Harwood Advisory Group LLC decreased its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 7.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,658 shares of the medical research company’s stock after selling 1,464 shares during the period. Harwood Advisory Group LLC’s holdings in Quest Diagnostics were worth $1,963,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the stock. Gulf International Bank UK Ltd raised its stake in Quest Diagnostics by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 45,053 shares of the medical research company’s stock valued at $4,423,000 after buying an additional 625 shares during the last quarter. Creative Planning raised its stake in Quest Diagnostics by 30.8% in the first quarter. Creative Planning now owns 4,159 shares of the medical research company’s stock valued at $408,000 after buying an additional 980 shares during the last quarter. Contravisory Investment Management Inc. raised its stake in Quest Diagnostics by 628.7% in the first quarter. Contravisory Investment Management Inc. now owns 2,718 shares of the medical research company’s stock valued at $267,000 after buying an additional 2,345 shares during the last quarter. Acropolis Investment Management LLC raised its stake in Quest Diagnostics by 3.5% in the first quarter. Acropolis Investment Management LLC now owns 8,025 shares of the medical research company’s stock worth $788,000 after buying an additional 275 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. raised its stake in Quest Diagnostics by 2.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 118,823 shares of the medical research company’s stock worth $11,667,000 after buying an additional 2,668 shares in the last quarter. Institutional investors and hedge funds own 90.97% of the company’s stock.
Shares of Quest Diagnostics Incorporated (DGX) traded up 0.46% on Friday, hitting $106.10. 849,396 shares of the stock traded hands. Quest Diagnostics Incorporated has a one year low of $79.12 and a one year high of $112.97. The stock has a 50 day moving average of $108.82 and a 200 day moving average of $103.03. The company has a market cap of $14.47 billion, a PE ratio of 21.38 and a beta of 0.69.
Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings results on Tuesday, July 25th. The medical research company reported $1.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.42 by $0.13. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.94 billion. Quest Diagnostics had a net margin of 9.28% and a return on equity of 15.66%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.34 earnings per share. Equities analysts anticipate that Quest Diagnostics Incorporated will post $5.70 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 24th. Shareholders of record on Monday, July 10th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend was Thursday, July 6th. Quest Diagnostics’s payout ratio is 36.29%.
A number of analysts have recently weighed in on the stock. BidaskClub upgraded shares of Quest Diagnostics from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 29th. UBS AG increased their target price on shares of Quest Diagnostics from $115.00 to $123.00 and gave the stock a “buy” rating in a report on Thursday, July 6th. Mizuho increased their price target on shares of Quest Diagnostics from $115.00 to $122.00 and gave the stock a “buy” rating in a research note on Monday, June 5th. ValuEngine raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, Barclays PLC reissued a “hold” rating and issued a $110.00 price target on shares of Quest Diagnostics in a research note on Wednesday, July 19th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $109.62.
In other news, SVP Catherine T. Doherty sold 59,762 shares of the stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $107.55, for a total value of $6,427,403.10. Following the completion of the sale, the senior vice president now directly owns 78,582 shares in the company, valued at $8,451,494.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey M. Leiden sold 1,304 shares of the stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $108.73, for a total transaction of $141,783.92. Following the completion of the sale, the director now owns 6,296 shares of the company’s stock, valued at $684,564.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 61,362 shares of company stock worth $6,600,758. Insiders own 1.50% of the company’s stock.
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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