Macquarie Group Ltd. reduced its position in shares of Quest Diagnostics Inc (NYSE:DGX) by 0.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,858,269 shares of the medical research company’s stock after selling 19,657 shares during the quarter. Quest Diagnostics makes up 1.2% of Macquarie Group Ltd.’s investment portfolio, making the stock its 27th largest holding. Macquarie Group Ltd. owned about 0.05% of Quest Diagnostics worth $675,237,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC bought a new stake in shares of Quest Diagnostics during the 3rd quarter worth $446,000. AXA boosted its holdings in shares of Quest Diagnostics by 38.7% during the 3rd quarter. AXA now owns 80,875 shares of the medical research company’s stock worth $7,573,000 after buying an additional 22,575 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in shares of Quest Diagnostics by 4.7% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 510,114 shares of the medical research company’s stock worth $47,768,000 after buying an additional 22,798 shares during the period. National Pension Service boosted its holdings in shares of Quest Diagnostics by 9.5% during the 4th quarter. National Pension Service now owns 155,469 shares of the medical research company’s stock worth $15,312,000 after buying an additional 13,460 shares during the period. Finally, Acropolis Investment Management LLC boosted its holdings in shares of Quest Diagnostics by 39.8% during the 4th quarter. Acropolis Investment Management LLC now owns 5,905 shares of the medical research company’s stock worth $582,000 after buying an additional 1,682 shares during the period. 88.65% of the stock is owned by institutional investors and hedge funds.
Shares of Quest Diagnostics Inc (NYSE DGX) opened at $105.00 on Thursday. The stock has a market cap of $14,240.62, a PE ratio of 19.08, a P/E/G ratio of 1.89 and a beta of 0.68. The company has a current ratio of 1.24, a quick ratio of 1.15 and a debt-to-equity ratio of 0.76. Quest Diagnostics Inc has a 1 year low of $90.10 and a 1 year high of $112.96.
Quest Diagnostics (NYSE:DGX) last announced its earnings results on Thursday, February 1st. The medical research company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 10.00% and a return on equity of 15.41%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the company posted $1.31 EPS. analysts expect that Quest Diagnostics Inc will post 6.59 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 18th. Investors of record on Wednesday, April 4th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, April 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.90%. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.45. Quest Diagnostics’s dividend payout ratio (DPR) is 32.73%.
Several analysts recently issued reports on DGX shares. Canaccord Genuity reaffirmed a “buy” rating and set a $110.00 price objective on shares of Quest Diagnostics in a report on Tuesday, January 16th. Credit Suisse Group started coverage on shares of Quest Diagnostics in a report on Friday, February 2nd. They set a “neutral” rating and a $107.00 price objective for the company. Evercore ISI initiated coverage on shares of Quest Diagnostics in a report on Thursday, January 4th. They set an “in-line” rating and a $103.00 price objective for the company. Goldman Sachs Group initiated coverage on shares of Quest Diagnostics in a report on Monday, January 29th. They issued a “buy” rating and a $117.00 price target for the company. Finally, Jefferies Group set a $98.00 price target on shares of Quest Diagnostics and gave the company a “hold” rating in a report on Saturday, November 25th. Fourteen analysts have rated the stock with 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 $108.65.
In other Quest Diagnostics news, EVP J. E. Davis sold 63,880 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 101,423 shares in the company, valued at approximately $10,008,421.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Stephen H. Rusckowski sold 106,840 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $107.00, for a total transaction of $11,431,880.00. Following the completion of the sale, the chairman now owns 272,956 shares of the company’s stock, valued at approximately $29,206,292. The disclosure for this sale can be found here. Insiders have sold a total of 292,027 shares of company stock valued at $30,336,117 in the last quarter. 1.75% of the stock is currently owned by corporate insiders.
Quest Diagnostics 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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