Whittier Trust Co. of Nevada Inc. Has $326,000 Stake in Quest Diagnostics Inc. (DGX)
Whittier Trust Co. of Nevada Inc. continued to hold its stake in shares of Quest Diagnostics Inc. (NYSE:DGX) during the second quarter, according to its most recent disclosure with the SEC. The fund owned 4,000 shares of the company’s stock at the end of the second quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Quest Diagnostics were worth $326,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in DGX. Los Angeles Capital Management & Equity Research Inc. raised its position in shares of Quest Diagnostics by 8.1% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 12,912 shares of the company’s stock worth $923,000 after buying an additional 970 shares during the period. Ngam Advisors L.P. raised its position in shares of Quest Diagnostics by 21.1% in the first quarter. Ngam Advisors L.P. now owns 58,032 shares of the company’s stock worth $4,146,000 after buying an additional 10,111 shares during the period. Teachers Advisors Inc. raised its position in shares of Quest Diagnostics by 25.0% in the first quarter. Teachers Advisors Inc. now owns 176,287 shares of the company’s stock worth $12,596,000 after buying an additional 35,300 shares during the period. BlackRock Fund Advisors raised its position in shares of Quest Diagnostics by 2.2% in the first quarter. BlackRock Fund Advisors now owns 2,927,809 shares of the company’s stock worth $209,192,000 after buying an additional 61,940 shares during the period. Finally, BlackRock Institutional Trust Company N.A. raised its position in shares of Quest Diagnostics by 7.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 4,200,612 shares of the company’s stock worth $300,134,000 after buying an additional 286,330 shares during the period. Institutional investors and hedge funds own 91.32% of the company’s stock.
Shares of Quest Diagnostics Inc. (NYSE:DGX) traded down 1.56% during trading on Tuesday, reaching $83.51. 466,284 shares of the company traded hands. The stock has a market capitalization of $11.61 billion, a PE ratio of 14.57 and a beta of 0.70. Quest Diagnostics Inc. has a 12-month low of $59.66 and a 12-month high of $86.85. The firm’s 50-day moving average is $83.76 and its 200-day moving average is $80.00.
Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings data on Thursday, July 21st. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.32 by $0.02. The business had revenue of $1.91 billion for 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 company’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.25 earnings per share. On average, equities analysts predict that Quest Diagnostics Inc. will post $5.11 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 19th. Shareholders of record on Tuesday, October 4th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.89%. The ex-dividend date is Friday, September 30th. Quest Diagnostics’s dividend payout ratio is 28.02%.
DGX has been the topic of a number of research reports. Jyske Bank lowered shares of Quest Diagnostics from a “neutral” rating to a “sell” rating in a research note on Friday, June 24th. Zacks Investment Research upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating and set a $92.00 price target on the stock in a research note on Monday, July 11th. 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. Evercore ISI reiterated a “hold” rating and issued a $89.50 price target (up previously from $78.50) on shares of Quest Diagnostics in a research note on Sunday, July 24th. Finally, Mizuho lowered 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 equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $82.45.
In other news, Director John B. Ziegler sold 1,000 shares of Quest Diagnostics stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $84.36, for a total value of $84,360.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jenne K. Britell sold 4,000 shares of Quest Diagnostics stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $84.76, for a total transaction of $339,040.00. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by company insiders.
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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