Seaward Management Limited Partnership trimmed its position in Quest Diagnostics Incorporated (NYSE:DGX) by 17.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,680 shares of the medical research company’s stock after selling 1,800 shares during the quarter. Seaward Management Limited Partnership’s holdings in Quest Diagnostics were worth $812,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. WFG Advisors LP increased its stake in Quest Diagnostics by 45.3% in the second quarter. WFG Advisors LP now owns 966 shares of the medical research company’s stock valued at $107,000 after acquiring an additional 301 shares during the last quarter. Sun Life Financial INC increased its stake in Quest Diagnostics by 14,142.9% in the second quarter. Sun Life Financial INC now owns 997 shares of the medical research company’s stock valued at $111,000 after acquiring an additional 990 shares during the last quarter. Parallel Advisors LLC increased its stake in Quest Diagnostics by 0.9% in the second quarter. Parallel Advisors LLC now owns 1,291 shares of the medical research company’s stock valued at $140,000 after acquiring an additional 12 shares during the last quarter. Acrospire Investment Management LLC increased its stake in Quest Diagnostics by 300.0% in the second quarter. Acrospire Investment Management LLC now owns 1,600 shares of the medical research company’s stock valued at $178,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in Quest Diagnostics in the second quarter valued at approximately $180,000. 88.18% of the stock is currently owned by institutional investors and hedge funds.
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In related news, Chairman Stephen H. Rusckowski sold 59,235 shares of the business’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $108.16, for a total value of $6,406,857.60. Following the transaction, the chairman now owns 220,049 shares in the company, valued at $23,800,499.84. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Daniel Stanzione sold 3,803 shares of the business’s stock in a transaction 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 completion of the transaction, the director now owns 35,359 shares in the company, valued at approximately $3,819,125.59. The disclosure for this sale can be found here. In the last 90 days, insiders sold 160,396 shares of company stock worth $17,343,852. 1.75% of the stock is owned by company insiders.
A number of brokerages recently issued reports on DGX. Zacks Investment Research raised shares of Quest Diagnostics from a “sell” rating to a “hold” rating in a research note on Monday, November 6th. KeyCorp reissued a “hold” rating on shares of Quest Diagnostics in a research note on Friday, October 27th. Canaccord Genuity raised their target price on shares of Quest Diagnostics from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, October 26th. Wells Fargo & Company cut their target price on shares of Quest Diagnostics from $88.00 to $86.00 and set a “market perform” rating on the stock in a research report on Friday, October 20th. Finally, Citigroup Inc. cut their target price on shares of Quest Diagnostics from $110.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $106.18.
Shares of Quest Diagnostics Incorporated (NYSE:DGX) traded up $1.09 during trading hours on Friday, hitting $92.94. 850,600 shares of the stock were exchanged, compared to its average volume of 980,637. The firm has a market capitalization of $12,519.10, a price-to-earnings ratio of 16.46, a PEG ratio of 1.91 and a beta of 0.59. The company has a current ratio of 1.47, a quick ratio of 1.37 and a debt-to-equity ratio of 0.78. Quest Diagnostics Incorporated has a 52 week low of $84.58 and a 52 week high of $112.96.
Quest Diagnostics (NYSE:DGX) last released its earnings results on Thursday, October 19th. The medical research company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.04. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates 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 for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.37 earnings per share. research analysts anticipate that Quest Diagnostics Incorporated will post 5.65 earnings per share for the current fiscal year.
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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