Aperio Group LLC increased its position in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 1.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 105,276 shares of the medical research company’s stock after acquiring an additional 995 shares during the quarter. Aperio Group LLC owned about 0.08% of Quest Diagnostics worth $9,858,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. WFG Advisors LP increased its holdings in Quest Diagnostics by 45.3% in the second 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 during the last quarter. Sun Life Financial INC increased its holdings in Quest Diagnostics by 14,142.9% in the second 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 during the last quarter. Parallel Advisors LLC increased its holdings in Quest Diagnostics by 0.9% in the second 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 during the last quarter. Acrospire Investment Management LLC increased its holdings in Quest Diagnostics by 300.0% in the second 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 during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in Quest Diagnostics in the second quarter valued at about $180,000. 88.64% of the stock is currently owned by institutional investors and hedge funds.
In other news, Chairman Stephen H. Rusckowski sold 2,525 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $108.03, for a total transaction of $272,775.75. Following the transaction, the chairman now directly owns 168,413 shares of the company’s stock, valued at $18,193,656.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Stephen H. Rusckowski sold 53,933 shares of the firm’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $108.16, for a total value of $5,833,393.28. Following the transaction, the chief executive officer now directly owns 220,049 shares in the company, valued at $23,800,499.84. The disclosure for this sale can be found here. Insiders have sold 160,396 shares of company stock worth $17,343,852 over the last ninety days. Insiders own 1.75% of the company’s stock.
Quest Diagnostics (NYSE:DGX) last released its earnings results on Thursday, October 19th. The medical research company reported $1.39 EPS for the quarter, beating the Zacks’ consensus estimate of $1.35 by $0.04. Quest Diagnostics had a return on equity of 15.53% and a net margin of 8.82%. The business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter in the prior year, the firm earned $1.37 earnings per share. The firm’s revenue was up 2.4% on a year-over-year basis.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 18th. Stockholders of record on Tuesday, October 3rd were paid a dividend of $0.45 per share. 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 (DPR) is currently 37.74%.
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A number of research firms recently commented on DGX. Zacks Investment Research downgraded Quest Diagnostics from a “hold” rating to a “sell” rating in a report on Friday, October 27th. Mizuho set a $103.00 price objective on Quest Diagnostics and gave the company a “buy” rating in a report on Thursday, October 19th. Canaccord Genuity upped their price objective on Quest Diagnostics from $100.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, October 26th. BidaskClub downgraded Quest Diagnostics from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Finally, Barclays PLC reiterated a “hold” rating and issued a $110.00 price objective on shares of Quest Diagnostics in a report on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $106.18.
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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