Hussman Strategic Advisors Inc. decreased its holdings in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 33.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,000 shares of the medical research company’s stock after selling 25,000 shares during the period. Quest Diagnostics accounts for about 1.1% of Hussman Strategic Advisors Inc.’s portfolio, making the stock its 24th biggest position. Hussman Strategic Advisors Inc.’s holdings in Quest Diagnostics were worth $4,682,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. WFG Advisors LP boosted its position in shares of Quest Diagnostics by 45.3% during the 2nd quarter. WFG Advisors LP now owns 966 shares of the medical research company’s stock valued at $107,000 after purchasing an additional 301 shares in the last quarter. Sun Life Financial INC boosted its position in shares of 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 valued at $111,000 after purchasing an additional 990 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Quest Diagnostics by 0.9% during the 2nd quarter. Parallel Advisors LLC now owns 1,291 shares of the medical research company’s stock valued at $140,000 after purchasing an additional 12 shares in the last quarter. Acrospire Investment Management LLC boosted its position in shares of 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 valued at $178,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Quest Diagnostics during the 2nd quarter valued at about $180,000. Institutional investors own 88.64% of the company’s stock.
In other news, CEO Stephen H. Rusckowski sold 53,933 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $108.16, for a total value of $5,833,393.28. Following the sale, the chief executive officer now directly owns 220,049 shares of the company’s stock, valued at approximately $23,800,499.84. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Daniel Stanzione sold 3,803 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $108.01, for a total value of $410,762.03. Following the completion of the sale, the director now directly owns 35,359 shares in the company, valued at $3,819,125.59. The disclosure for this sale can be found here. Over the last three months, insiders sold 160,692 shares of company stock worth $17,375,423. Insiders own 1.75% of the company’s stock.
Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Thursday, October 19th. The medical research company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.04. Quest Diagnostics had a return on equity of 15.53% and a net margin of 8.82%. The firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.92 billion. During the same period in the previous year, the firm posted $1.37 EPS. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 18th. Stockholders of record on Tuesday, October 3rd were given a $0.45 dividend. The ex-dividend date of this dividend was Monday, October 2nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.92%. Quest Diagnostics’s dividend payout ratio is currently 37.74%.
Several brokerages recently commented on DGX. UBS AG upped their target price on Quest Diagnostics from $115.00 to $123.00 and gave the company a “buy” rating in a research report on Thursday, July 6th. KeyCorp restated a “hold” rating on shares of Quest Diagnostics in a research report on Friday, October 27th. BidaskClub upgraded Quest Diagnostics from a “sell” rating to a “hold” rating in a research report on Tuesday, August 15th. Canaccord Genuity upped their target price on Quest Diagnostics from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, October 26th. Finally, Zacks Investment Research upgraded Quest Diagnostics from a “hold” rating to a “buy” rating and set a $121.00 target price on the stock in a research report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have given a buy rating to the stock. Quest Diagnostics currently has an average rating of “Hold” and a consensus target price of $106.18.
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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