Rampart Investment Management Company LLC Has $163.29 Million Stake in Quest Diagnostics Inc (DGX)

Rampart Investment Management Company LLC cut its holdings in shares of Quest Diagnostics Inc (NYSE:DGX) by 25.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,715 shares of the medical research company’s stock after selling 2,234 shares during the period. Rampart Investment Management Company LLC’s holdings in Quest Diagnostics were worth $163,290,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. CIBC World Markets Inc. boosted its position in shares of Quest Diagnostics by 3.7% during the third quarter. CIBC World Markets Inc. now owns 14,582 shares of the medical research company’s stock worth $1,574,000 after buying an additional 522 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in shares of Quest Diagnostics by 1.7% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 37,739 shares of the medical research company’s stock worth $4,072,000 after buying an additional 623 shares during the period. Acropolis Investment Management LLC boosted its position in shares of Quest Diagnostics by 19.2% during the third quarter. Acropolis Investment Management LLC now owns 4,225 shares of the medical research company’s stock worth $456,000 after buying an additional 680 shares during the period. ING Groep NV boosted its position in shares of Quest Diagnostics by 4.9% during the second quarter. ING Groep NV now owns 14,542 shares of the medical research company’s stock worth $1,599,000 after buying an additional 683 shares during the period. Finally, DNB Asset Management AS boosted its position in shares of Quest Diagnostics by 3.8% during the third quarter. DNB Asset Management AS now owns 19,336 shares of the medical research company’s stock worth $2,087,000 after buying an additional 700 shares during the period. Institutional investors and hedge funds own 85.52% of the company’s stock.

Several brokerages have recently issued reports on DGX. Citigroup reduced their price objective on Quest Diagnostics from $112.00 to $104.00 and set a “neutral” rating for the company in a research report on Wednesday, October 24th. Argus set a $120.00 price objective on Quest Diagnostics and gave the stock a “buy” rating in a research report on Friday, September 14th. ValuEngine downgraded Quest Diagnostics from a “hold” rating to a “sell” rating in a research report on Friday, November 30th. Credit Suisse Group boosted their price objective on Quest Diagnostics from $121.00 to $128.00 and gave the stock an “outperform” rating in a research report on Monday, September 24th. Finally, Canaccord Genuity reduced their price objective 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 equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $106.19.

DGX opened at $85.48 on Friday. The company has a market capitalization 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 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 1-year low of $85.27 and a 1-year high of $116.49.

Quest Diagnostics (NYSE:DGX) last released its earnings results on Tuesday, October 23rd. The medical research company reported $1.68 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.68. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.95 billion. Quest Diagnostics had a return on equity of 15.71% and a net margin of 11.30%. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.38 earnings per share. On average, analysts predict that Quest Diagnostics Inc will post 6.33 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 30th. Shareholders of record on Tuesday, January 15th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.48%. This is an increase from Quest Diagnostics’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, January 14th. Quest Diagnostics’s dividend payout ratio is 37.04%.

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

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