Parametric Portfolio Associates LLC boosted its position in Quest Diagnostics Inc (NYSE:DGX) by 4.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 657,509 shares of the medical research company’s stock after acquiring an additional 27,820 shares during the period. Parametric Portfolio Associates LLC owned 0.49% of Quest Diagnostics worth $66,941,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Pearl River Capital LLC bought a new position in Quest Diagnostics in the second quarter valued at about $28,000. Wealthcare Advisory Partners LLC bought a new position in Quest Diagnostics during the second quarter worth about $29,000. Berman Capital Advisors LLC boosted its holdings in Quest Diagnostics by 47.7% during the second quarter. Berman Capital Advisors LLC now owns 319 shares of the medical research company’s stock worth $32,000 after buying an additional 103 shares during the last quarter. Penserra Capital Management LLC bought a new position in Quest Diagnostics during the first quarter worth about $42,000. Finally, CWM LLC boosted its holdings in Quest Diagnostics by 61.1% during the second quarter. CWM LLC now owns 464 shares of the medical research company’s stock worth $47,000 after buying an additional 176 shares during the last quarter. Institutional investors and hedge funds own 89.73% of the company’s stock.
A number of equities analysts have issued reports on the company. Goldman Sachs Group cut Quest Diagnostics from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $90.00 to $85.00 in a report on Monday, July 15th. Zacks Investment Research upgraded Quest Diagnostics from a “sell” rating to a “hold” rating and set a $111.00 target price on the stock in a report on Wednesday, July 24th. Canaccord Genuity raised their target price on Quest Diagnostics from $108.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Morgan Stanley raised their target price on Quest Diagnostics from $111.00 to $121.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Finally, Credit Suisse Group raised their target price on Quest Diagnostics from $99.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $105.06.
Quest Diagnostics (NYSE:DGX) last released its quarterly earnings results on Tuesday, July 23rd. The medical research company reported $1.73 EPS for the quarter, topping the Zacks’ consensus estimate of $1.69 by $0.04. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. Quest Diagnostics had a return on equity of 15.05% and a net margin of 9.64%. Quest Diagnostics’s revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.75 earnings per share. Equities research analysts predict that Quest Diagnostics Inc will post 6.5 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Friday, October 4th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Thursday, October 3rd. Quest Diagnostics’s dividend payout ratio is currently 33.60%.
Quest Diagnostics Company Profile
Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic testing information and services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.
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