Quest Diagnostics Inc (DGX) Shares Sold by Marshall Wace North America L.P.

Marshall Wace North America L.P. lessened its holdings in Quest Diagnostics Inc (NYSE:DGX) by 21.3% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,092,866 shares of the medical research company’s stock after selling 565,264 shares during the quarter. Quest Diagnostics makes up 1.6% of Marshall Wace North America L.P.’s holdings, making the stock its 13th largest holding. Marshall Wace North America L.P.’s holdings in Quest Diagnostics were worth $225,841,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. American Century Companies Inc. grew its position in shares of Quest Diagnostics by 38.7% during the 3rd quarter. American Century Companies Inc. now owns 4,109,526 shares of the medical research company’s stock worth $443,459,000 after buying an additional 1,147,470 shares in the last quarter. Marshall Wace LLP grew its position in shares of Quest Diagnostics by 105.1% during the 3rd quarter. Marshall Wace LLP now owns 1,525,559 shares of the medical research company’s stock worth $164,623,000 after buying an additional 781,703 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Quest Diagnostics by 57.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,781,373 shares of the medical research company’s stock worth $195,845,000 after buying an additional 648,706 shares in the last quarter. Tavio Capital LLC bought a new position in shares of Quest Diagnostics during the 2nd quarter worth $39,866,000. Finally, Macquarie Group Ltd. grew its position in shares of Quest Diagnostics by 4.8% during the 3rd quarter. Macquarie Group Ltd. now owns 6,708,232 shares of the medical research company’s stock worth $723,882,000 after buying an additional 306,017 shares in the last quarter. 86.26% of the stock is currently owned by institutional investors.

DGX stock traded down $0.91 during trading on Thursday, reaching $88.83. 1,997,000 shares of the company traded hands, compared to its average volume of 1,034,537. Quest Diagnostics Inc has a 12 month low of $85.56 and a 12 month high of $116.49. The company has a market cap of $12.21 billion, a P/E ratio of 16.45, a PEG ratio of 1.87 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 (NYSE:DGX) last issued its quarterly earnings data on Tuesday, October 23rd. The medical research company reported $1.68 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.68. Quest Diagnostics had a return on equity of 15.71% and a net margin of 11.30%. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter last year, the company earned $1.38 earnings per share. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, analysts anticipate that Quest Diagnostics Inc will post 6.38 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 30th. Shareholders of record on Tuesday, January 15th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Monday, January 14th. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.50. This represents a $2.12 dividend on an annualized basis and a yield of 2.39%. Quest Diagnostics’s dividend payout ratio (DPR) is 37.04%.

A number of brokerages recently weighed in on DGX. Bank of America began coverage on Quest Diagnostics in a research report on Friday, October 19th. They set a “buy” rating on the stock. Argus set a $106.00 price objective on Quest Diagnostics and gave the company a “buy” rating in a research report on Wednesday, October 24th. Canaccord Genuity dropped their price objective on Quest Diagnostics from $118.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, October 24th. Mizuho set a $108.00 price objective on Quest Diagnostics and gave the company a “buy” rating in a research report on Tuesday, November 20th. Finally, Credit Suisse Group reaffirmed a “buy” rating and set a $121.00 price objective on shares of Quest Diagnostics in a research report on Sunday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $106.19.

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Quest Diagnostics 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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