Roberts Glore & Co. Inc. IL Cuts Stake in Quest Diagnostics Inc. (DGX)
Roberts Glore & Co. Inc. IL lowered its stake in Quest Diagnostics Inc. (NYSE:DGX) by 0.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,548 shares of the company’s stock after selling 170 shares during the period. Quest Diagnostics makes up approximately 1.1% of Roberts Glore & Co. Inc. IL’s holdings, making the stock its 27th largest position. Roberts Glore & Co. Inc. IL’s holdings in Quest Diagnostics were worth $1,510,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of DGX. Lazard Asset Management LLC boosted its position in Quest Diagnostics by 3.9% in the first quarter. Lazard Asset Management LLC now owns 2,285 shares of the company’s stock valued at $163,000 after buying an additional 86 shares in the last quarter. Meeder Asset Management Inc. bought a new position in shares of Quest Diagnostics during the first quarter valued at $442,000. BB&T Securities LLC raised its position in shares of Quest Diagnostics by 50.5% in the first quarter. BB&T Securities LLC now owns 6,331 shares of the company’s stock valued at $452,000 after buying an additional 2,123 shares during the last quarter. Canada Pension Plan Investment Board raised its position in shares of Quest Diagnostics by 153.7% in the first quarter. Canada Pension Plan Investment Board now owns 110,519 shares of the company’s stock valued at $7,897,000 after buying an additional 66,963 shares during the last quarter. Finally, Willis Investment Counsel raised its position in shares of Quest Diagnostics by 6.6% in the first quarter. Willis Investment Counsel now owns 127,500 shares of the company’s stock valued at $9,110,000 after buying an additional 7,900 shares during the last quarter. 91.32% of the stock is owned by hedge funds and other institutional investors.
Quest Diagnostics Inc. (NYSE:DGX) traded down 0.18% during trading on Friday, reaching $83.17. 581,435 shares of the company’s stock were exchanged. Quest Diagnostics Inc. has a 52 week low of $59.66 and a 52 week high of $86.85. The company’s 50 day moving average price is $83.67 and its 200-day moving average price is $80.07. The stock has a market capitalization of $11.56 billion, a price-to-earnings ratio of 14.51 and a beta of 0.70.
Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings data 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 business earned $1.91 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Quest Diagnostics had a net margin of 11.02% and a return on equity of 14.41%. The business’s revenue was down 1.0% on a year-over-year basis. During the same period last year, the firm posted $1.25 earnings per share. On average, equities analysts expect that Quest Diagnostics Inc. will post $5.11 EPS for the current 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 paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.92%. The ex-dividend date is Friday, September 30th. Quest Diagnostics’s dividend payout ratio is presently 28.02%.
Several brokerages have weighed in on DGX. Evercore ISI restated a “hold” rating and set a $89.50 target price (up from $78.50) on shares of Quest Diagnostics in a research report on Sunday, July 24th. Citigroup Inc. began coverage on shares of Quest Diagnostics in a research report on Friday, September 9th. They set a “neutral” rating and a $86.00 target price on the stock. Zacks Investment Research upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a research report on Friday, July 22nd. Jefferies Group upped their target price on shares of Quest Diagnostics from $75.00 to $86.00 and gave the stock a “hold” rating in a research report on Friday, July 22nd. Finally, Mizuho lowered shares of Quest Diagnostics from a “buy” rating to a “neutral” rating and upped their target price for the stock from $84.00 to $86.00 in a research report on Wednesday, August 31st. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $82.45.
In related news, Director Jenne K. Britell sold 4,000 shares of the stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $84.76, for a total transaction of $339,040.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John B. Ziegler sold 1,000 shares of the 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 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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