Investec Asset Management LTD Has $111.46 Million Holdings in Quest Diagnostics Inc (DGX)
Investec Asset Management LTD lowered its position in shares of Quest Diagnostics Inc (NYSE:DGX) by 45.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,190,348 shares of the medical research company’s stock after selling 988,330 shares during the quarter. Investec Asset Management LTD owned 0.87% of Quest Diagnostics worth $111,464,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in DGX. US Bancorp DE increased its holdings in shares of Quest Diagnostics by 0.9% in the 2nd quarter. US Bancorp DE now owns 18,065 shares of the medical research company’s stock valued at $2,008,000 after purchasing an additional 156 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of Quest Diagnostics in the 2nd quarter valued at about $226,000. Ferguson Wellman Capital Management Inc. increased its holdings in shares of Quest Diagnostics by 0.9% in the 2nd quarter. Ferguson Wellman Capital Management Inc. now owns 4,300 shares of the medical research company’s stock valued at $478,000 after purchasing an additional 40 shares in the last quarter. IBM Retirement Fund increased its holdings in shares of Quest Diagnostics by 28.3% in the 2nd quarter. IBM Retirement Fund now owns 2,020 shares of the medical research company’s stock valued at $225,000 after purchasing an additional 445 shares in the last quarter. Finally, Harbour Capital Advisors LLC increased its holdings in shares of Quest Diagnostics by 11,016.0% in the 2nd quarter. Harbour Capital Advisors LLC now owns 63,361 shares of the medical research company’s stock valued at $570,000 after purchasing an additional 62,791 shares in the last quarter. Institutional investors own 89.20% of the company’s stock.
In related news, Chairman Stephen H. Rusckowski sold 59,235 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $108.16, for a total value of $6,406,857.60. Following the transaction, the chairman now owns 220,049 shares in the company, valued at $23,800,499.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel Stanzione sold 3,803 shares of the firm’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 transaction of $410,762.03. Following the completion of the transaction, 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. 1.75% of the stock is currently owned by insiders.
Shares of Quest Diagnostics Inc (NYSE DGX) opened at $93.35 on Wednesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.47 and a quick ratio of 1.37. Quest Diagnostics Inc has a 12-month low of $86.89 and a 12-month high of $112.96. The stock has a market cap of $12,720.00, a P/E ratio of 16.42, a P/E/G ratio of 1.91 and a beta of 0.59.
Quest Diagnostics (NYSE:DGX) last released its earnings results on Thursday, October 19th. The medical research company reported $1.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.04. Quest Diagnostics had a net margin of 8.82% and a return on equity of 15.53%. The business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.92 billion. During the same period last year, the company earned $1.37 earnings per share. The company’s quarterly revenue was up 2.4% on a year-over-year basis. analysts anticipate that Quest Diagnostics Inc will post 5.65 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Tuesday, January 9th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.93%. Quest Diagnostics’s dividend payout ratio is presently 37.50%.
A number of equities research analysts recently commented on DGX shares. Raymond James Financial reissued a “market perform” rating on shares of Quest Diagnostics in a research note on Monday, September 25th. Goldman Sachs Group cut shares of Quest Diagnostics from a “conviction-buy” rating to a “buy” rating and lowered their price objective for the company from $121.00 to $113.00 in a research note on Tuesday, October 10th. Canaccord Genuity reissued a “buy” rating and issued a $118.00 price objective on shares of Quest Diagnostics in a research note on Wednesday, September 13th. ValuEngine raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, Zacks Investment Research cut shares of Quest Diagnostics from a “hold” rating to a “sell” rating in a research note on Friday, October 27th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $106.28.
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Quest Diagnostics Company 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).
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