Janney Montgomery Scott LLC cut its stake in Quest Diagnostics Inc (NYSE:DGX) by 12.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,649 shares of the medical research company’s stock after selling 1,077 shares during the period. Janney Montgomery Scott LLC’s holdings in Quest Diagnostics were worth $716,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. WFG Advisors LP raised its holdings in Quest Diagnostics by 45.3% in the 2nd quarter. WFG Advisors LP now owns 966 shares of the medical research company’s stock valued at $107,000 after acquiring an additional 301 shares in the last quarter. Sun Life Financial INC raised its holdings 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 worth $111,000 after buying an additional 990 shares in the last quarter. Parallel Advisors LLC raised its holdings 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 worth $140,000 after buying an additional 12 shares in the last quarter. Acrospire Investment Management LLC raised its holdings 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 worth $178,000 after buying an additional 1,200 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Quest Diagnostics during the 2nd quarter worth $180,000. 88.84% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on DGX. KeyCorp restated a “hold” rating on shares of Quest Diagnostics in a research report on Friday, October 27th. Wells Fargo & Co dropped their price objective on Quest Diagnostics from $88.00 to $86.00 and set a “market perform” rating on the stock in a research note on Friday, October 20th. ValuEngine raised Quest Diagnostics from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Goldman Sachs Group downgraded Quest Diagnostics from a “conviction-buy” rating to a “buy” rating and dropped their price target for the stock from $121.00 to $113.00 in a research note on Tuesday, October 10th. Finally, Canaccord Genuity upped their price target on Quest Diagnostics from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $106.28.
Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings data on Thursday, October 19th. The medical research company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.35 by $0.04. The firm had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.92 billion. Quest Diagnostics had a return on equity of 15.53% and a net margin of 8.82%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.37 earnings per share. equities research analysts predict that Quest Diagnostics Inc will post 5.65 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Tuesday, January 9th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend is Monday, January 8th. Quest Diagnostics’s dividend payout ratio (DPR) is presently 37.50%.
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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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