Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Quest Diagnostics Inc (NYSE:DGX) by 12.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,780 shares of the medical research company’s stock after buying an additional 1,000 shares during the quarter. Ladenburg Thalmann Financial Services Inc.’s holdings in Quest Diagnostics were worth $823,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Quest Diagnostics by 3.9% during the second quarter. Vanguard Group Inc. now owns 14,029,322 shares of the medical research company’s stock valued at $1,559,500,000 after purchasing an additional 525,200 shares during the period. APG Asset Management N.V. lifted its position in Quest Diagnostics by 156.0% during the third quarter. APG Asset Management N.V. now owns 2,683,901 shares of the medical research company’s stock valued at $251,320,000 after purchasing an additional 1,635,700 shares during the period. Investec Asset Management LTD lifted its position in Quest Diagnostics by 9.4% during the second quarter. Investec Asset Management LTD now owns 2,178,678 shares of the medical research company’s stock valued at $242,182,000 after purchasing an additional 186,477 shares during the period. AJO LP lifted its position in Quest Diagnostics by 137.9% during the second quarter. AJO LP now owns 2,134,245 shares of the medical research company’s stock valued at $237,243,000 after purchasing an additional 1,237,021 shares during the period. Finally, Allianz Asset Management GmbH lifted its position in Quest Diagnostics by 10.5% during the third quarter. Allianz Asset Management GmbH now owns 2,033,496 shares of the medical research company’s stock valued at $190,417,000 after purchasing an additional 193,829 shares during the period. 88.84% of the stock is currently owned by hedge funds and other institutional investors.
DGX has been the subject of a number of analyst reports. Goldman Sachs Group downgraded shares of Quest Diagnostics from a “conviction-buy” rating to a “buy” rating and decreased their price objective for the stock from $121.00 to $113.00 in a research report on Tuesday, October 10th. Mizuho set a $103.00 price objective on shares of Quest Diagnostics and gave the stock a “buy” rating in a research report on Thursday, October 19th. Canaccord Genuity reiterated a “buy” rating and issued a $118.00 price objective on shares of Quest Diagnostics in a research report on Wednesday, September 13th. ValuEngine upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Craig Hallum reiterated a “hold” rating and issued a $100.00 price objective (down previously from $110.00) on shares of Quest Diagnostics in a research report on Tuesday, October 17th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $106.28.
Quest Diagnostics (NYSE:DGX) last released its 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. The business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.92 billion. Quest Diagnostics had a net margin of 8.82% and a return on equity of 15.53%. The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.37 earnings per share. research analysts forecast that Quest Diagnostics Inc will post 5.65 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Tuesday, January 9th will be paid a dividend of $0.45 per share. The ex-dividend date is Monday, January 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.82%. Quest Diagnostics’s dividend payout ratio is currently 37.74%.
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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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