 84,577 shares during the period. Retirement Systems of Alabama raised its stake in shares of Quest Diagnostics by 85.6% in the fourth quarter. Retirement Systems of Alabama now owns 376,554 shares of the medical research company’s stock worth $37,087,000 after buying an additional 173,675 shares during the period. Sei Investments Co. raised its stake in shares of Quest Diagnostics by 3.0% in the fourth quarter. Sei Investments Co. now owns 209,290 shares of the medical research company’s stock worth $20,614,000 after buying an additional 6,147 shares during the period. Krueger & Catalano Capital Partners LLC bought a new position in shares of Quest Diagnostics in the fourth quarter worth about $2,040,000. Finally, Candriam Luxembourg S.C.A. raised its stake in Quest Diagnostics by 12.5% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 156,490 shares of the medical research company’s stock valued at $15,413,000 after purchasing an additional 17,363 shares during the period. 88.67% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently issued reports on DGX shares. Zacks Investment Research downgraded Quest Diagnostics from a “hold” rating to a “sell” rating in a research note on Friday, October 27th. Evercore ISI started coverage on Quest Diagnostics in a research note on Thursday, January 4th. They set an “in-line” rating and a $103.00 target price on the stock. Canaccord Genuity lifted their target price on Quest Diagnostics from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. Jefferies Group set a $98.00 target price on Quest Diagnostics and gave the company a “hold” rating in a research note on Saturday, November 25th. Finally, KeyCorp reissued a “hold” rating on shares of Quest Diagnostics in a research note on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $107.40.
Quest Diagnostics Inc (NYSE:DGX) opened at $104.53 on Monday. The firm has a market capitalization of $14,247.38, a P/E ratio of 19.01, a price-to-earnings-growth ratio of 1.88 and a beta of 0.67. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.15 and a current ratio of 1.24. Quest Diagnostics Inc has a 1-year low of $90.10 and a 1-year high of $112.96.
Quest Diagnostics (NYSE:DGX) last released its quarterly earnings results on Thursday, February 1st. The medical research company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.03. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.93 billion. Quest Diagnostics had a return on equity of 15.41% and a net margin of 10.00%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.31 EPS. equities research analysts expect that Quest Diagnostics Inc will post 6.59 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 18th. Shareholders of record on Wednesday, April 4th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.91%. The ex-dividend date is Tuesday, April 3rd. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.45. Quest Diagnostics’s dividend payout ratio (DPR) is currently 32.73%.
In other Quest Diagnostics news, Chairman Stephen H. Rusckowski sold 106,840 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $107.00, for a total transaction of $11,431,880.00. Following the completion of the transaction, the chairman now owns 272,956 shares in the company, valued at approximately $29,206,292. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP J. E. Davis sold 63,880 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $98.68, for a total value of $6,303,678.40. Following the transaction, the executive vice president now owns 101,423 shares of the company’s stock, valued at approximately $10,008,421.64. The disclosure for this sale can be found here. Insiders have sold a total of 192,014 shares of company stock valued at $19,950,134 in the last 90 days. 1.75% of the stock is currently owned by company insiders.
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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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