HealthCor Management L.P. trimmed its holdings in shares of Quest Diagnostics Inc (NYSE:DGX) by 26.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 735,930 shares of the medical research company’s stock after selling 261,650 shares during the quarter. Quest Diagnostics comprises about 2.6% of HealthCor Management L.P.’s holdings, making the stock its 17th largest position. HealthCor Management L.P. owned 0.54% of Quest Diagnostics worth $79,414,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Fort L.P. purchased a new position in Quest Diagnostics during the second quarter worth about $121,000. Capital Advisors Ltd. LLC purchased a new position in Quest Diagnostics during the third quarter worth about $123,000. Flagship Harbor Advisors LLC purchased a new position in Quest Diagnostics during the second quarter worth about $126,000. Stelac Advisory Services LLC purchased a new position in Quest Diagnostics during the third quarter worth about $128,000. Finally, Bbva Compass Bancshares Inc. purchased a new position in Quest Diagnostics during the third quarter worth about $142,000. Institutional investors and hedge funds own 85.52% of the company’s stock.
Shares of DGX stock opened at $85.48 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.15 and a quick ratio of 1.09. Quest Diagnostics Inc has a 12-month low of $85.27 and a 12-month high of $116.49. The stock has a market cap of $11.63 billion, a price-to-earnings ratio of 15.83, a PEG ratio of 1.79 and a beta of 0.89.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 30th. Shareholders of record on Tuesday, January 15th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, January 14th. This represents a $2.12 annualized dividend and a yield of 2.48%. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.50. Quest Diagnostics’s payout ratio is 37.04%.
Several research firms recently commented on DGX. Argus set a $120.00 target price on Quest Diagnostics and gave the stock a “buy” rating in a research report on Friday, September 14th. Credit Suisse Group boosted their target price on Quest Diagnostics from $121.00 to $128.00 and gave the stock an “outperform” rating in a research report on Monday, September 24th. Bank of America began coverage on Quest Diagnostics in a research report on Friday, October 19th. They set a “buy” rating for the company. Mizuho set a $108.00 target price on Quest Diagnostics and gave the stock a “buy” rating in a research report on Tuesday, November 20th. Finally, Canaccord Genuity reduced their target price on Quest Diagnostics from $118.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, October 24th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $106.19.
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Quest Diagnostics Profile
Quest Diagnostics Incorporated provides diagnostic testing information and services in the United States and internationally. The company's Diagnostic Information Services business segment develops and delivers diagnostic testing information and services, such as routine testing, non-routine and advanced clinical testing, gene-based and esoteric testing, anatomic pathology, and other diagnostic information services.
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