BlueMountain Capital Management LLC Takes $684,000 Position in Quest Diagnostics Incorporated (DGX)
BlueMountain Capital Management LLC acquired a new stake in shares of Quest Diagnostics Incorporated (NYSE:DGX) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 6,154 shares of the medical research company’s stock, valued at approximately $684,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Parallel Advisors LLC raised its holdings in shares of Quest Diagnostics by 16.1% during the first quarter. Parallel Advisors LLC now owns 1,279 shares of the medical research company’s stock valued at $137,000 after purchasing an additional 177 shares during the last quarter. Financial Architects Inc raised its holdings in shares of Quest Diagnostics by 5.6% during the second quarter. Financial Architects Inc now owns 1,666 shares of the medical research company’s stock valued at $185,000 after purchasing an additional 88 shares during the last quarter. Wagner Bowman Management Corp purchased a new position in shares of Quest Diagnostics during the second quarter valued at approximately $200,000. Stratos Wealth Partners LTD. purchased a new position in shares of Quest Diagnostics during the second quarter valued at approximately $200,000. Finally, IFC Holdings Incorporated FL purchased a new position in shares of Quest Diagnostics during the second quarter valued at approximately $202,000. 87.10% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Jeffrey M. Leiden sold 296 shares of Quest Diagnostics stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $106.66, for a total transaction of $31,571.36. Following the completion of the transaction, the director now directly owns 6,000 shares of the company’s stock, valued at approximately $639,960. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jeffrey M. Leiden sold 1,304 shares of Quest Diagnostics stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $108.73, for a total transaction of $141,783.92. Following the transaction, the director now directly owns 6,296 shares of the company’s stock, valued at $684,564.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 161,996 shares of company stock valued at $17,517,207. Insiders own 1.75% of the company’s stock.
TRADEMARK VIOLATION WARNING: “BlueMountain Capital Management LLC Takes $684,000 Position in Quest Diagnostics Incorporated (DGX)” was originally posted by Daily Political and is the property of of Daily Political. If you are viewing this article on another site, it was copied illegally and republished in violation of U.S. & international copyright legislation. The original version of this article can be viewed at https://www.dailypolitical.com/2017/09/22/bluemountain-capital-management-llc-takes-684000-position-in-quest-diagnostics-incorporated-dgx.html.
Quest Diagnostics Incorporated (NYSE:DGX) opened at 101.55 on Friday. The firm has a 50 day moving average of $106.58 and a 200-day moving average of $105.42. The company has a market capitalization of $13.85 billion, a price-to-earnings ratio of 20.47 and a beta of 0.69. Quest Diagnostics Incorporated has a 52-week low of $79.12 and a 52-week high of $112.97.
Quest Diagnostics (NYSE:DGX) last posted its earnings results on Tuesday, July 25th. The medical research company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.13. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.94 billion. Quest Diagnostics had a net margin of 9.28% and a return on equity of 15.66%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.34 EPS. Equities analysts expect that Quest Diagnostics Incorporated will post $5.69 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 18th. Stockholders of record on Tuesday, October 3rd will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend is Monday, October 2nd. Quest Diagnostics’s dividend payout ratio (DPR) is 36.29%.
DGX has been the subject of several research reports. Bank of America Corporation reissued a “neutral” rating and set a $110.00 price objective (up from $105.00) on shares of Quest Diagnostics in a report on Sunday, May 28th. ValuEngine raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Mizuho upped their target price on shares of Quest Diagnostics from $115.00 to $122.00 and gave the company a “buy” rating in a report on Monday, June 5th. Zacks Investment Research cut shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Monday, June 5th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $118.00 target price on shares of Quest Diagnostics in a report on Tuesday, June 13th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Quest Diagnostics has a consensus rating of “Buy” and a consensus target price of $111.09.
Quest Diagnostics 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).
Want to see what other hedge funds are holding DGX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quest Diagnostics Incorporated (NYSE:DGX).
Receive News & Ratings for Quest Diagnostics Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quest Diagnostics Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.