KCM Investment Advisors LLC lowered its stake in Quest Diagnostics Incorporated (NYSE:DGX) by 6.6% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,825 shares of the medical research company’s stock after selling 200 shares during the quarter. KCM Investment Advisors LLC’s holdings in Quest Diagnostics were worth $314,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of the stock. Schnieders Capital Management LLC lifted its stake in Quest Diagnostics by 0.3% in the 2nd quarter. Schnieders Capital Management LLC now owns 2,366 shares of the medical research company’s stock valued at $263,000 after buying an additional 6 shares in the last quarter. Parallel Advisors LLC lifted 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 valued at $140,000 after buying an additional 12 shares in the last quarter. First American Trust FSB lifted its stake in Quest Diagnostics by 0.3% in the 2nd quarter. First American Trust FSB now owns 4,395 shares of the medical research company’s stock valued at $489,000 after buying an additional 14 shares in the last quarter. YorkBridge Wealth Partners LLC lifted its stake in Quest Diagnostics by 1.5% in the 1st quarter. YorkBridge Wealth Partners LLC now owns 1,188 shares of the medical research company’s stock valued at $127,000 after buying an additional 18 shares in the last quarter. Finally, Hills Bank & Trust Co. lifted its stake in Quest Diagnostics by 1.4% in the 2nd quarter. Hills Bank & Trust Co. now owns 2,560 shares of the medical research company’s stock valued at $285,000 after buying an additional 35 shares in the last quarter. 87.07% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Chairman Stephen H. Rusckowski sold 2,525 shares of Quest Diagnostics stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $108.03, for a total value of $272,775.75. Following the completion of the sale, the chairman now owns 168,413 shares of the company’s stock, valued at approximately $18,193,656.39. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Catherine T. Doherty sold 59,762 shares of Quest Diagnostics stock in a transaction on Monday, June 19th. The shares were sold at an average price of $107.55, for a total transaction of $6,427,403.10. Following the completion of the sale, the senior vice president now directly owns 78,582 shares of the company’s stock, valued at approximately $8,451,494.10. The disclosure for this sale can be found here. Insiders have sold a total of 221,758 shares of company stock valued at $23,944,610 in the last three months. Company insiders own 1.75% of the company’s stock.
A number of research firms recently issued reports on DGX. UBS AG upped their target price on Quest Diagnostics from $115.00 to $123.00 and gave the company a “buy” rating in a research note on Thursday, July 6th. BidaskClub raised Quest Diagnostics from a “sell” rating to a “hold” rating in a research note on Tuesday, August 15th. Zacks Investment Research raised Quest Diagnostics from a “hold” rating to a “buy” rating and set a $121.00 target price on the stock in a research note on Wednesday, August 2nd. Morgan Stanley upped their target price on Quest Diagnostics from $87.00 to $92.00 and gave the company an “underweight” rating in a research note on Thursday, August 10th. Finally, Evercore ISI reaffirmed an “in-line” rating and issued a $104.50 target price on shares of Quest Diagnostics in a research note on Wednesday, June 28th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Quest Diagnostics currently has a consensus rating of “Buy” and an average price target of $111.09.
Shares of Quest Diagnostics Incorporated (NYSE:DGX) opened at 104.96 on Friday. The stock’s 50 day moving average price is $106.93 and its 200-day moving average price is $105.25. The firm has a market capitalization of $14.32 billion, a P/E ratio of 21.15 and a beta of 0.69. Quest Diagnostics Incorporated has a 12-month low of $79.12 and a 12-month high of $112.97.
Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings data on Tuesday, July 25th. The medical research company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.13. Quest Diagnostics had a net margin of 9.28% and a return on equity of 15.66%. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the business posted $1.34 EPS. The company’s revenue was up 1.9% on a year-over-year basis. On average, equities analysts expect that Quest Diagnostics Incorporated will post $5.69 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 18th. Shareholders of record on Tuesday, October 3rd will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Monday, October 2nd. Quest Diagnostics’s dividend payout ratio (DPR) is currently 36.29%.
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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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