Prudential Financial Inc. grew its position in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 56.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 327,976 shares of the medical research company’s stock after buying an additional 117,720 shares during the quarter. Prudential Financial Inc. owned 0.24% of Quest Diagnostics worth $30,712,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in DGX. WFG Advisors LP raised its position in Quest Diagnostics by 45.3% during 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 raised its position in Quest Diagnostics by 14,142.9% during 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 raised its position in Quest Diagnostics by 0.9% during 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 raised its position in Quest Diagnostics by 300.0% during 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 purchased a new position in Quest Diagnostics during the 2nd quarter worth $180,000. Institutional investors own 88.18% of the company’s stock.
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Quest Diagnostics Incorporated (NYSE:DGX) opened at $92.42 on Wednesday. The firm has a market cap of $12,539.54, a P/E ratio of 16.49, a price-to-earnings-growth ratio of 1.92 and a beta of 0.59. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.37 and a current ratio of 1.47. Quest Diagnostics Incorporated has a 12-month low of $84.47 and a 12-month high of $112.96.
Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings results on Thursday, October 19th. The medical research company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.04. The firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.92 billion. Quest Diagnostics had a net margin of 8.82% and a return on equity of 15.53%. Quest Diagnostics’s revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.37 earnings per share. equities research analysts predict that Quest Diagnostics Incorporated will post 5.65 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 18th. Shareholders of record on Tuesday, October 3rd were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, October 2nd. This represents a $1.80 dividend on an annualized basis and a yield of 1.95%. Quest Diagnostics’s dividend payout ratio (DPR) is 37.74%.
A number of brokerages have recently issued reports on DGX. Barclays PLC reiterated a “hold” rating and issued a $110.00 price target on shares of Quest Diagnostics in a report on Wednesday, July 19th. Bank of America Corporation upgraded shares of Quest Diagnostics from a “neutral” rating to a “buy” rating and increased their price target for the company from $111.00 to $118.00 in a report on Tuesday, July 25th. Piper Jaffray Companies increased their price target on shares of Quest Diagnostics to $107.00 and gave the company a “neutral” rating in a report on Tuesday, July 25th. downgraded shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Finally, downgraded shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Friday, July 28th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $106.18.
In other news, Director Daniel Stanzione sold 3,803 shares of Quest Diagnostics stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $108.01, for a total transaction of $410,762.03. Following the sale, the director now owns 35,359 shares in the company, valued at $3,819,125.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Stephen H. Rusckowski sold 59,235 shares of Quest Diagnostics stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $108.16, for a total transaction of $6,406,857.60. Following the sale, the chairman now owns 220,049 shares in the company, valued at approximately $23,800,499.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 160,396 shares of company stock worth $17,343,852. 1.75% of the stock is currently owned by corporate insiders.
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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