Arizona State Retirement System reduced its position in shares of Quest Diagnostics Inc (NYSE:DGX) by 8.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 87,292 shares of the medical research company’s stock after selling 8,155 shares during the quarter. Arizona State Retirement System’s holdings in Quest Diagnostics were worth $8,597,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DGX. Cubist Systematic Strategies LLC purchased a new position in Quest Diagnostics during the 2nd quarter worth $180,000. Robeco Institutional Asset Management B.V. increased its holdings in Quest Diagnostics by 4.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,092,810 shares of the medical research company’s stock worth $102,331,000 after purchasing an additional 48,921 shares during the period. State Treasurer State of Michigan increased its holdings in Quest Diagnostics by 598.9% during the 3rd quarter. State Treasurer State of Michigan now owns 314,263 shares of the medical research company’s stock worth $29,428,000 after purchasing an additional 269,300 shares during the period. Foster & Motley Inc. increased its holdings in Quest Diagnostics by 189.0% during the 3rd quarter. Foster & Motley Inc. now owns 5,808 shares of the medical research company’s stock worth $544,000 after purchasing an additional 3,798 shares during the period. Finally, Denali Advisors LLC increased its holdings in Quest Diagnostics by 9.1% during the 3rd quarter. Denali Advisors LLC now owns 86,471 shares of the medical research company’s stock worth $8,097,000 after purchasing an additional 7,200 shares during the period. Institutional investors own 88.67% of the company’s stock.
Shares of Quest Diagnostics Inc (NYSE DGX) opened at $104.53 on Tuesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.15. The firm has a market capitalization of $14,247.38, a price-to-earnings ratio of 19.01, a PEG ratio of 1.88 and a beta of 0.67. Quest Diagnostics Inc has a 52-week low of $90.10 and a 52-week high of $112.96.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 18th. Stockholders of record on Wednesday, April 4th will be given a $0.50 dividend. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Tuesday, April 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.91%. Quest Diagnostics’s dividend payout ratio (DPR) is presently 32.73%.
Several research firms have commented on DGX. Piper Jaffray Companies restated a “hold” rating and set a $110.00 price objective on shares of Quest Diagnostics in a report on Thursday, February 1st. Mizuho set a $113.00 price objective on Quest Diagnostics and gave the stock a “buy” rating in a report on Wednesday, January 24th. Zacks Investment Research upgraded Quest Diagnostics from a “hold” rating to a “buy” rating and set a $115.00 price objective on the stock in a report on Tuesday, February 6th. Goldman Sachs Group started coverage on Quest Diagnostics in a report on Monday, January 29th. They issued a “buy” rating and a $117.00 price target on the stock. Finally, Jefferies Group set a $98.00 price target on Quest Diagnostics and gave the company a “hold” rating in a report on Saturday, November 25th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $107.40.
In other news, EVP J. E. Davis sold 63,880 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $98.68, for a total value of $6,303,678.40. Following the completion of the sale, the executive vice president now owns 101,423 shares of the company’s stock, valued at approximately $10,008,421.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Stephen H. Rusckowski sold 106,840 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $107.00, for a total value of $11,431,880.00. Following the completion of the sale, the chairman now directly owns 272,956 shares of the company’s stock, valued at approximately $29,206,292. The disclosure for this sale can be found here. Insiders sold a total of 192,014 shares of company stock valued at $19,950,134 in the last three months. Insiders own 1.75% of the company’s stock.
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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