Traders Sell Quest Diagnostics (DGX) on Strength (DGX)

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Traders sold shares of Quest Diagnostics Inc (NYSE:DGX) on strength during trading hours on Friday. $21.93 million flowed into the stock on the tick-up and $127.30 million flowed out of the stock on the tick-down, for a money net flow of $105.37 million out of the stock. Of all stocks tracked, Quest Diagnostics had the 0th highest net out-flow for the day. Quest Diagnostics traded up $1.90 for the day and closed at $111.44

DGX has been the subject of several analyst reports. Zacks Investment Research downgraded Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Wednesday, April 25th. Mizuho restated a “buy” rating on shares of Quest Diagnostics in a research report on Friday, May 25th. Deutsche Bank downgraded Quest Diagnostics from a “buy” rating to a “hold” rating and set a $108.00 target price for the company. in a research report on Wednesday, June 27th. Evercore ISI upgraded Quest Diagnostics from an “in-line” rating to an “outperform” rating and set a $103.00 target price for the company in a research report on Tuesday, July 10th. Finally, Morgan Stanley upgraded Quest Diagnostics from an “equal weight” rating to an “overweight” rating and set a $120.00 target price for the company in a research report on Tuesday, May 29th. Twelve analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $110.00.

The company has a quick ratio of 1.05, a current ratio of 1.12 and a debt-to-equity ratio of 0.65. The stock has a market cap of $14.83 billion, a PE ratio of 20.64, a price-to-earnings-growth ratio of 2.15 and a beta of 0.73.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings data on Tuesday, July 24th. The medical research company reported $1.75 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.76 by ($0.01). Quest Diagnostics had a net margin of 10.56% and a return on equity of 15.45%. The business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter in the previous year, the firm posted $1.55 EPS. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. equities analysts expect that Quest Diagnostics Inc will post 6.59 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 22nd. Shareholders of record on Friday, October 5th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.79%. Quest Diagnostics’s payout ratio is 37.04%.

In other Quest Diagnostics news, insider Mark Guinan sold 61,533 shares of Quest Diagnostics stock in a transaction on Friday, May 25th. The stock was sold at an average price of $105.71, for a total value of $6,504,653.43. Following the completion of the transaction, the insider now owns 119,733 shares in the company, valued at approximately $12,656,975.43. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Stephen H. Rusckowski sold 168,490 shares of Quest Diagnostics stock in a transaction on Friday, May 25th. The shares were sold at an average price of $107.00, for a total value of $18,028,430.00. Following the completion of the transaction, the chairman now owns 359,559 shares of the company’s stock, valued at approximately $38,472,813. The disclosure for this sale can be found here. In the last quarter, insiders sold 340,064 shares of company stock valued at $36,688,570. Corporate insiders own 1.79% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. raised its position in Quest Diagnostics by 7.4% in the 1st quarter. BlackRock Inc. now owns 15,582,475 shares of the medical research company’s stock valued at $1,562,924,000 after purchasing an additional 1,071,083 shares during the last quarter. Fiduciary Management Inc. WI raised its position in Quest Diagnostics by 76.5% in the 1st quarter. Fiduciary Management Inc. WI now owns 3,669,715 shares of the medical research company’s stock valued at $368,072,000 after purchasing an additional 1,590,069 shares during the last quarter. American Century Companies Inc. raised its position in Quest Diagnostics by 24.8% in the 2nd quarter. American Century Companies Inc. now owns 2,962,056 shares of the medical research company’s stock valued at $325,648,000 after purchasing an additional 589,197 shares during the last quarter. Victory Capital Management Inc. raised its position in Quest Diagnostics by 5.2% in the 2nd quarter. Victory Capital Management Inc. now owns 2,564,525 shares of the medical research company’s stock valued at $281,944,000 after purchasing an additional 127,232 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its position in Quest Diagnostics by 8.3% in the 1st quarter. Allianz Asset Management GmbH now owns 2,326,398 shares of the medical research company’s stock valued at $233,338,000 after purchasing an additional 178,041 shares during the last quarter. Hedge funds and other institutional investors own 87.54% of the company’s stock.

Quest Diagnostics Company Profile (NYSE:DGX)

Quest Diagnostics Incorporated provides diagnostic testing information and services in the United States and internationally. The company's Diagnostic Information Services business segment develops and delivers diagnostic testing information and services, such as routine testing, non-routine and advanced clinical testing, gene-based and esoteric testing, anatomic pathology, and other diagnostic information services.

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