Quest Diagnostics Inc. (DGX) Position Increased by Strs Ohio
Strs Ohio increased its position in shares of Quest Diagnostics Inc. (NYSE:DGX) by 1.2% during the second quarter, Holdings Channel reports. The fund owned 38,888 shares of the company’s stock after buying an additional 457 shares during the period. Strs Ohio’s holdings in Quest Diagnostics were worth $3,165,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Investec Asset Management North America Inc. boosted its position in Quest Diagnostics by 40.1% in the first quarter. Investec Asset Management North America Inc. now owns 12,175 shares of the company’s stock worth $870,000 after buying an additional 3,486 shares during the last quarter. Investec Asset Management LTD boosted its position in Quest Diagnostics by 10.3% in the first quarter. Investec Asset Management LTD now owns 2,049,299 shares of the company’s stock worth $146,422,000 after buying an additional 191,893 shares during the last quarter. Huntington Asset Advisors Inc. bought a new position in Quest Diagnostics during the first quarter worth $486,000. C M Bidwell & Associates Ltd. bought a new position in Quest Diagnostics during the first quarter worth $3,516,000. Finally, Shufro Rose & Co. LLC boosted its position in Quest Diagnostics by 7.4% in the first quarter. Shufro Rose & Co. LLC now owns 10,830 shares of the company’s stock worth $774,000 after buying an additional 750 shares during the last quarter. Hedge funds and other institutional investors own 91.33% of the company’s stock.
Shares of Quest Diagnostics Inc. (NYSE:DGX) traded up 0.61% during trading on Friday, hitting $84.74. 848,472 shares of the stock were exchanged. Quest Diagnostics Inc. has a 52-week low of $59.66 and a 52-week high of $86.85. The firm has a 50 day moving average of $83.76 and a 200-day moving average of $79.75. The stock has a market cap of $11.78 billion, a PE ratio of 14.79 and a beta of 0.70.
Quest Diagnostics (NYSE:DGX) last announced its earnings results on Thursday, July 21st. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.02. The company earned $1.91 billion during the quarter, compared to analyst estimates of $1.91 billion. Quest Diagnostics had a net margin of 11.02% and a return on equity of 14.41%. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.25 earnings per share. Equities research analysts anticipate that Quest Diagnostics Inc. will post $5.11 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 19th. Investors of record on Tuesday, October 4th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, September 30th. This represents a $1.60 annualized dividend and a yield of 1.89%. Quest Diagnostics’s dividend payout ratio (DPR) is 28.02%.
A number of research analysts have weighed in on the stock. Evercore ISI reiterated a “hold” rating and issued a $89.50 target price (up from $78.50) on shares of Quest Diagnostics in a research note on Sunday, July 24th. Citigroup Inc. began coverage on shares of Quest Diagnostics in a research note on Friday, September 9th. They set a “neutral” rating and a $86.00 price target on the stock. Zacks Investment Research upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a research note on Friday, July 22nd. Jefferies Group upped their price target on shares of Quest Diagnostics from $75.00 to $86.00 and gave the company a “hold” rating in a research note on Friday, July 22nd. Finally, Mizuho cut shares of Quest Diagnostics from a “buy” rating to a “neutral” rating and upped their price target for the company from $84.00 to $86.00 in a research note on Wednesday, August 31st. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $82.45.
In related news, Director John B. Ziegler sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $84.36, for a total transaction of $84,360.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey M. Leiden sold 6,345 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $85.62, for a total transaction of $543,258.90. Following the sale, the director now owns 7,233 shares of the company’s stock, valued at $619,289.46. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.
About Quest Diagnostics
Quest Diagnostics Incorporated is a provider of diagnostic information services. The Company operates through two businesses: Diagnostic Information Services and Diagnostic Solutions. The Company’s Diagnostic Information Services business develops and delivers diagnostic testing information and services to patients, physicians, health plans, hospitals, accountable care organizations (ACOs), integrated delivery networks (IDNs), other commercial laboratories, employers and others.
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