Investors Sell Quest Diagnostics Incorporated (DGX) on Strength (DGX)
Traders sold shares of Quest Diagnostics Incorporated (NYSE:DGX) on strength during trading on Friday. $15.85 million flowed into the stock on the tick-up and $95.97 million flowed out of the stock on the tick-down, for a money net flow of $80.12 million out of the stock. Of all stocks tracked, Quest Diagnostics had the 6th highest net out-flow for the day. Quest Diagnostics traded up $0.10 for the day and closed at $93.04
Several research analysts have recently weighed in on the company. Bank of America Corporation raised Quest Diagnostics from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $111.00 to $118.00 in a research report on Tuesday, July 25th. Piper Jaffray Companies upped their price objective on Quest Diagnostics to $107.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 25th. BidaskClub cut Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Zacks Investment Research cut Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Finally, ValuEngine raised Quest Diagnostics from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $106.18.
The company has a current ratio of 1.47, a quick ratio of 1.37 and a debt-to-equity ratio of 0.78. The firm has a market cap of $12,670.00, a P/E ratio of 16.56, a PEG ratio of 1.93 and a beta of 0.59.
Quest Diagnostics (NYSE:DGX) last released its quarterly earnings data on Thursday, October 19th. The medical research company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.04. The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.92 billion. Quest Diagnostics had a return on equity of 15.53% and a net margin of 8.82%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.37 earnings per share. research analysts forecast that Quest Diagnostics Incorporated will post 5.65 earnings per share for the current year.
In other Quest Diagnostics news, Chairman Stephen H. Rusckowski sold 59,235 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $108.16, for a total value of $6,406,857.60. Following the sale, the chairman now owns 220,049 shares in the company, valued at $23,800,499.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel Stanzione sold 3,803 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $108.01, for a total value of $410,762.03. Following the completion of the sale, the director now owns 35,359 shares in the company, valued at approximately $3,819,125.59. The disclosure for this sale can be found here. Insiders sold 160,396 shares of company stock worth $17,343,852 in the last 90 days. Corporate insiders own 1.75% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. WFG Advisors LP increased its stake in shares of Quest Diagnostics by 45.3% during the second quarter. WFG Advisors LP now owns 966 shares of the medical research company’s stock worth $107,000 after purchasing an additional 301 shares during the period. Sun Life Financial INC increased its stake in shares of Quest Diagnostics by 14,142.9% during the second quarter. Sun Life Financial INC now owns 997 shares of the medical research company’s stock worth $111,000 after purchasing an additional 990 shares during the period. Parallel Advisors LLC increased its stake in shares of Quest Diagnostics by 0.9% during the second quarter. Parallel Advisors LLC now owns 1,291 shares of the medical research company’s stock worth $140,000 after purchasing an additional 12 shares during the period. Acrospire Investment Management LLC increased its stake in shares of Quest Diagnostics by 300.0% during the second quarter. Acrospire Investment Management LLC now owns 1,600 shares of the medical research company’s stock worth $178,000 after purchasing an additional 1,200 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Quest Diagnostics during the second quarter worth approximately $180,000. Hedge funds and other institutional investors own 88.18% of the company’s stock.
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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 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).
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