Liberty Mutual Group Asset Management Inc. lowered its stake in Quest Diagnostics Incorporated (NYSE:DGX) by 35.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,048 shares of the medical research company’s stock after selling 2,740 shares during the period. Liberty Mutual Group Asset Management Inc.’s holdings in Quest Diagnostics were worth $497,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in the company. YorkBridge Wealth Partners LLC increased its stake in shares of Quest Diagnostics by 1.5% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,188 shares of the medical research company’s stock worth $127,000 after buying an additional 18 shares in the last quarter. Leavell Investment Management Inc. increased its stake in shares of Quest Diagnostics by 0.5% in the first quarter. Leavell Investment Management Inc. now owns 7,891 shares of the medical research company’s stock worth $775,000 after buying an additional 41 shares in the last quarter. HighPoint Advisor Group LLC increased its stake in shares of Quest Diagnostics by 0.5% in the fourth quarter. HighPoint Advisor Group LLC now owns 7,914 shares of the medical research company’s stock worth $779,000 after buying an additional 42 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in shares of Quest Diagnostics by 2.0% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,697 shares of the medical research company’s stock worth $339,000 after buying an additional 71 shares in the last quarter. Finally, Investment House LLC increased its stake in shares of Quest Diagnostics by 2.4% in the first quarter. Investment House LLC now owns 3,050 shares of the medical research company’s stock worth $299,000 after buying an additional 72 shares in the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Quest Diagnostics Incorporated (NYSE DGX) traded up 0.48% during trading on Friday, hitting $109.51. 617,305 shares of the stock were exchanged. The stock has a 50-day moving average of $109.16 and a 200 day moving average of $102.05. The stock has a market cap of $14.94 billion, a P/E ratio of 22.07 and a beta of 0.70. Quest Diagnostics Incorporated has a 12-month low of $79.12 and a 12-month high of $112.96.
Quest Diagnostics (NYSE:DGX) last announced its earnings results on Tuesday, July 25th. The medical research company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.42 by $0.13. The company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Quest Diagnostics had a return on equity of 15.66% and a net margin of 9.28%. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.34 earnings per share. Equities analysts predict that Quest Diagnostics Incorporated will post $5.67 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 24th. Investors of record on Monday, July 10th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend was Thursday, July 6th. Quest Diagnostics’s dividend payout ratio is 36.29%.
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A number of equities research analysts have commented on DGX shares. Deutsche Bank AG reissued a “buy” rating and issued a $115.00 price objective (up from $108.00) on shares of Quest Diagnostics in a research report on Sunday, April 23rd. BidaskClub cut shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Bank of America Corporation upgraded shares of Quest Diagnostics from a “neutral” rating to a “buy” rating and upped their target price for the company from $111.00 to $118.00 in a report on Tuesday, July 25th. Zacks Investment Research cut shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Monday, May 22nd. Finally, FBR & Co upped their target price on shares of Quest Diagnostics from $103.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, April 12th. Nine research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $110.84.
In related news, SVP Catherine T. Doherty sold 59,762 shares of the firm’s stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $107.55, for a total value of $6,427,403.10. Following the transaction, the senior vice president now owns 78,582 shares in the company, valued at $8,451,494.10. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.50% of the stock is owned by company insiders.
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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