Laurion Capital Management LP boosted its position in Quest Diagnostics Incorporated (NYSE:DGX) by 477.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 44,500 shares of the medical research company’s stock after purchasing an additional 36,800 shares during the quarter. Laurion Capital Management LP’s holdings in Quest Diagnostics were worth $4,947,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in DGX. Commerzbank Aktiengesellschaft FI raised its holdings in Quest Diagnostics by 17.1% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 3,022 shares of the medical research company’s stock worth $297,000 after purchasing an additional 442 shares in the last quarter. Chicago Equity Partners LLC grew its stake in shares of Quest Diagnostics by 9.3% during the first quarter. Chicago Equity Partners LLC now owns 2,700 shares of the medical research company’s stock worth $265,000 after acquiring an additional 230 shares during the last quarter. US Bancorp DE grew its stake in shares of Quest Diagnostics by 9.9% during the first quarter. US Bancorp DE now owns 17,909 shares of the medical research company’s stock worth $1,758,000 after acquiring an additional 1,608 shares during the last quarter. UBS Asset Management Americas Inc. grew its stake in shares of Quest Diagnostics by 39.6% during the first quarter. UBS Asset Management Americas Inc. now owns 622,554 shares of the medical research company’s stock worth $61,129,000 after acquiring an additional 176,609 shares during the last quarter. Finally, YorkBridge Wealth Partners LLC grew its stake in shares of Quest Diagnostics by 1.5% during the first quarter. YorkBridge Wealth Partners LLC now owns 1,188 shares of the medical research company’s stock worth $127,000 after acquiring an additional 18 shares during the last quarter. Institutional investors and hedge funds own 87.07% of the company’s stock.
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Quest Diagnostics Incorporated (NYSE DGX) traded down 0.61% on Friday, reaching $104.96. The company had a trading volume of 1,252,259 shares. The company’s 50-day moving average is $106.93 and its 200-day moving average is $105.25. The company has a market capitalization of $14.32 billion, a PE ratio of 21.15 and a beta of 0.69. Quest Diagnostics Incorporated has a 52-week low of $79.12 and a 52-week high of $112.97.
Quest Diagnostics (NYSE:DGX) last posted its earnings results on Tuesday, July 25th. The medical research company reported $1.55 EPS for the quarter, topping the Zacks’ consensus estimate of $1.42 by $0.13. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.94 billion. Quest Diagnostics had a return on equity of 15.66% and a net margin of 9.28%. Quest Diagnostics’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.34 earnings per share. Equities analysts anticipate that Quest Diagnostics Incorporated will post $5.69 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 18th. Shareholders of record on Tuesday, October 3rd will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, October 2nd. This represents a $1.80 dividend on an annualized basis and a yield of 1.71%. Quest Diagnostics’s payout ratio is 36.29%.
A number of brokerages have recently weighed in on DGX. Canaccord Genuity restated a “buy” rating and set a $118.00 price target on shares of Quest Diagnostics in a research note on Wednesday. ValuEngine upgraded Quest Diagnostics from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. BidaskClub upgraded Quest Diagnostics from a “sell” rating to a “hold” rating in a research note on Tuesday, August 15th. Morgan Stanley boosted their price target on Quest Diagnostics from $87.00 to $92.00 and gave the stock an “underweight” rating in a research note on Thursday, August 10th. Finally, Zacks Investment Research lowered Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $111.09.
In other news, CEO Stephen H. Rusckowski sold 53,933 shares of the business’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $108.16, for a total value of $5,833,393.28. Following the completion of the transaction, the chief executive officer now directly owns 220,049 shares of the company’s stock, valued at $23,800,499.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey M. Leiden sold 1,304 shares of the business’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $108.73, for a total value of $141,783.92. Following the completion of the transaction, the director now directly owns 6,296 shares of the company’s stock, valued at $684,564.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 221,758 shares of company stock worth $23,944,610. 1.75% of the stock is owned by company insiders.
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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