DNB Asset Management AS raised its stake in shares of Quest Diagnostics Inc (NYSE:DGX) by 621.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 109,774 shares of the medical research company’s stock after acquiring an additional 94,551 shares during the period. DNB Asset Management AS owned approximately 0.08% of Quest Diagnostics worth $11,176,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Penserra Capital Management LLC purchased a new stake in Quest Diagnostics during the 1st quarter valued at approximately $42,000. Signaturefd LLC raised its stake in Quest Diagnostics by 74.7% during the 1st quarter. Signaturefd LLC now owns 505 shares of the medical research company’s stock valued at $45,000 after acquiring an additional 216 shares during the last quarter. Stevens First Principles Investment Advisors purchased a new stake in Quest Diagnostics during the 1st quarter valued at approximately $51,000. First Personal Financial Services raised its stake in Quest Diagnostics by 57.1% during the 1st quarter. First Personal Financial Services now owns 655 shares of the medical research company’s stock valued at $59,000 after acquiring an additional 238 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its stake in Quest Diagnostics by 515.9% during the 1st quarter. Quadrant Capital Group LLC now owns 696 shares of the medical research company’s stock valued at $60,000 after acquiring an additional 583 shares during the last quarter. 91.40% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently issued reports on DGX shares. Citigroup downgraded International Container Terminal Services from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 24th. Zacks Investment Research raised Hudson Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Goldman Sachs Group reissued a “buy” rating and set a $70.00 target price on shares of Total in a research note on Monday, July 15th. Mizuho set a $31.00 target price on Evolus and gave the stock a “buy” rating in a research note on Monday, May 20th. Finally, Morgan Stanley cut their target price on RPC from $12.00 to $9.50 and set an “underperform” rating for the company in a research note on Thursday, April 25th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $101.33.
NYSE DGX traded up $5.30 during mid-day trading on Tuesday, hitting $103.38. The stock had a trading volume of 2,650,210 shares, compared to its average volume of 1,164,153. Quest Diagnostics Inc has a 52-week low of $78.95 and a 52-week high of $112.38. The firm has a market cap of $13.34 billion, a P/E ratio of 16.38, a price-to-earnings-growth ratio of 2.02 and a beta of 0.86. The stock has a 50 day moving average price of $101.07. The company has a current ratio of 0.78, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59.
Quest Diagnostics (NYSE:DGX) last released its quarterly earnings data on Tuesday, July 23rd. The medical research company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.04. Quest Diagnostics had a return on equity of 14.99% and a net margin of 9.59%. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the business posted $1.75 EPS. Quest Diagnostics’s quarterly revenue was up 1.8% on a year-over-year basis. Sell-side analysts expect that Quest Diagnostics Inc will post 6.47 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Monday, July 8th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.05%. The ex-dividend date was Friday, July 5th. Quest Diagnostics’s payout ratio is currently 33.60%.
In other Quest Diagnostics news, Chairman Stephen H. Rusckowski sold 244,565 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $100.00, for a total transaction of $24,456,500.00. Following the sale, the chairman now owns 457,614 shares in the company, valued at approximately $45,761,400. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mark Guinan sold 73,005 shares of the stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $100.00, for a total value of $7,300,500.00. Following the sale, the insider now owns 139,022 shares in the company, valued at approximately $13,902,200. The disclosure for this sale can be found here. Insiders sold a total of 365,144 shares of company stock valued at $36,276,530 over the last ninety days. 1.86% of the stock is currently owned by company insiders.
About Quest Diagnostics
Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic testing information and services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.
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