Quest Diagnostics Incorporated (NYSE:DGX) Chairman Stephen H. Rusckowski sold 59,235 shares of Quest Diagnostics stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $108.16, for a total transaction of $6,406,857.60. Following the completion of the transaction, the chairman now owns 220,049 shares in the company, valued at approximately $23,800,499.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Quest Diagnostics Incorporated (NYSE DGX) opened at 104.96 on Friday. The company has a 50-day moving average of $106.93 and a 200 day moving average of $105.25. Quest Diagnostics Incorporated has a one year low of $79.12 and a one year high of $112.97. The company has a market cap of $14.32 billion, a P/E ratio of 21.15 and a beta of 0.69.
Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings results on Tuesday, July 25th. The medical research company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.13. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Quest Diagnostics had a net margin of 9.28% and a return on equity of 15.66%. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.34 earnings per share. Equities research analysts predict that Quest Diagnostics Incorporated will post $5.69 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 18th. Shareholders of record on Tuesday, October 3rd will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date is Monday, October 2nd. Quest Diagnostics’s dividend payout ratio is currently 36.29%.
A number of hedge funds have recently made changes to their positions in DGX. WFG Advisors LP raised its position in shares of Quest Diagnostics by 45.3% in the second quarter. WFG Advisors LP now owns 966 shares of the medical research company’s stock valued at $107,000 after purchasing an additional 301 shares during the period. Sun Life Financial INC increased its position in Quest Diagnostics by 14,142.9% during the second quarter. Sun Life Financial INC now owns 997 shares of the medical research company’s stock worth $111,000 after acquiring an additional 990 shares during the period. YorkBridge Wealth Partners LLC increased its position in Quest Diagnostics by 1.5% during the first quarter. YorkBridge Wealth Partners LLC now owns 1,188 shares of the medical research company’s stock worth $127,000 after acquiring an additional 18 shares during the period. Parallel Advisors LLC increased its position in Quest Diagnostics by 16.1% during the first quarter. Parallel Advisors LLC now owns 1,279 shares of the medical research company’s stock worth $137,000 after acquiring an additional 177 shares during the period. Finally, Acrospire Investment Management LLC increased its position in Quest Diagnostics by 300.0% during the second quarter. Acrospire Investment Management LLC now owns 1,600 shares of the medical research company’s stock worth $178,000 after acquiring an additional 1,200 shares during the period. Hedge funds and other institutional investors own 87.07% of the company’s stock.
Several research analysts have issued reports on DGX shares. Zacks Investment Research lowered shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Monday, May 22nd. Bank of America Corporation restated a “neutral” rating and issued a $110.00 price target (up previously from $105.00) on shares of Quest Diagnostics in a research report on Sunday, May 28th. ValuEngine upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Mizuho lifted their price target on shares of Quest Diagnostics from $115.00 to $122.00 and gave the stock a “buy” rating in a research report on Monday, June 5th. Finally, Canaccord Genuity restated a “buy” rating and issued a $118.00 price target on shares of Quest Diagnostics in a research report on Tuesday, June 13th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Quest Diagnostics presently has a consensus rating of “Buy” and an average price target of $111.09.
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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