Quest Diagnostics Inc (DGX) Stake Raised by Schwab Charles Investment Management Inc.

Schwab Charles Investment Management Inc. lifted its stake in shares of Quest Diagnostics Inc (NYSE:DGX) by 4.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 510,114 shares of the medical research company’s stock after purchasing an additional 22,798 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.37% of Quest Diagnostics worth $47,768,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Commonwealth Bank of Australia grew its stake in Quest Diagnostics by 10.6% in the third quarter. Commonwealth Bank of Australia now owns 24,995 shares of the medical research company’s stock valued at $2,335,000 after purchasing an additional 2,391 shares in the last quarter. Investec Asset Management PTY Ltd grew its stake in Quest Diagnostics by 763.4% in the third quarter. Investec Asset Management PTY Ltd now owns 6,579 shares of the medical research company’s stock valued at $618,000 after purchasing an additional 5,817 shares in the last quarter. Campbell & CO Investment Adviser LLC grew its stake in Quest Diagnostics by 50.4% in the third quarter. Campbell & CO Investment Adviser LLC now owns 3,059 shares of the medical research company’s stock valued at $286,000 after purchasing an additional 1,025 shares in the last quarter. Wells Fargo & Company MN grew its stake in Quest Diagnostics by 4.1% in the third quarter. Wells Fargo & Company MN now owns 1,555,029 shares of the medical research company’s stock valued at $145,612,000 after purchasing an additional 60,793 shares in the last quarter. Finally, Picton Mahoney Asset Management grew its stake in Quest Diagnostics by 4.2% in the third quarter. Picton Mahoney Asset Management now owns 112,100 shares of the medical research company’s stock valued at $10,496,000 after purchasing an additional 4,500 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors.

Quest Diagnostics Inc (DGX) traded down $0.48 during midday trading on Thursday, hitting $97.39. The company had a trading volume of 1,026,200 shares, compared to its average volume of 1,022,947. Quest Diagnostics Inc has a fifty-two week low of $87.83 and a fifty-two week high of $112.96. The company has a quick ratio of 1.37, a current ratio of 1.47 and a debt-to-equity ratio of 0.78. The firm has a market cap of $13,339.62, a PE ratio of 17.54, a PEG ratio of 2.04 and a beta of 0.60.

Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings data on Thursday, October 19th. The medical research company reported $1.39 earnings per share for the quarter, topping the 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 during the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter in the previous year, the firm earned $1.37 EPS. The firm’s revenue was up 2.4% compared to the same quarter last year. sell-side analysts predict that Quest Diagnostics Inc will post 5.65 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Tuesday, January 9th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, January 8th. This represents a $1.80 annualized dividend and a dividend yield of 1.85%. Quest Diagnostics’s dividend payout ratio is presently 37.74%.

A number of research analysts have commented on DGX shares. BidaskClub downgraded Quest Diagnostics from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Morgan Stanley boosted their target price on Quest Diagnostics from $87.00 to $92.00 and gave the company an “underweight” rating in a research note on Thursday, August 10th. ValuEngine upgraded Quest Diagnostics from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Canaccord Genuity restated a “buy” rating and issued a $118.00 target price on shares of Quest Diagnostics in a research note on Wednesday, September 13th. Finally, Raymond James Financial reiterated a “market perform” rating on shares of Quest Diagnostics in a research note on Monday, September 25th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $106.28.

In other Quest Diagnostics news, CEO Stephen H. Rusckowski sold 53,933 shares of the company’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 completion of the transaction, the chief executive officer now owns 220,049 shares of the company’s stock, valued at approximately $23,800,499.84. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Daniel Stanzione sold 40,900 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $108.07, for a total value of $4,420,063.00. Following the completion of the transaction, the director now directly owns 41,991 shares of the company’s stock, valued at approximately $4,537,967.37. The disclosure for this sale can be found here. Insiders have sold a total of 154,068 shares of company stock valued at $16,660,314 in the last three months. 1.75% of the stock is owned by insiders.

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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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Institutional Ownership by Quarter for Quest Diagnostics (NYSE:DGX)

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