Quest Diagnostics Inc (DGX) Shares Sold by American International Group Inc.
American International Group Inc. trimmed its holdings in Quest Diagnostics Inc (NYSE:DGX) by 7.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 83,786 shares of the medical research company’s stock after selling 7,060 shares during the period. American International Group Inc. owned 0.06% of Quest Diagnostics worth $7,846,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. WFG Advisors LP boosted its stake in Quest Diagnostics by 45.3% in the 2nd quarter. WFG Advisors LP now owns 966 shares of the medical research company’s stock worth $107,000 after buying an additional 301 shares during the last quarter. Sun Life Financial INC boosted its stake in Quest Diagnostics by 14,142.9% in the 2nd quarter. Sun Life Financial INC now owns 997 shares of the medical research company’s stock worth $111,000 after buying an additional 990 shares during the last quarter. Parallel Advisors LLC boosted its stake in Quest Diagnostics by 0.9% in the 2nd quarter. Parallel Advisors LLC now owns 1,291 shares of the medical research company’s stock worth $140,000 after buying an additional 12 shares during the last quarter. Acrospire Investment Management LLC boosted its stake in Quest Diagnostics by 300.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,600 shares of the medical research company’s stock worth $178,000 after buying an additional 1,200 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in Quest Diagnostics in the 2nd quarter worth about $180,000. 89.20% of the stock is currently owned by hedge funds and other institutional investors.
Quest Diagnostics Inc (NYSE DGX) traded up $1.13 during trading on Friday, hitting $98.46. The stock had a trading volume of 3,487,600 shares, compared to its average volume of 1,007,577. The stock has a market cap of $13,480.00, a P/E ratio of 16.73, a price-to-earnings-growth ratio of 1.95 and a beta of 0.59. The company has a current ratio of 1.47, a quick ratio of 1.37 and a debt-to-equity ratio of 0.78. Quest Diagnostics Inc has a 52 week low of $86.89 and a 52 week high of $112.96.
Quest Diagnostics (NYSE:DGX) last announced its earnings results on Thursday, October 19th. The medical research company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.35 by $0.04. The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.92 billion. Quest Diagnostics had a return on equity of 15.53% and a net margin of 8.82%. The company’s revenue was up 2.4% on a year-over-year basis. During the same period last year, the business posted $1.37 EPS. analysts expect 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 issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, January 8th. This represents a $1.80 annualized dividend and a dividend yield of 1.83%. Quest Diagnostics’s payout ratio is currently 37.50%.
In related news, Director Daniel Stanzione sold 3,803 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $108.01, for a total transaction of $410,762.03. Following the sale, the director now directly owns 35,359 shares in the company, valued at approximately $3,819,125.59. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Stephen H. Rusckowski sold 2,525 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $108.03, for a total value of $272,775.75. Following the sale, the chairman now owns 168,413 shares in the company, valued at $18,193,656.39. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 160,396 shares of company stock worth $17,343,852. Company insiders own 1.75% of the company’s stock.
DGX has been the topic of a number of research analyst reports. Canaccord Genuity reissued a “buy” rating and issued a $118.00 price target on shares of Quest Diagnostics in a research note on Wednesday, September 13th. ValuEngine raised Quest Diagnostics from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Goldman Sachs Group downgraded Quest Diagnostics from a “conviction-buy” rating to a “buy” rating and cut their price objective for the stock from $121.00 to $113.00 in a report on Tuesday, October 10th. Mizuho set a $103.00 price objective on Quest Diagnostics and gave the stock a “buy” rating in a report on Thursday, October 19th. Finally, SunTrust Banks set a $105.00 price objective on Quest Diagnostics and gave the stock a “hold” rating in a report on Sunday, October 15th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $106.28.
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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).
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