Two Sigma Investments LP bought a new position in shares of Quest Diagnostics Inc (NYSE:DGX) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 87,608 shares of the medical research company’s stock, valued at approximately $8,629,000. Two Sigma Investments LP owned 0.06% of Quest Diagnostics as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in DGX. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Quest Diagnostics during the fourth quarter worth about $118,000. Cerebellum GP LLC purchased a new position in Quest Diagnostics during the fourth quarter valued at approximately $128,000. Assetmark Inc. raised its position in Quest Diagnostics by 139.5% during the fourth quarter. Assetmark Inc. now owns 1,473 shares of the medical research company’s stock valued at $145,000 after acquiring an additional 858 shares in the last quarter. Icon Wealth Partners LLC purchased a new position in Quest Diagnostics during the fourth quarter valued at approximately $147,000. Finally, Commerzbank Aktiengesellschaft FI purchased a new position in Quest Diagnostics during the fourth quarter valued at approximately $206,000. 88.59% of the stock is owned by hedge funds and other institutional investors.
Shares of Quest Diagnostics Inc (NYSE DGX) opened at $103.86 on Tuesday. The company has a market capitalization of $14,153.82, a P/E ratio of 18.88, a PEG ratio of 1.87 and a beta of 0.68. Quest Diagnostics Inc has a 12-month low of $90.10 and a 12-month high of $112.96. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.15.
Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings data on Thursday, February 1st. The medical research company reported $1.40 EPS for the quarter, beating the Zacks’ 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 business’s revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.31 earnings per share. sell-side analysts anticipate that Quest Diagnostics Inc will post 6.59 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 18th. Stockholders of record on Wednesday, April 4th will be given a $0.50 dividend. The ex-dividend date is Tuesday, April 3rd. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.93%. Quest Diagnostics’s payout ratio is 32.73%.
Several research analysts recently weighed in on DGX shares. Evercore ISI started coverage on Quest Diagnostics in a research report on Thursday, January 4th. They set an “in-line” rating and a $103.00 price target for the company. Credit Suisse Group upgraded Quest Diagnostics from a “neutral” rating to an “outperform” rating and set a $107.00 price target for the company in a research report on Tuesday, February 13th. Canaccord Genuity reiterated a “buy” rating and set a $110.00 price target on shares of Quest Diagnostics in a research report on Tuesday, January 16th. Jefferies Group set a $98.00 price target on Quest Diagnostics and gave the company a “hold” rating in a research report on Saturday, November 25th. Finally, Mizuho set a $113.00 price target on Quest Diagnostics and gave the company a “buy” rating in a research report on Wednesday, January 24th. Fourteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $108.90.
In other news, Chairman Stephen H. Rusckowski sold 106,840 shares of Quest Diagnostics stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $107.00, for a total value of $11,431,880.00. Following the sale, the chairman now directly owns 272,956 shares of the company’s stock, valued at $29,206,292. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jon R. Cohen sold 83,669 shares of Quest Diagnostics stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $104.20, for a total value of $8,718,309.80. Following the completion of the sale, the senior vice president now directly owns 115,426 shares in the company, valued at $12,027,389.20. The disclosure for this sale can be found here. Insiders sold 292,027 shares of company stock valued at $30,336,117 over the last 90 days. Company insiders own 1.75% of the company’s stock.
COPYRIGHT VIOLATION WARNING: This piece of content was originally posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this piece of content on another site, it was illegally stolen and republished in violation of US & international copyright & trademark law. The legal version of this piece of content can be read at https://ledgergazette.com/2018/03/20/87608-shares-in-quest-diagnostics-inc-dgx-purchased-by-two-sigma-investments-lp.html.
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).
Want to see what other hedge funds are holding DGX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quest Diagnostics Inc (NYSE:DGX).
Receive News & Ratings for Quest Diagnostics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quest Diagnostics and related companies with MarketBeat.com's FREE daily email newsletter.